Great, great question. Or what else is going on maybe? While our factories and engineering labs remained open, we successfully transitioned thousands of employees to work from their homes. On March 3, we updated our guidance as macro conditions worsened. Qorvo (QRVO) Earnings Report: Q1 2016 Conference Call Transcript The following Qorvo conference call took place on August 10, 2015, 04:00 AM ET. Non-GAAP operating expenses are projected to increase in the September quarter to approximately $207 million due to the additional week in the quarter, higher personnel costs including raises, increased product development activities and the resumption of some discretionary spend. So it's a little challenging to model. And with that, I'll hand it over to Mark for more color on Q4 and our outlook for June. Thanks again and have a good night. Our customers are doing so well. And we'll really have to see how the year plays out to answer that. In the first quarter, we continue to have significant ramps in both 5G and in Wi-Fi 6. We'll hear next from Bill Peterson with J.P. Morgan. And then we've had this good start to the first half of fiscal '21 and -- but I think given all the uncertainty in the outlook and the broader macro, I think it's prudent to call below 5% year-over-year. And then our channel remains very, very healthy. And I'm sorry, but Eric, real quick. Hello, everybody, and welcome to Qorvo’s fiscal 2020 third quarter earnings conference call. In the September quarter, we expect mobile to increase sequentially, driven by new handset launches and increased content due primarily to the adoption of 5G. We participate specifically on the chip-on-board part of the market, not the SIP part of the market. Did you just have like a series of design wins that kicked in all simultaneously or was it one or two customers that predominantly drove the upside? And we are engaged with virtually all of the rest of the Tier 1s and Tier 2s in the space. Robert Bruggeworth — Chief Executive Officer. Listen, we're constantly working, Chris, to expand gross margins and covered it at length in a previous question. So we understand how to deal with the thermals, how to deal with the high current loads those sort of things. Welcome to the Qorvo, Inc. Fourth Quarter 2020 Conference Call. Mail ... Qorvo Inc (QRVO) Q2 2019 Earnings Conference Call Transcript. So we're running as fast as we can to complement our already complete line of integrated solutions with the latest bands and capabilities and new features and so forth with new performance -- higher performance, smaller filters and so forth adding to the benefit there. We will be presenting via webcast at upcoming investor conferences, and we invite everyone to listen in. So naturally, yes, we're sort of mixing that way because they're doing really well in the market currently. Thanks very much, and hello, everybody, and welcome to Qorvo’s fiscal 2019 third quarter earnings conference call. So we're seeing just a tremendous amount of interaction, we've got absolutely the best team in the world working on these solutions and it's not just the antenna tuning, but also just the routing around all of these advanced antenna structure, so an awful lot like multiplexing in and out what we're calling antenna-plexers. The shift from away from LDMOS to again base stations, what's been the traction there? Bob, I had a question on the total 5G units for the year. As Bob mentioned, our recent acquisitions have been integrated quickly and are performing well. Also contributing were multi-year defense programs and the continued ramp of WiFi 6. Our leverage remains low and we have no near-term maturities. Yeah. So that's good. Though we expect a sequential decline in gross margin in the June quarter, our efforts to improve the portfolio, rightsize our manufacturing footprint and drive productivity are yielding favorable results. GaN power amplifiers are great example of one of the ramps, we brought a broad set of products to the market to support 5G, different frequencies, different power levels and supporting different customers and our GaN revenue for the quarter doubled from what it was at the same time last year. James, huge upside, I was hoping you could help us understand where the upside came in June and where you see the upside here in September. Blayne, could you clarify, when you said shape of 5G, was that an infrastructure question or ancillary question? Tim, I want to make sure I understood your question. During the June quarter, we raised over $300 million through an add-on to our 2029 unsecured notes augmenting the liquidity and further extending the weighted average maturity of our outstanding debt to October of 2027. And so yes, it's growing rapidly now. Other expense will increase to over $20 million driven by the full quarter effect of the net interest charge from debt added in June. I think we're headed for a really nice Q1 and be able to get back into year-over-year growth. Thanks for taking my question. If you go to the rest of the world, again pretty much every OEM Tier 1s, Tier 2s are in progress of designing GaN solutions into their portfolio. It is a category that's -- it's really as I've just said in the previous answer becoming really critical for our customers and we -- it comes down to really the filter R&D and we've really hitting our stride now in terms of the team getting out the latest technologies and band coverage. So yes, certainly, in the near term, the mix toward Korea and China