Wireless chip maker RF Micro Devices (RFMD) this afternoon reported fiscal Q3 revenue in line with expectations but profit per share below analysts’ estimates.
Revenue in the three months ended in December rose to $225.4, yielding EPS of 2 cents.
Analysts on average had been modeling $225.02 million, and EPS of 3 cents per share.
For the current quarter, the company sees a loss of 2 cents a share on revenue of $185 million, below the consensus 3 cents profit and $204.5 million in revenue.
Management cited a breakdown in cellular phone sales in China as a culprit for the forecast, stating, “The Company currently forecasts a greater-than-seasonal decline in sales to cellular handset manufacturers in China, primarily as a result of the impact of lunar new year on order visibility and the projected impact of channel inventory.”
RFMD shares are up 4 cents, or 0.8%, at $4.89 in late trading.
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