Earnings Labs

Qorvo, Inc. (QRVO)

Q4 2008 Earnings Call· Wed, Feb 11, 2009

$86.84

+2.32%

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Transcript

Transcript

Operator

Executives Steven J. Buhaly - Vice President Finance, Chief Financial OfficerRalph G. Quinsey - President, Chief Executive OfficerAnalysts Tim Luke - Barclays CapitalNathan Johnson - Pacific Crest SecuritiesSteve Ferranti - Stephens, Inc.Quinn Bolton - Needham & CompanyKevin Wincheck - P. Capital Management Aalok Shah - D. A. Davidson & Co.Bill Develum – Tiatum Capital ManagementsDrew Burke - Century Hill PartnersOperator Good afternoon. My name is Don and I will be your conference operator today. At this time I would like to welcome everyone to the fourth quarter year end conference call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks there will be a question-and-answer session. (Operator Instructions)Mr. Steve Buhaly, CFO, you may begin your conference.Steven Buhaly Good afternoon and welcome to our fourth quarter 2008 conference call. This call will include forward-looking statements about TriQuint’s projected financial and operating results. Results could differ materially based on various factors including those described in our reports on forms 10-K and 10-Q and other filings with the Securities and Exchange Commission. This presentation also includes non-GAAP financial measures which exclude equity compensation charges, certain impairment charges, and charges associated with the acquisition of WJ Communications. These non-GAAP measures are provided to enhance overall understanding of our core operating performance. A full reconciliation of these non-GAAP measures is in our press release.Ralph will now provide an overview of the quarter. Ralph?Ralph Quinsey Thank you, Steve. Investors should consider three areas to understand our recent quarter and outlook. First, we saw slowing demand in Q4 and now expect more unseasonable decline in Q1. Demand slowed abruptly during the quarter impacting our commercial markets, in particular handsets and wireless LAN. With an increase level of backlog rescheduling or pushups, these pushups have subsided and normal demand pull is…