is pretty real. All right. In mobile, shipments of our 5G solutions grew sequentially and 5G design activity continued to increase. And I fully appreciate the lack of visibility today in the marketplace. To safeguard our employees and operations, in January, we began to take precautionary measures. Harsh, this is Eric. But over the time here, over the long-term that we've been expanding our margins and we expect to continue to expand our margins, mix is playing an important role. Yeah, Chris, it's Mark. Qorvo (NASDAQ: QRVO) Q1 2020 Earnings Call Aug 01, 2019, 5:00 p.m. Srini Pajjuri -- SMBC Nikko Securities -- Analyst. That's what's enabling this and as I said, we've got a lot of experience around the antenna sections of our customers' phones. So I would say that certainly where we've centered our focus today and really because that's where we've seen the biggest part of the market. We've got a fantastic reliability. Gross margin was 49.6%, up sequentially and year over year. Qorvo, Inc. (QRVO) CEO Robert Bruggeworth on Q2 2021 Results - Earnings Call Transcript Nov. 04, 2020 11:12 PM ET Qorvo, Inc. (QRVO) 1 Comment 1 Like SA Transcripts And I could tell you, our enthusiasm has only grown since then. And today, that's really in China. Cumulative Growth of a $10,000 Investment in Stock Advisor, Qorvo Inc (QRVO) Q1 2021 Earnings Call Transcript @themotleyfool #stocks $QRVO, This 5G Stock Has Doubled, but It Can Keep Crushing the Market, Qorvo Inc (QRVO) Q2 2021 Earnings Call Transcript, Copyright, Trademark and Patent Information. So as a percentage it's actually quite a bit more of an increase. Infrastructure and Defense Products revenue increased to $319 million over 40% of the company's revenue, as the ongoing build out of 5G networks drove demand and we successfully ramped new GaN products. And we'll go next to Toshiya Hari with Goldman Sachs. ET. That included temperature scanning, social distancing protocols, travel restrictions and a rigorous screening and quarantine process for any suspected or confirmed cases. Yeah. It's more of a way point for us. This innovative device features unique sensor technology and is designed to address the needs of medical clinicians for rapid and accurate results. And with that, I'll turn the call over to Bob. Beyond June, it's tougher to see. Thanks a lot. Steven “Eric” Creviston — President of Mobile Products. Qorvo, Inc. (NASDAQ: QRVO) Q2 2021 earnings call dated Nov. 04, 2020Corporate Participants: Douglas DeLieto — Vice President, Investor Relations. Our parts are universal so they can be used with all the 5G basebands on the market today. Content expansion and increased complexity supporting 5G architectures favor our design expertise and technologies at scale. Thanks. Was this a shortfall in area? Yeah. We repurchased $75 million of shares during the quarter. Qorvo Inc (NASDAQ: QRVO) Q2 2019 Earnings Conference Call Oct. 31, 2018, … I'm just kind of curious how if you look at March and what you're expecting in June, how the shape of that deployment looks versus three months ago? We expect our current quarter and full year non-GAAP tax rate to be approximately 8%. So try to get a feel for the breadth of your design wins maybe in which cases you might just have the mid-high in some cases or other parts, trying to get a feel for the breadth of your design wins here for the phones launching in the back half of the year in China. Yeah. In some cases, we are doing maybe just the ultra high-band section or the high-band or low-band but in many cases, we are looking at the full solution. I think the key thing is we're seeing each region come into and come out of this virus-related demand and supply scenario differently. Stock Advisor launched in February of 2002. We believe our technologies and operations are more important than ever as we support global deployments in 5G handsets and infrastructure, along with defense, WiFi 6 and IoT. For IDP, we project June quarter sales to increase sequentially on 5G infrastructure customer demand and the ramp of WiFi 6 as investment in the latest wireless infrastructure to support connectivity is more important than ever. Looking more closely at 5G, we are in the early stages of a multi-year upgrade cycle supporting growth across both businesses. We expect our June quarter non-GAAP tax rate to be between 8% and 8.5% We project capital expenditures in the near-term to remain consistent with spend over the last several quarters. Thank you. We encourage you to review the safe harbor statement contained in the earnings release published today, as well as the risk factors associated with our business in our annual report on Form 10-K filed with the SEC because these risk factors may affect our operations and financial results. In U.S. and Europe, we see deployments picking up next year adding to this multi-year investment cycle by the carriers. And we'll go next to Ambrish Srivastava with BMO. But that aside, mix effects overall are the smaller part of this compared to just the manufacturing variances and the lower revenues. ET Contents: Prepared. This call will include forward-looking statements that involve risk factors that could cause our actual results to differ materially from management’s current expectations. Mobile revenue of $556 million exceeded our expectations as mobile handset demand was greater and global supply chain disruption is less impactful than we anticipated at the time of our early March update. And we've been continuously adding feature