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RF Micro Devices(R) Updates Financial Outlook
GlobeNewswire
2010-03-08


GREENSBORO, N.C., March 8, 2010 (GLOBE NEWSWIRE) -- RF Micro Devices,
Inc. (Nasdaq:RFMD), a global leader in the design and manufacture of
high-performance radio frequency components and compound semiconductor
technologies, today provided updated financial information for RFMD's
fiscal 2010 fourth quarter, ending April 3, 2010.

RFMD now expects to generate quarterly revenue of approximately $240
million to $245 million, which represents approximately 41%
year-over-year growth at the midpoint of this updated outlook. As a
result of the anticipated increase in revenue, RFMD expects to achieve
non-GAAP quarterly earnings per share of approximately $0.11 to $0.12.

RFMD is experiencing broad-based strength in its core business this
quarter, with current customer demand significantly outpacing original
expectations in both the cellular products group and multi-market
products group. RFMD is seeing particular strength in China and Korea
and expects continued market share gains across leading cellular
baseband providers and handset manufacturers this calendar year.

RFMD will present at 2:15 p.m. EST tomorrow, March 9, at the Raymond
James 31st Annual Institutional Investors Conference in Orlando,
Florida. A live audio webcast of the presentation will be available via
the RFMD(R) Investor Relations web page at: http://www.rfmd.com (under
Investors).

Non-GAAP Financial Measures

This press release contains a forward-looking estimate of net income
per diluted share that has not been calculated in accordance with
United States Generally Accepted Accounting Principles (GAAP).
Management uses certain non-GAAP financial measures, including net
income per diluted share, to develop an annual operating plan, to
assess whether research and development efforts are at an appropriate
level, and when making decisions about product spending, administrative
budgets and marketing programs. In addition, we believe that non-GAAP
financial measures provide useful supplemental information to investors
and enable investors to analyze the results of operations in the same
way as management. We have chosen to provide this supplemental
information to enable investors to perform additional comparisons of
operating results and to analyze financial performance excluding the
effect of certain non-cash expenses, share-based compensation expense
and other items, which may obscure trends in RFMD's underlying
performance. Non-GAAP financial measures should be considered as a
supplement to, and not as a substitute for, or superior to, the
corresponding measures calculated in accordance with GAAP, and may
differ from how other companies calculate or present similar non-GAAP
financial measures.

Non-GAAP net income per diluted share excludes the effects of the
following estimated expenses: share-based compensation expense,
amortization of intangible assets, non-cash interest expense on
convertible subordinated notes, adjustment for non-cash income taxes,
restructuring and integration charges, and manufacturing start-up
costs. As noted above, RFMD uses non-GAAP net income per diluted share
to assess its degree of achievement of existing corporate objectives
against its annual operating plan. We are unable to provide a
reconciliation of our forward-looking estimate of our fourth fiscal
quarter non-GAAP net income per diluted share to a forward-looking
estimate of our fourth fiscal quarter GAAP net income per diluted
share, however, because certain information needed to make a reasonable
forward-looking estimate is difficult to predict and estimate at this
time and is dependent on future events that are uncertain or outside of
our control. Our actual non-GAAP net income per diluted share for our
fourth quarter ending April 3, 2010 may differ from this
forward-looking non-GAAP net income per diluted share estimate, and
such differences may be material.

About RFMD

RF Micro Devices, Inc. (Nasdaq:RFMD) is a global leader in the design
and manufacture of high-performance radio frequency components and
compound semiconductor technologies. RFMD's products enable worldwide
mobility, provide enhanced connectivity and support advanced
functionality in the cellular handset, wireless infrastructure,
wireless local area network (WLAN), CATV/broadband and aerospace and
defense markets. RFMD is recognized for its diverse portfolio of
semiconductor technologies and RF systems expertise and is a preferred
supplier to the world's leading mobile device, customer premises and
communications equipment providers.

Headquartered in Greensboro, N.C., RFMD is an ISO 9001- and ISO
14001-certified manufacturer with worldwide engineering, design, sales
and service facilities. RFMD is traded on the NASDAQ Global Select
Market under the symbol RFMD. For more information, please visit RFMD's
web site at www.rfmd.com.

The RF Micro Devices, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6436

This press release includes "forward-looking statements" within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include, but are not limited to, statements about our plans,
objectives, representations and contentions and are not historical
facts and typically are identified by use of terms such as "may,"
"will," "should," "could," "expect," "plan," "anticipate," "believe,"
"estimate," "predict," "potential," "continue" and similar words,
although some forward-looking statements are expressed differently. You
should be aware that the forward-looking statements included herein
represent management's current judgment and expectations, but our
actual results, events and performance could differ materially from
those expressed or implied by forward-looking statements. We do not
intend to update any of these forward-looking statements or publicly
announce the results of any revisions to these forward-looking
statements, other than as is required under the federal securities
laws. RF Micro Devices' business is subject to numerous risks and
uncertainties, including the risk that variability in consumer,
enterprise, infrastructure and government spending resulting from
negative global macroeconomic conditions could materially impact the
demand for our products, the inability of certain of our customers to
access their traditional sources of credit, which could lead them to
reduce their level of purchases or seek credit or other accommodations
from us, the risk that certain of our suppliers may be unable to access
their traditional sources of credit to finance their operations, which
could lead them to reduce their level of support for us, variability in
operating results, the rate of growth and development of the markets we
serve, risks associated with the reduced investment in our wireless
systems business, including cellular transceivers, our ability to
execute on our plans to consolidate or relocate manufacturing
operations, our reliance on inclusion in third party reference designs
for a portion of our revenue, our ability to manage channel partner and
customer relationships, risks associated with the operation of our
wafer fabrication facilities, molecular beam epitaxy facility, assembly
facility and test and tape and reel facilities, our ability to
integrate acquired companies, including the risk that we may not
realize expected synergies from our business combinations, our ability
to attract and retain skilled personnel and develop leaders for key
business units and functions, variability in production yields, raw
material costs and availability, our ability to reduce costs and
improve margins in response to declining average selling prices, our
ability to bring new products to market in response to market shifts
and to use technological innovation to shorten time-to-market for our
products, our ability to adjust production capacity in a timely fashion
in response to changes in demand for our products, dependence on a
limited number of customers for a substantial portion of our revenues,
dependence on gallium arsenide (GaAs) for the majority of our products,
the risks associated with the development and qualification of new
compound semiconductor process technologies, and dependence on third
parties, including wafer foundries, passive component manufacturers,
assembly and packaging suppliers and test and tape and reel suppliers.
These and other risks and uncertainties, which are described in more
detail in RF Micro Devices' most recent Annual Report on Form 10-K and
other reports and statements filed with the Securities and Exchange
Commission, could cause actual results and developments to be
materially different from those expressed or implied by any of these
forward-looking statements.




 RF MICRO DEVICES(R) and RFMD(R) are trademarks of RFMD, LLC. All other
  trade names, trademarks and registered trademarks are the property of
                        their respective owners.





CONTACT:  RF Micro Devices, Inc.
          Doug DeLieto, VP, Investor Relations
          336-678-7088