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4 years ago
Chipmaker TriQuint's forecast misses Street estimates
October 23, 2013 / 8:25 PM / 4 years ago

Chipmaker TriQuint's forecast misses Street estimates

(Reuters) - TriQuint Semiconductor Inc projected sales for the current quarter that missed Wall Street expectations, sending its shares down 13 percent in extended trading.

The company said it expects fourth-quarter revenue of between $260 million and $270 million, missing the average analyst estimate of $280.5 million, according to Thomson Reuters I/B/E/S.

TriQuint reported a profit of $13.6 million, or 8 cents per share, for the third quarter, compared with a loss of $11.2 million, or 7 cents per share, a year earlier.

Revenue rose 25 percent to $250.8 million.

TriQuint makes radio frequency chips that help connect cellphones to data and voice networks.

Reporting by Aurindom Mukherjee in Bangalore; Editing by Maju Samuel

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