We believe that restructuring related charges, acquisition and integration related costs, loss (gain) on assets, accelerated depreciation, start-up costs and certain non-cash expenses do not constitute part of Qorvo's ongoing operations 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 gives management and investors a more effective means of evaluating our historical and projected performance. 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. Qorvo® Unleashes Full 6 GHz Performance with New Wi-Fi 6E FEMs - Qorvo Qorvo today introduced two Wi-Fi 6E front end modules (FEMs) designed to maximize throughput and range in high-bandwidth applications such as 8K video streaming, online gaming and virtual reality. PDF Version. The following tables set forth selected GAAP and non-GAAP financial information for Qorvo for the periods indicated. Qorvo Launches First Fully Integrated Automotive eCall Switch with Industry-Leading Reliability and Performance 01/11/2021; Qorvo Introduces World's Smallest 20-Watt Single-Chip Programmable Motor Control and Drive Solution for Brushless DC Motors 01/04/2021; Visit our Press Release Section A list of major movies released in 2021, in release order! In addition to disclosing financial results calculated in accordance with United States (U.S.) generally accepted accounting principles (GAAP), this earnings release contains some or all of the following non-GAAP financial measures: (i) non-GAAP revenue, (ii) non-GAAP gross profit and gross margin, (iii) non-GAAP operating income and operating margin, (iv) non-GAAP net income, (v) non-GAAP net income per diluted share, (vi) non-GAAP operating expenses (research and development; selling, general and administrative), (vii) free cash flow, (viii) EBITDA, (ix) non-GAAP return on invested capital (ROIC), and (x) net debt or positive net cash. Qorvo, a provider of radio frequency (RF) chips, is well-poised to benefit from the increase in production ramp-up of Apple’s iPhones. All News: Press Releases: Official Publications: Sector news: MarketScreener Strategies: Analyst Recommendations: Qorvo : to Present at Wells Fargo TMT Virtual Summit. Qorvo defines free cash flow as net cash provided by operating activities during the period minus property and equipment expenditures made during the period. AP NEWS ... Qorvo serves diverse high-growth segments of large global markets, including advanced wireless devices, wired and wireless networks and defense radar and communications. Qorvo further provides defense customers with … 1Excludes stock-based compensation expense, amortization of intangible assets, restructuring related charges, acquisition and integration related costs, accelerated depreciation, loss (gain) on assets, start-up costs, gain (loss) on investments, other (income) expense and an adjustment of income taxes. GREENSBORO, N.C., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company’s fiscal 2021 second quarter, ended October 3, 2020. Browse through our press releases and financial results, and learn details of our upcoming events and newest products. Forward-looking non-GAAP measures. We are unable to provide a reconciliation of the forward-looking non-GAAP financial measures to the most directly comparable forward-looking GAAP financial measures without unreasonable effort due to variability and difficulty in making accurate projections for items that would be required to be included in the GAAP measures, such as stock-based compensation, acquisition and integration related costs, restructuring related charges, asset impairments and the provision for income taxes. GREENSBORO, N.C., July 29, 2020 (GLOBE NEWSWIRE) -- Qorvo ® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for … QORVO, INC. AND SUBSIDIARIESADDITIONAL SELECTED NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS(In thousands)(Unaudited), QORVO, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(In thousands)(Unaudited), At Qorvo®Doug DeLietoVP, Investor Relations1.336.678.7968, Qorvo® Announces Fiscal 2021 First Quarter Financial Results, Weighted average outstanding diluted shares, Acquisition and integration related costs, Loss (gain) on assets, start-up costs and other non-cash expenses, GAAP weighted average outstanding diluted shares, Non-GAAP weighted average outstanding diluted shares, Loss on assets, start-up costs and other non-cash expenses, Net cash provided by operating activities, Non-GAAP research and development expense, GAAP selling, general and administrative expense, Non-GAAP selling, general and administrative expense, Total liabilities and stockholders’ equity, Achieved record infrastructure revenue supporting 5G base station deployments and sampled GaN power amplifiers for upcoming U.S. C-band spectrum allocations, Ramped programmable power management solution and Wi-Fi 6 FEM for a leading drone manufacturer, enabling longer flight time, greater range and larger payload, Awarded design wins for integrated GaN multi-chip broadband Tx/Rx module and 50-watt GaN power amplifier for defense radar programs, Experienced continued strong demand for Wi-Fi 6 products, including FEMs and BAW filters, driven by work-from-home trends, Commenced shipments of integrated ultra-low power, multi-protocol Zigbee, BLE and Thread IoT solution supporting one of the largest providers of smart home infrastructure solutions, Requested an emergency use authorization (EUA) from the FDA for COVID-19 antibody testing using Qorvo Biotechnologies’ platform featuring a unique sensor technology, Ramped innovative antennaplexer solution addressing antenna network complexity and optimizing system efficiency for upcoming foldable smartphone, Captured complete main path (highly integrated low-band, mid-/high-band and ultra-high-band modules) at leading Android, Commenced high volume UWB shipments enabling superior accuracy and reliability in spatial awareness applications, including contact tracing/social distancing, for numerous customers globally, Increased mobile power management shipments, driven by adoption of 4G/5G dual transmit, Quarterly revenue in the range of $925 million to $955 million, Non-GAAP gross margin of approximately 50%, Non-GAAP diluted earnings per share of $1.90 at the midpoint of guidance, Note: fiscal year 2021 is a 53-week fiscal year, and the September quarter is a 14-week fiscal quarter. We use ROIC to track how much value we are creating for our shareholders. This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Also, we believe that non-GAAP financial measures provide useful supplemental information to investors and enable investors to analyze the results of operations in the same way as management. Net debt or positive net cash. In managing Qorvo's business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures. The MarketWatch News Department was not involved in the creation of this content. Our business is subject to numerous risks and uncertainties, including those relating to fluctuations in our operating results; our substantial dependence on developing new products and achieving design wins; our dependence on a few large customers for a substantial portion of our revenue; a loss of revenue if contracts with the United States government or defense and aerospace contractors are canceled or delayed or if defense spending is reduced; the COVID-19 outbreak, which has and will likely continue to negatively impact the global economy and disrupt normal business activities, and which may have an adverse effect on our results of operations; our dependence on third parties; risks related to sales through distributors; risks associated with the operation of our manufacturing facilities; business disruptions; poor manufacturing yields; increased inventory risks and costs due to timing of customer forecasts; our inability to effectively manage or maintain evolving relationships with platform providers; risks from international sales and operations; economic regulation in China; changes in government trade policies, including imposition of tariffs and export restrictions; our ability to implement innovative technologies; underutilization of manufacturing facilities as a result of industry overcapacity; we may not be able to borrow funds under our credit facility or secure future financing; we may not be able to generate sufficient cash to service all of our debt; restrictions imposed by the agreements governing our debt; volatility in the price of our common stock; damage to our reputation or brand; fluctuations in the amount and frequency of our stock repurchases; our recent and future acquisitions and other strategic investments could fail to achieve financial or strategic objectives; our ability to attract, retain and motivate key employees; our reliance on our intellectual property portfolio; claims of infringement of third-party intellectual property rights; security breaches and other similar disruptions compromising our information; theft, loss or misuse of personal data by or about our employees, customers or third parties; warranty claims, product recalls and product liability; and risks associated with environmental, health and safety regulations and climate change. 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