TriQuint joins the charge brigade

TriQuint joins the charge brigade l ) e s p i l c slight reventic g r o w t l l

intangible assets and goodwill

] anl COllfidcnt vv'e arc well

TriQuint believes r e v e n u e in

in its 17torah q u a l e r e n d e d

associated with acquisitions.

positioned for g r o w t h and

2003 should grow' by 8% to

l)ccclllbcr 2002. TriOtlinl Stli"

Without charges,TriQuint's

p r o s p e r i t y w h e n o u r markets

12% (excluding tile impact

ltwcd a loss. partl) due to

loss would have been $2m. just

recover"

o f the Agere acquisition) prin-

chal'gCS alld adjtlStllicnis. A

1 Cell[ p e r share.

rex
i

% seqtlcillial

illt'reasc over Kilt' S t ' p i c m b e r and I l . 1 % illcrease oll lhc p c r i o d in 2OOI Earnings s h o w e d ;i IlCt loSS of 51-i9.6m ()r ;I loss per share of S I. 13. (]harges aliltl adiuslments, iilchldcd all i m p a i r l l l e i H ()f $-4t)m lO propcrl), plallt alld

Earlier this )ear, TriQuint c o m Anntlal revellue [i)r 201)2 was

p l e t e d its acquisition of a por-

$ 2 6 - . 3 m , a 20% dip c o m p a r e d

t i o n o f A g e r e S) stems" o p t o -

with $335nl ill 2001. Net loss

e l e c t r o n i c s business, paying

based on GAAP w:ls $158.6m

S40nl.This included products,

e o m p a r e d with a net loss of

iechnolog3 and s o m e facilities.

526.2ill in 200 l.TriQuini

And approxinlately 340 Agere

r e p o r t e d a pro-lbrlna profit of

enlployees joined TriQuint,

$2nl fin- fiscal 2002 c o n l p a r e d

s o m e 215 in Penns}lvania and

1o ,I pro-17.)rlTla p r o f i t o f $36m

125 in Matamoros, Mexico.

in 20OI, e x c h i d i n g charges and

Agere will supply c o m p o n e n l s

cipally from e x p e c t e d g r o w t h from its wireless p h o n e products. For the q u a r t e r e n d e d March. TriQuint fore casts revcntle in tile range of $60-$64m in primary markets, d o w n significantly from Q-i 2002 due to the normal sea S()l],l] softflcss and h)wcr average selling prices of ccrtain pri)ducts.

adiustmenls.

f(u" a short period t h r o u g h a

O p t o e l e c t r o n i c s b u s i n e s s from

Ralph Quinsey, President and

lransitional m a n u f a c t u r i n g

the Agere p u r c h a s e is e x p e c t e d

CE(), said "We tire using this

agreement, to e n s u r e seamless

to add a p p r o x i m a t e l y $S(1-

time to prudently invest in the

c u s t o m e r service, mostly

$751n in r e v e n u e fi)r fiscal

future of TriQuinl

sourced Iron1 the Breinigsville

2003, ST-$9m of that in the

public c()nlpanies, w h i c h con-

Semiconductor. ~,fc ]1 ;iX~C m a r e

facility. TriQuint acquires this

q u a r t e r ended March. On a

tinuc l() struggle in the lech

n e w m e m b e r s of lhc TriQuint

tacility lollowing the transition

consolidated basis, r e v e n u e is

IlO]Og% sct'tor doxvnturll %~;as

filmil) and they tire clearl)

and will also run tile back-end

estimated to be b e t w e e n

hlchidetl ;is was ;t $43. I111

d e n l o n s t r a t i n g that the n e w

assembly and test operations tit

568m- $73m for tile q u a r t e r

charge relalcd to i n c o n l c

TriQuint is greater than the

a leased facility in Matamoros,

ending Marcia and b e t w e e n

tax. and $ 3 9 9 m fi)r cerlaill

s u m of the parts.

Mexico.

