TriQuint Semiconductor Q2 Loss Widens, But Tops View; Shares Surge

(RTTNews) - TriQuint Semiconductor Inc. (TQNT), Wednesday reported second-quarter net loss of $14.9 million or $0.09 per share, compared to a loss of $13.1 million or $0.08 per share last year.

On an adjusted basis, net loss for the second quarter was $10.9 million or $0.07 per share, compared to $15.0 million or $0.09 per share last year. Analysts polled by Thomson Reuters estimated loss of $0.11 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter grew to $190.1 million from $178.0 million last year. Analysts estimated revenues of $187.97 million for the quarter.

Looking forward to the third quarter, the company expects adjusted earnings of $0.09 to $0.11 per share and revenues of $245 million to $255 million. Analysts currently estimate earnings of $0.03 per share on revenues of $228.99 million for the quarter.

For the full year 2013, the company expects adjusted earnings of at least $0.05 per share. Analysts currently estimate loss of $0.10 per share for the year.

Following the news, shares of TriQuint surged 11 percent in after hours trading.