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RF Micro Devices (RFMD) - Press Release 11-12-2008
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RFMD®Signs $1.4M Contract with U.S. Department
of Defense
for Development of GaN Technology and High-Power RF Solutions
RFMD's Releases Its GaN Process Technology For Production Designs
In The Company's High-Volume Commercial Wafer Fab
NEW YORK, Nov. 12 /PRNewswire-FirstCall/ -- RF Micro Devices,
Inc. (Nasdaq: RFMD), a global leader in the design and manufacture
of high-performance semiconductor components, announced at its fourth
annual Analyst Day today that the Company has signed a 12-month contract
with the United States Department of Defense (DoD) valued at $1.4 million
for the development of Gallium Nitride (GaN) technology and high-power
RF solutions.
The contract award (#FA8650-05-C-5411) represents
an extension to previous contracts with the DoD and is in support of
RFMD's ongoing GaN RF power technology project. The goals of the program
include reliability verification, passive element development and technology
qualification of a manufacturable 48V GaN RF power process for amplifiers
and switches. In addition, the current program supports the demonstration
of wideband, high power GaN MMIC amplifier and switch circuits targeting
L, S, and C-band applications.
RFMD has recorded contract revenue
in excess of $1M over the last six months. Furthermore, RFMD expects
to receive additional DoD contract awards in calendar year 2009. Beyond
the current program, RFMD currently has $5M in contract backlog to expand
the capabilities of its GaN RF technology over the next 18 months and
has received nearly $10M in DoD contract funding since 2004. This additional
funding is intended to extend the cut-off frequency of RFMD's GaN process
up to 90GHz.
Jeff Shealy, vice president and general manager
of RFMD's Aerospace & Defense Business Unit, said, "We are very
pleased to receive continued DoD support for our GaN high power RF technology
targeting military and civilian radar systems and multi-band radios
requiring wideband, high efficiency amplifiers up to 500 watts. Looking
forward, we are also fortunate to have future program support to expand
the frequency capability of our GaN process into millimeter wave frequencies,
enabling us to target new radar, electronic warfare (EW) and Satcom
radio applications."
Bob Van Buskirk, president of RFMD's Multi-Market
Products Group, said, "Our recent award and strong DoD contract funding
backlog highlight our growing presence in the Aerospace & Defense
marketplace and underscore our leadership in the development and manufacture
of advanced compound semiconductor technologies. RFMD anticipates its
efforts in GaN RF power technology development will support multiple
advances across a range of applications including Aerospace & Defense,
wireless infrastructure and CATV infrastructure."
RFMD anticipates
its GaN RF power technology will deliver configurable wideband, high
power amplifiers with improved efficiency and ruggedness, versus currently
available high power RF technologies. Configurable wideband amplifiers
enable radio architecture convergence with reduced bill of materials
(BOM) complexity, while improved ruggedness adds further protection
in challenging operating environments. RFMD expects to offer GaN at
very competitive pricing as it is produced internally by the world's
largest GaAs manufacturer and given the company's high-volume supply
chain. The addressable market for GaN RF power technology is expected
to be approximately $172 million by 2012, driven by Aerospace &
Defense, 3G-BTS, WiMAX infrastructure and CATV. GaN for WiMAX will depend
strongly on the LTE market penetration and on the related frequency
in use.
Separately, RFMD announced today that its GaN process
technology, fabricated in the Company's high-volume commercial wafer
fab, has been released for production designs for a broad range of Aerospace &
Defense and commercial applications.
RFMD's Aerospace & Defense
Business Unit has a proven track record of operational excellence and
a demonstrated legacy of successful military programs and space program
flight history. The Aerospace & Defense Business Unit delivers world-class
product innovation and global customer support via multiple design and
manufacturing facilities located in North America and Europe. Manufacturing
facilities for military and space-level programs are equipped with complete
reliability analysis labs as well as in-house screening and qualification
with AS9100 certification. For more information please see
www.rfmd.com/aerospacedefense.
About RFMD: RF Micro Devices, Inc. (Nasdaq GS: RFMD) is a global
leader in the design and manufacture of high-performance semiconductor
components. RFMD's products enable worldwide mobility, provide enhanced
connectivity and support advanced functionality in the cellular handset,
wireless infrastructure, wireless local area network (WLAN), CATV/broadband
and aerospace and defense markets. RFMD is recognized for its diverse
portfolio of semiconductor technologies and RF systems expertise and
is a preferred supplier to the world's leading mobile device, customer
premises and communications equipment providers.
Headquartered
in Greensboro, N.C., RFMD is an ISO 9001- and ISO 14001-certified manufacturer
with worldwide engineering, design, sales and service facilities. RFMD
is traded on the NASDAQ Global Select Market under the symbol RFMD.
For more information, please visit RFMD's web site at
www.rfmd.com.
This press release includes "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements include,
but are not limited to, statements about our plans, objectives, representations
and contentions and are not historical facts and typically are identified
by use of terms such as "may," "will," "should," "could," "expect,"
"plan," "anticipate," "believe," "estimate," "predict," "potential,"
"continue" and similar words, although some forward-looking statements
are expressed differently. You should be aware that the forward-looking
statements included herein represent management's current judgment and
expectations, but our actual results, events and performance could differ
materially from those expressed or implied by forward-looking statements.
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.
RF Micro Devices' business is subject to numerous risks and uncertainties,
including variability in quarterly operating results, the rate of growth
and development of wireless markets, risks associated with our planned
exit from our wireless systems business, including cellular transceivers
and GPS solutions, the risk that restructuring charges may be greater
than originally anticipated and that the cost savings and other benefits
from the restructuring may not be achieved, risks associated with the
operation of our wafer fabrication facilities, molecular beam epitaxy
facility, assembly facility and test and tape and reel facilities, our
ability to complete acquisitions and integrate acquired companies, including
the risk that we may not realize expected synergies from our business
combinations, our ability to attract and retain skilled personnel and
develop leaders, variability in production yields, our ability to reduce
costs and improve gross margins by implementing innovative technologies,
our ability to bring new products to market, our ability to adjust production
capacity in a timely fashion in response to changes in demand for our
products, dependence on a limited number of customers, and dependence
on third parties. These and other risks and uncertainties, which are
described in more detail in RF Micro Devices' most recent Annual Report
on Form 10-K and other reports filed with the Securities and Exchange
Commission, could cause actual results and developments to be materially
different from those expressed or implied by any of these forward-looking
statements.
RF MICRO DEVICES(R) and RFMD(R) are trademarks of
RFMD, LLC. All other trade names, trademarks and registered trademarks
are the property of their respective owners. SOURCE RF Micro Devices,
Inc. 11/12/2008
CONTACT:
Dean Priddy, CFO, 1-336-678-7975, or
Doug DeLieto, VP,
Investor Relations, 1-336-678-7968, or Jerry Neal
EVP, Marketing and
Strategic Development, 1-336-678-7001, all of
RFMD
Web Site: http://www.rfmd.com
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