sets and scale over the last couple of years in preparation for this ramp. I won't do on the call, Tim. In defense markets, we sampled our broadband 100- and 130-millimeter -- 130-watt millimeter wave power amplifiers. Motley Fool Transcribers, The Motley Fool. Our spend in fiscal '21 will remain focused on BAW, GaN and other areas, which advance a differentiated position for Qorvo to best serve customer needs. We started in the defense business, we've developed a very high voltage and very high products -- high power products for years. Got it. Maybe, Karl, I'll just start with the revenue picture. That was the question. Well, I mean, there's a lot in that question, Harsh. Contributing to future growth, the demand for data analytics, remote management and system-level optimization within the wide area industrial applications, such as meter reading and asset tracking, is driving the need for global long-range connectivity via cellular IoT. We are maintaining product development schedules. I'm sure as we get into mass tier later on, there'll be some more fine-tuned regional designs. That was split, about half of that was favorable manufacturing costs, and about half of that was mix. At this time, I would like to … But based on your capex commentary and the intention to be disciplined there, given that you did have multiple acquisitions in the year, I would think capex stays kind of around 5% of revenue, M&A, maybe less aggressive, and that would leave room for buybacks. Market data powered by FactSet and Web Financial Group. We also are working on additional technology developments that will really help us compete more heavily in really two aspects in base station, one much higher levels of integration, which we see coming and then also to be able to get into the high power spots in macro. Yeah. Our employees have demonstrated extraordinary spirit and resilience, and I'm proud of their ability to excel in a challenging and dynamic environment. Mark, do you remember the first question? Got it. In the June quarter Infrastructure revenue was a record and we secured record design wins in support of ongoing 5G base station deployments. And then just a follow-up on the smartphone side as it relates to 5G, can you talk about just what you're seeing from an antenna tuning perspective and how that plays into some of your expectations around content? My first question is a follow-up to the question on China and it sounds like you have a lot of the wins that are now across multiple devices for the full main path, but I guess in the past you've had really good content in phones and sometimes the phones don't sell as well. Turning to our current quarter outlook, we expect revenue between $925 million and $955 million, non-GAAP gross margin of approximately 50% and non-GAAP diluted earnings per share of $1.90 at the midpoint of our guidance. Returns as of 01/14/2021. Excluding the additional week, opex to be closer to $196 million for the quarter and we expect opex to remain below that level for the balance of the year. And is this driven by the 5G bands being added especially dual transmit which kind of mux of everything in the antenna side of it? Motley Fool. And we feel like we've put ourselves in a good position to compete where we want to compete and that's where customers will value us the most where we bring the most differentiated products and that's the portfolio management. Hey, everyone. I'm just curious on what impacts you're discussing when you think about your June outlook, as well as the second-half outlook as well? We provide this supplemental information to enable investors to perform additional comparisons of operating results and to analyze financial performance without the impact of certain non-cash expenses or other items that may obscure trends in our underlying performance. That's very helpful. Eric, congratulations on the antenna-plexers. Our IoT business is about a quarter, and then we have various other markets that we serve that represent the rest of the business. But for now, we're seeing, as it continues to mix down through the portfolio, that dollar content adder is remaining pretty consistent. Our current quarter revenue outlook reflects the additional week, strong sequential growth in mobile and over 50% year-over-year growth in IDP. As the June quarter results and our September quarter outlooks show, Qorvo continues to operate well through a challenging period, while serving customers in 5G infrastructure and smartphones, Wi-Fi, IoT, defense and other growth markets. And it remains a risk factor in our business. We supported both of these markets with a really broad set of products including GaN power amplifiers and driver modules, integrated front-end modules, BAW filters and numerous discrete products and we supported a broad set of customers in both of those markets. The company earned $1.06 billion during the quarter, compared to analysts' expectations of $1.01 billion. In fiscal '21, we expect those to be over $110 million combined. They're not a significant customer. In infrastructure, our opportunities in small signal devices like LNAs are growing in line with the increase in massive MIMO antenna elements, while revenue related to GaN PAs is added content. I'll cover handsets. During the quarter, we expanded the global customer base of our WiFi 6 solutions, including our front-end modules and BAW filters. Your December to March revenues were down, call it, 90-something percent. Yeah. Our current outlook