/Creator (�� w k h t m l t o p d f 0 . Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company's fiscal year 2017 third quarter, ended December 31, 2016. Qorvo currently believes the demand environment in its end markets supports the following non-GAAP expectations for the March 2017 quarter: The following tables set forth selected GAAP and non-GAAP financial information for Qorvo for the periods indicated. Net debt or positive net cash is defined as unrestricted cash, cash equivalents and short-term investments minus any borrowings under our credit facility and the principal balance of our senior unsecured notes. ... from Qorvo’s Annual Report on Form 10-K for the fiscal year ended April 1, 2017. We believe that these non-GAAP financial measures offer an additional view of Qorvo's operations that, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of Qorvo's results of operations and the factors and trends affecting Qorvo's business. 2015 10-K PDF Format Download (opens in new window) PDF 2.88 MB. >> Buy Online /CreationDate (D:20170623093659Z) Qorvo (NASDAQ:QRVO) makes a better world possible by providing innovative RF solutions at the center of connectivity. On a non-GAAP basis, gross margin was 44.3%, operating expenses were $157.1 million, operating income was $208.7 million, or 25.3% of sales, and net income was $177.3 million, or diluted EPS of $1.35. Read the latest RF trends, how-to articles, design tips and more from Qorvo experts. The primary material limitations associated with the use of non-GAAP revenue, non-GAAP gross profit and gross margin, non-GAAP operating expenses, non-GAAP operating income and operating margin, non-GAAP net income, non-GAAP diluted earnings per share, free cash flow, EBITDA, non-GAAP ROIC and net debt or positive net cash, as an analytical tool compared to the most directly comparable GAAP financial measures of gross profit and gross margin, operating expenses, operating income, net income, diluted earnings per share and net cash provided by operating activities are (i) they may not be comparable to similarly titled measures used by other companies in our industry, and (ii) they exclude financial information that some may consider important in evaluating our performance, thus limiting their usefulness as a comparative tool. We believe that exclusion of these costs in presenting non-GAAP gross profit and gross margin gives management and investors a more effective means of evaluating Qorvo's historical performance and projected costs and the potential for realizing cost efficiencies. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Return on invested capital (ROIC) is a non-GAAP financial measure that management believes provides useful supplemental information for management and the investor by measuring the effectiveness of our operations' use of invested capital to generate profits. EBITDA. /CA 1.0 (1) Free Cash Flow is calculated as net cash provided by operating activities minus property and equipment expenditures. x��}}hUK����p॔�K��P�0���!��4� !�4W$���B �� 6���� 6���Bi�����4� "bS�r���onX���>f晵f��y����k�fͳf���J˂��#\�${�'�& Add Files. /SA true Non-GAAP ROIC. Qorvo revenue for the twelve months ending September 30, 2020 was $3.505B, a 13.22% increase year-over-year. 2016 CSR Report PDF Format Download (opens in new window) PDF 6.30 MB. 8 0 obj Shares have added about 8.5% in that time frame, outperforming the S&P 500. Qorvo uses cookies and other technologies to enhance your experience, display customized content, secure our website and help us understand how our website is used. Qorvo Inc. Qorvo's GaN technology helps keep you connected and protected. Annual Report 2017 Form 10-K (NASDAQ:QRVO) Published: May 23rd, 2017 PDF generated by stocklight.com . 1 2 . 336-678-7088, At the Financial Relations Board Free cash flow. As of July 26, 2017, there were 127,267,751 shares of the registrant’s common stock outstanding. Qorvo will conduct a conference call at 5:00 p.m. EST today to discuss today's press release. "In the March quarter, we're forecasting a greater than historical sequential decline as two of our leading customers in China and a tier-one customer in Korea delay flagship smartphone launches. Management believes that this measure is useful as an indicator of our ability to service our debt, meet other payment obligations and make strategic investments. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under the federal securities laws. The income tax adjustment primarily represents the use of net operating loss and research and development tax credit carryforwards, deferred tax expense not affecting taxes payable, tax deductible stock-based compensation expense in excess of GAAP stock-based compensation expense, and non-cash expense (benefit) related to uncertain tax positions. QRVO 2019 Annual Report 408.4 KB. View the latest QRVO financial statements, income statements and financial ratios. /SMask /None>> Management believes that net debt or positive net cash provides useful information regarding the level of Qorvo's indebtedness by reflecting cash and investments that could be used to repay debt. QRVO 2020 … A month has gone by since the last earnings report for Qorvo (QRVO). Qorvo annual revenue for 2018 was $2.974B, a 1.95% decline from 2017. We believe that the exclusion of this non-cash adjustment to revenue provides management and investors a more effective means of evaluating our historical and projected performance. Qorvo annual revenue for 2020 was $3.239B, a 4.82% increase from 2019. Qorvo, Inc. See All Buying Options. Non-GAAP ROIC is calculated by dividing annualized non-GAAP operating income, net of an adjustment for income taxes (as described above), by average invested capital. