Qorvo has announced financial results for the first quarter of fiscal 2018, which ended on July 1, 2017. On a GAAP basis, fiscal 2018 first quarter revenue was $640.8 million, gross margin was 36.9%, operating loss was $27.8 million, and diluted loss per share was $0.24. On a non-GAAP basis, fiscal 2018 first quarter revenue was $639.9 million, gross margin was 47.3%, operating income was $137.4 million, or 21.5% of sales, and diluted EPS was $0.87.
Quarterly Highlights
- Achieved record Infrastructure and Defense Products (IDP) business revenue of $184 million, up 9% sequentially and 22% year-over-year, led by IoT and defense
- Secured 28 GHz wins supporting Samsung 5G MIMO demo at 2018 Winter Olympics
- Commenced commercial shipments of 39 GHz FEMs for 5G infrastructure
- Designed into Technicolor DOCSIS 3.1 gateway with 2.4 GHz and 5 GHz Wi-Fi solutions
- Supplied multi-protocol 802.14 IoT SoCs to leading providers of cable TV and satellite TV
- Selected by the leading China-based smartphone OEM to support marquee smartphone ramping this fall with power amplifiers, premium filters, high-performance switches and an ET PMIC
- Secured designs for broad suite of BAW 5 products, including: quadplexers for carrier aggregation (CA); Wi-Fi iFEMs for Oppo, Xiaomi and LG; and a Wi-Fi coexistence filter for a marquee smartphone platform
- Supported new smartphone entrant in the Android ecosystem with more than $12 of Qorvo RF content
- Honored by Vivo with "Innovation Technology Partner" Award
