Qorvo Acquires Custom MMIC

Qorvo^®, a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company’s fiscal 2020 third quarter, ended December 28, 2019. On a GAAP basis, revenue for Qorvo’s fiscal 2020 third quarter was $869 million, gross margin was 42.4%, operating income was $153 million and diluted earnings per share was $1.36. On a non-GAAP basis, gross margin was 49.3%, operating income was $252 million and diluted earnings per share was $1.86.

Bob Bruggeworth, president and chief executive officer of Qorvo, said, “Qorvo delivered an exceptional December quarter. In Mobile Products, 5G design wins are accelerating, and in IDP we are enjoying robust design win momentum. We’re also looking forward to welcoming two industry-leading teams, Decawave and Custom MMIC, to the Qorvo family, expanding our technology portfolio and product offerings.”

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