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Qorvo Case

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Qorvo Case
Qorvo (QRVO) recently posted impressive results for the second quarter of 2016 by surpassing the earnings estimates and delivering a growth 95.3% in revenue from second quarter, 2015.
The revenue for the quarter scaled up by 95.3% to $708 million for the quarter, from $363 million for the same quarter, 2015, driven primarily from the TriQuint revenue and from the rise in demand of RF solutions for mobile products.
Revenue by segment
Mobile Products: Revenue from MP segment which supplies radio frequency solutions for mobile devices tablets and smartphones went up to $578.2 million from $298.4 million for the second quarter, 2015, driven by the highest revenue growth from mobile products of 19% on year-over-year basis.Also, the company is tapping …show more content…
Further, by 2020, the company expects compounded annual growth rate of 45%.
All Other: The revenue from other segments that the company deals increased to $970 million from $698 million for the second quarter, 2015.
Moving ahead to expenses, the Non-GAAP research and development expenses scaled up to $106.5 million from $46 million for the second quarter, 2015. The Non-GAAP marketing and selling expenses went up to $28.6 million from $16.4 million for the same period, previous year. The Non-GAAP general and administrative expenses increased to $21.5 million from $10.8 million for the second quarter, 2015.
Furthermore, the quarter posted Non-GAAP Operating Income of $194.8 million compared to $100 million for the second quarter, previous year. Additionally, the Non-GAAP Gross Margin was 49.7% for the quarter compared to 48% for the second quarter, 2015. The Non-GAAP Net Income for the quarter scaled up to $183.2 million from $89.9 million for the second quarter, …show more content…
The cash outgo from Investing Activities was of $25.5 million for the six-month ending period, 2016 compared to cash used in Investing Activities of $73.4 million for the same period, previous year. The cash used in Financing Activities was of $465.9 million for the six month ending period, 2016 compared to $82.7 million for the same period, 2015.
Conclusion
To wrap up, Qorvo posted impressive results for the second quarter, 2016 by delivering better-than-expected earnings for the quarter, the quarter posted increase in revenue, driven by increase in demand of RF solutions for mobile products, increase in Non-GAAP operating income and Non-GAAP net income. Further, the Non-GAAP Diluted earnings per share increased to $1.22 from $1.21 for the second quarter, 2015.
Looking forward to the third quarter, 2016, the company expects revenue in a range of $720 million-$730 million, gross margin of 50% and Diluted Earnings per share in a range of $1.25-$1.30. Qorvo has a great growth opportunity
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