$340-$375m tot 2003.

e q t l i p m e n l rehitillg to excess capacity and lacility space in l'riQtlinl's ()rcgon ()peralioll. A charge ()| S 1 ~,.-n/

relatilag l o

certain illvcslmelltS in 11019-

Mattson sells wet products division

Satellite drags on Emcore

.\latisonl~:chnol()g) has agreed

The c o m p a n i e s believe

to sell ils \Vet Products division

thai the integration of wet

Io '4( p (;hlbai117achnologies, a

cleaning technohlgies w i t h

~xct pr()ccssing e q u i p n l e i l l

dry (plasma) process t e c h n o l o -

pr()vider.Thc ~;llc is subject t()

gies provides an increased

cerlaiil conditions with closure

o p p o r l u n i t y to maiximise

cltlc (.)1 2()()3.,ks part o f the

p r o c e s s pcrformarlct~ restilts

transactioll, ,\latlsoil It, chnologx

for transistor fi)rnlation, post

will retain lhc rights lo all

etch or implant p r o c e s s w a f e r

t{mcore enjoyed a revelitie

severance charges.The

increase of 21% al $23m during

decrease was attributable to

its first quarler ending

less R&I) costs incurred on

I)ceember. 2002,compared to

Emcore's fiber-optic p r o d u c t

lhe pR*vious year. But that fig-

lille, as n e w c o n l p o n e n t s have

ure was still $2m lower than

been released for comniercial

the previous q u a r t e r

use. Net losses for tile quarter

Sequentially, systenls-related

were S3rn c o m p a r e d to a net

lv*,cnttes increased 22('0 from

loss i)f $14m, in the previous

$1 lm in the lourth quarter of

quarter.

2002 and materials-related revenues decreased 33% from

[tlttlrc rovaltx 'And settlelnelll

cleaning and prc-thernial

paylllCills ulldcr a legal agree

51 i111 in the same period.

p r o c e s s cleaning and tile), phin

lnenl with I)ainipp()n Screcll

Emcore attributed the dccrcase

t o cross license relex,int intel-

in sequential materials-related

Manufilcturing. Maltson anti 5CP

"Our improved operating perR)rmance enabled Emcore to repurchase ;l portion of its convertible debt, redtlcing interest e x p e n s e in future periods. Our

lectual property."

revenues primarily to its photi)-

strategic alliance it) dcvelop

I)avid 1. I)utton. C]~() of

voltaic product line duc to con-

intcgraied cleaning Icchnoh)

Mattson c o m m e n t e d : ' T h i s

tinued weakness in satellite

gies. $CP CE() alld presklent

Irallsactioll real1forces

Mark I)ctcrson saxs:"The COlllbi

otlr strategic 17)cus on

The o)ml~an ) has worked hard

a leading global supplier of

llaliOll o f ()/11" rcsotlrccs alld

e x t e n d h l g o u r l e a d e r s h i p in

Oll operating costs, n o w S9m

comnnmications components

are also in discussions to l()rnl a

infraslructure spending.

ix'ccitt acquisitions of Alvesta Corporation and Agere's West Coast optoelectronics operations e n h a n c e s our position as

Maitson Tcchnolog) s cstab-

ilcxt-gelleratioil ral)id t h e r m a l

conlpared to $19m a ),car ago.

fi)r tile data comnmnications,

Iislled w c l Icehnology will cre-

proeessing (RTP) and strip

Operating e x p e n s e s decreased

telecommunications, satellite

a{c ;i vei'% slrolll2, llUl'llber t w o

solutions and strellgt]lcns

by $4in, or 29%, from 513m

c o m m u n i c a t i o n s and CATV

im)vitler in the wel cleaning

$CP's position il1 the wet

reported in the prior sequential

markets." said Emcore's presi-

etltlipillelll markcl

clean m a r k e t .

q ua rtt r. after excltlding

dent & CEO R e u b e n Richards.

III-Vs REVIEW

....

VOL 16 - NO 2 - MARCH

2003