Chipmaker RF Micro forecasts first-quarter results above estimates

Reuters News
Posted: Apr 29, 2014 4:16 PM

(Reuters) - RF Micro Devices Inc, whose chips are used to connect mobile devices to networks, forecast quarterly results above analysts' estimates due to higher demand from smartphone makers like Apple Inc and Samsung Electronics Co.

RF Micro forecast adjusted earnings of 17 cents per share and revenue of about $305 million for the first quarter ending June.

Analysts on average were expecting a profit of 11 cents per share on revenue of $277 million, according to Thomson Reuters I/B/E/S.

RF Micro's radio frequency chips are also used in notebooks and tablets as well as radar equipment. Samsung is the company's biggest customer.

(Reporting by Aurindom Mukherjee and Supantha Mukherjee in Bangalore; Editing by Kirti Pandey)