had smartphone units decreasing over 10% for the calendar year. I mean that's just affected. But that business and Custom MMIc are both accretive. Eric Creviston -- President, Mobile Products Group. That would be helpful as well. Welcome to the Qorvo, Inc. fourth-quarter 2020 conference call. The shape of the 5G, you kept your number and Qualcomm kept their number. We believe we differentiate in a broad set of areas. In programmable power management, we enjoyed growth in data center, computing and gaming consoles with our differentiated solutions. We expected more of the portfolio to remain discrete. Yeah. A couple of questions. That's correct. And we're seeing the transition now down into the middle tiers of the handset portfolio. Yeah. In June, they're even less. Qorvo, Inc. (NASDAQ:QRVO) Q4 2020 Earnings Conference Call. If you look Vivo and Xiaomi, really mixing toward 5G. So there's no going back. But the direct answer to Huawei is no, we don't have a license and our deliveries to Huawei are pretty much not material at this point in time and that's a IDP comment. It's accelerating, service providers are also adopting the distributed technology and bring WiFi 6 into that part of the market. They're obviously contemplated in the June guide. Bill, from my perspective, millimeter wave, still a really small part of the overall rollout of 5G. So I simply can't be specific beyond what we've provided for the June quarter. We're engaged with every Android customer with this portfolio. ET Contents: Prepared. [Operator Instructions] We'll hear first today from Gary Mobley with Wells Fargo. So we picked up a tremendous amount of content in 5G and that's really helped drive the growth, but we're setting records in our WiFi space as well. Do you see the market evolving where smartphone providers want to increasingly integrate the main path that will enable you to have an expanded role over the next few years? As far as third- to fourth-quarter sequential, it was largely driven by more favorable manufacturing variances. And just a follow-up on the GaN. We've got very cost effective and very high performance BAW filters across every single band now even going up into the higher frequencies. This call will include forward-looking statements that involve risk factors that could cause our actual results to differ materially from management's current expectations. On the same technology platform, we also received initial production orders for our biosensor platform for high sensitivity veterinary point of care applications. Mark Murphy — Chief Financial Officer. Qorvo (QRVO) Q3 2020 Earnings Call Transcript - Motley Fool Image source: The Motley Fool. Qorvo began our fiscal year with an exceptional first quarter. Yeah. We've been planning and ramping up for quite some time. And we see that happening really across the board with high-end retail, but also in the MSO rollouts. OK. Great. We also provided a leading manufacturer of 5G smartphones, the complete main path, including our low, mid-high and ultrahigh band integrated solutions, as well as our WiFi front-end module, switches, tuners for the recently launched 5G smartphone. Another one for James. We are securing broad based design wins for our most highly integrated low, mid-high and ultra-high band solutions. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. Fiscal year, OK. Well, then that leads to another question, which is the elements of strength, which allow the gross margin to stay high in the March quarter despite seasonality. We continue to advance the technology and work on product demonstration vehicles and so forth. The programmable power management business, which were effectively on a year at this point, we're lapping that acquisition. I guess, first question would be, what we should be thinking about with regard to seasonality for the December quarter. ET. I talked about just kind of filling things out. Douglas DeLieto — Vice President of Investor Relation. Steven Creviston — President of Mobile Products And that that will not just be a China story but that will continue as 5G proliferates around the rest of the world. I think what's very clear is first half of the calendar year is significantly impacted. Thank you. I'm sure a lot of you saw the recent Department of Commerce order. What's driving big adoption today is really the 5G deployments that are using massive MIMO antennas. After the quarter closed, we introduced our high sensitivity point-of-care diagnostic test platform and cartridges, utilizing acoustic resonator technology for veterinary applications. We're also expecting, as we get into next year, the deployments to start to pick up in the U.S. We'll go next to Timothy Arcuri with UBS. More broadly, the demand for connectivity, and this requires more and better RF. Bob Bruggeworth -- President and Chief Executive Officer. James Klein -- President of Infrastructure and Defense Products. And then on the IDP, we've been hearing a lot about China being very aggressive in terms of rollouts. You could expect to see around the levels through the year as we guided for the June quarter. In the June quarter, we expect continued robust mobile 5G growth, though on lower base handset volumes and a return to year-over-year growth for IDP. And then from that point, the mobile handset becomes the infrastructure and then ties you into your smart home and your automobile and a host of other applications. [Operator Instructions]. For the full year, we repurchased $515 million in