GREENSBORO, N.C. (AP) — GREENSBORO, N.C. (AP) — Qorvo Inc. (QRVO) on Tuesday reported fiscal fourth-quarter net income of $31.4 million.
The Greensboro, North Carolina-based company said it had net income of 33 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.42 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The chipmaker posted revenue of $869.5 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $851.7 million.
For the year, the company reported profit of $55.6 million, or 58 cents per share. Revenue was reported as $3.72 billion.
For the current quarter ending in June, Qorvo expects its per-share earnings to range from 50 cents to 75 cents.
The company said it expects revenue in the range of $750 million to $800 million for the fiscal first quarter.
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