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 30, 2019 or ¨ TRANSITION REPORT PURSUANT TO … We are also forecasting year-over-year content gains in marquee smartphones, driven by low-band PADs, envelope trackers and tuners.". 2016. We compensate for these limitations by providing full disclosure of the differences between these non-GAAP financial measures and the corresponding GAAP financial measures, including a reconciliation of the non-GAAP financial measures to the corresponding GAAP financial measures, to enable investors to perform their own analysis of our gross profit and gross margin, operating expenses, operating income, net income, net income per diluted share and net cash provided by operating activities. GAAP revenue is expected to reconcile within $1.0 million of the quarterly forecasted non-GAAP revenue. Qorvo, Inc. In addition, management relies upon these non-GAAP financial measures to assess whether research and development efforts are at an appropriate level, and when making decisions about product spending, administrative budgets, and other operating expenses. Gross margin was 37.6%, operating expenses were $249.2 million, operating income was $61.4 million, and net loss was $78.6 million, or a loss of $0.62 per share. Visit website. VP, Investor Relations 212-827-3772. /Height 317 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 2, 2016 or ¨ TRANSITION REPORT PURSUANT TO … endobj Add Files. /Length 9 0 R Qorvo's Annual Report & Profile shows critical firmographic facts: What is the company's size? Request a Quote Annual Report 2018 Form 10-K (NASDAQ:QRVO) Published: May 21st, 2018 PDF generated by stocklight.com . For details, please see our Privacy Policy. Add Files. Net debt or positive net cash. GREENSBORO, NC – August 7, 2018 – Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, today announced that all proposals at Qorvo's 2018 Annual Meeting of Stockholders were approved by the stockholders. Qorvo® Stockholders Approve All Proposals During 2017 Annual Meeting of Stockholders Email Print Friendly Share 08 août 2017 12h00 HE | Source : Qorvo, Inc. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers' most complex technical challenges. %PDF-1.4 /Subtype /Image 8 . Qorvo has generated $5.71 earnings per share over the last year and currently has a price-to-earnings ratio of 54.0. 3 0 obj 2016 … 2017 Annual Report; PDF ; 2016 Annual Report; PDF ; Show 1 more archive; 2015 Annual Report; PDF ; About Qorvo, Inc. 5001-10,000 Employees. We also believe that the adjustments to profit and margin related to non-cash deferred royalty revenue, non-cash prepaid royalty amortization, acquired inventory step-up and revaluation, restructuring and disposal costs and certain non-cash expenses do not constitute part of Qorvo's ongoing operations and therefore the exclusion of these items provides management and investors with better visibility into the actual revenue and actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. Limitations of non-GAAP financial measures. Where to Invest $10,000; 50 Companies to Watch in 2018; Where to Invest $1 Million; Follow. Qorvo (Filer) Form 10-K Annual report pursuant to Section 13 or 15(d) 05/18/2020 3:17 PM: Murphy Mark J. In this regard, we note that (i) once the intangibles are fully amortized, the intangibles will not be replaced with cash costs and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time, and (ii) although we set the amortization expense based on useful life of the various assets at the time of the transaction, we cannot influence the timing and amount of the future amortization expense recognition once the lives are established. Qorvo, Inc. /ca 1.0 2016 Annual Report and 2017 Proxy Statement 7.6 MB. Annual Report 2016 Form 10-K (NASDAQ:QRVO) Published: May 31st, 2016 PDF generated by stocklight.com . Special Reports. Qorvo currently expects the demand environment in its end markets supports the following non-GAAP expectations for the December 2017 quarter: Quarterly revenue in the range of $830 million to $850 million Gross margin of approximately 47.5% Diluted EPS of $1.60 at the midpoint of guidance 4 0 obj 2015 Annual Report and 2016 Proxy Statement 5.7 MB. Buy from an Authorized Channel Partner Add Files. "Of note, we achieved a significant performance milestone in BAW filter resonator performance, and we are competing today on the most complex BAW-based product opportunities. Learn about our cutting-edge foundry technologies! /AIS false A telephone playback of the conference call will be available approximately two hours after the call's completion and can be accessed by dialing 719-457-0820 and using passcode 8513751. 2017 Annual Report; PDF ; 2016 Annual Report; PDF ; Show 1 more archive; 2015 Annual Report; PDF ; About Qorvo, Inc. 5001-10,000 Employees. We believe disclosure of non-GAAP net income and non-GAAP net income per diluted share has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. On a sequential basis, gross margin increased due primarily to improvements in yields of low band PAD-related products. Qorvo currently expects the demand environment in its end markets supports the following non-GAAP expectations for the September 2017 quarter: Quarterly revenue in the range of $800 million to $820 million Gross margin of approximately 47.8%, up 50 bps from the prior quarter Diluted EPS in … … Bob Bruggeworth, president and chief executive officer of Qorvo, said, "In the December quarter, Qorvo grew 33% year-over-year while exceeding our operating margin target for the quarter. 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