Brean Capital Raises Price Target on Qorvo (QRVO) to $62 Following 4Q Beat
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Qorvo® Reports Fiscal 2016 Fourth Quarter Results
May 4, 2016 4:01 PM EDTRevenue Diversification and Highly Integrated Solutions Expected to Drive Growth
GREENSBORO, N.C. and HILLSBORO, Ore., May 04, 2016 (GLOBE NEWSWIRE) --
Quarterly Financial Highlights
On a GAAP basis, quarterly revenue totaled $608.1 million, gross margin was 41.8%, operating income was $8.5 million, and loss per share was $0.18Â On a Non-GAAP basis, revenue was $607.1 million, gross margin was 50.0%, operating income was $160.6 million, and diluted EPS was $1.04Â Cash flow from operations was $160.5 million, with free cash flow of $76.1 millionQorvo repurchased approximately 10.0 million shares of common stockStrategic Highlights
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