addition to the $1 billion we spent on acquisitions. We increased our support for 5G specifically sub-6 gigahertz 5G massive MIMO deployments and we achieved record GaN product revenue. Reblog. I was talking about the fiscal year. We expect revenue between $710 million and $750 million or $730 million at the midpoint, non-GAAP gross margin of approximately 47.5%, and non-GAAP diluted earnings per share of $1.13 at the midpoint of our guidance. Thank you. The Greensboro, North Carolina-based radio-frequency solutions provider recorded adjusted earnings of $1.52 per share for the September-quarter, down 13% from last year but above the consensus estimates. Contents: Prepared Remarks. And then are we managing the portfolio in a way that we're winning business in the sockets we want to that are going to bring the most value to customers and hopefully with that carry the margins. But we didn't see any pull-ins or anything like that as a result of any of this. At this time, I … Yeah. And so then we develop the capability of multiplexing those into very high order multiplexers is driven by our main path modules and then it's a short step from there into the antenna plexing business, essentially leveraging all of that work to get to multiplexing capability. And I've got to certainly, complement Paul Fego and his team for just a tremendous job, doing all the things around, cycle time improvement and the wafer expansions and we shut down a facility and seamlessly and die shrinks, I can go on and on. Free cash flow growth will continue to be a focus of this management team, and we will provide an updated free cash flow target in the context of a broader financial outlook once our full-year view is clear. I can say that. James? And then finally, opex. Mark, now that we're done with fiscal 2020, can you give us how big your largest customer was in terms of percent of revenue? And then can you just comment on how big China was in the March quarter? Non-GAAP gross margin in the March quarter was 49.6%, with better-than-expected manufacturing costs and favorable mix effects. During our call, our comments and comparisons to income statement items will be based primarily on non-GAAP results. You're right, the effect is about -- it's over $65 million. Mobile products revenue of $468 million exceeded our expectation as handset demand remained more resilient and global supply chain disruptions less impactful than we anticipated at the time of our guide. Yeah. It would give the chance to prove the business case and really tackle a lot of the infrastructure concerns with millimeter wave. We commenced shipments of our integrated ultra-low power multi protocol Zigbee, BLE and Thread IoT solutions supporting one of the largest providers of smart home infrastructure solutions. We expect the ongoing effects of COVID-19 to weigh on our utilization. We're not pleased that we've reached any sort of final result. Today, we've got products in the base station market that serve both the 8 and 16 watt slot. So that's also, of course, driven a strong uptick with several customers that were already in the pipeline for Decawave. They don't have our product stockpiled somewhere. ET, Good day, everyone. Qorvo delivered a very strong March quarter. And so, the fully integrated solution just offers an awful lot of value for time to market, given all the complexity. This will drive strength in IDP given our technologies, design capabilities and operational excellence. Hi. Do you expect that to continue for the rest of the year? Qorvo last posted its quarterly earnings data on November 4th, 2020. But we had two 10% customers this quarter, and that's all I typically say. Qorvo® to Webcast Quarterly Earnings Conference Call on August 1, 2019 PDF Version GREENSBORO, N.C. , July 18, 2019 (GLOBE NEWSWIRE) -- Qorvo ® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, will host a conference call to review fiscal 2020 first quarter financial results on Thursday, August 1, 2019 , at 5:00 p.m. (ET) . In today's release and on today's call we provide both GAAP and non-GAAP financial results. I'm not sure if you picked up. Certainly, below 6 gigahertz is the majority. Watch these ... January 29, 2020; Qorvo … Yeah. And from Needham & Company we'll move to Raji Gill. We're seeing strong growth driven by multiyear defense programs and the acquisition of Custom MMIC further expands our capabilities in this market. So it could be $40 million, $50 million, at most. It would be helpful to stick, please give us a rough break out of what the business looks like today in terms of the end markets or product categories however you choose to delineate within the business? With that as context, I will recap our business performance by market. I'm proud of the team and thankful for their efforts in helping the world stay connected. To add on gross margin, I hate to single one out as more important than the others because it really does take all this to expand the margins in our view. Then Mark will provide additional details on our financials and operations. In connectivity, we experienced continued strong demand for Wi-Fi 6 products, including front-end modules and BAW filters, driven by work from home trends. So as they're adding more content, adding more premium content, a lot of that is addressable by us. 15 pages (9954 words) — Published Oct 31, 2019. Took us a bit longer than we thought, but we were confident we were going to get there. 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