QRVO FY 2014 Earnings Report — Qorvo, Inc. Revenue & Financial Results | Market Cap Arena

Qorvo, Inc.QRVO

FY 2014 Earnings

Reported March 31, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$1.1B	—	$964M	—	19.1%
Op. Income	$27M	—	-$16M	—	274.4%
Gross Margin	35.3%	—	31.7%	—	3.5pp
Net Margin	1.1%	—	-5.5%	—	6.6pp
EPS (Diluted)	$0.09	—	$-0.75	—	111.3%
Free Cash Flow	$63M	—	$17M	—	277.8%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$743M
GROSS PROFIT	$405M
R&D Expenses	$197M
Selling & Marketing	$75M
General & Administrative	$77M
SG&A Expenses	$151M
Other Expenses	$2M
Operating Expenses	$378M
Cost & Expenses	$1.1B
OPERATING INCOME	$27M
Interest Income	$179.0K
Interest Expense	$6M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$24M
Income Tax Expense	$11M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$74M
EBIT	$30M
EBITDA	$104M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$743M
GROSS PROFIT	$405M
R&D Expenses	$197M
Selling & Marketing	$75M
General & Administrative	$77M
SG&A Expenses	$151M
Other Expenses	$2M
Operating Expenses	$378M
Cost & Expenses	$1.1B
OPERATING INCOME	$27M
Interest Income	$179.0K
Interest Expense	$6M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$24M
Income Tax Expense	$11M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$74M
EBIT	$30M
EBITDA	$104M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$13M
Depreciation & Amortization	$74M
Stock-Based Compensation	$30M
Deferred Income Tax	$441.0K
Other Non-Cash Items	$17M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$131M
Capital Expenditure	-$68M
Acquisitions (Net)	$1M
Purchases of Investments	-$125M
Sales/Maturities of Investments	$134M
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$57M
Net Debt Issuance	$0
Common Stock Repurchased	-$13M
Common Dividends Paid	$0
Other Financing Activities	-$9M
NET CASH FROM FINANCING	-$4M
FREE CASH FLOW	$63M
Net Change in Cash	$70M

Balance Sheet

Item	Amount
Cash & Equivalents	$172M
Short-Term Investments	$72M
Net Receivables	$151M
Inventory	$126M
Other Current Assets	$4M
TOTAL CURRENT ASSETS	$537M
PP&E (Net)	$196M
Goodwill	$104M
Intangible Assets	$55M
Long-Term Investments	$4M
Tax Assets	$0
Other Non-Current Assets	$24M
TOTAL NON-CURRENT ASSETS	$383M
TOTAL ASSETS	$920M
Account Payables	$80M
Short-Term Debt	$87M
Deferred Revenue	$0
Other Current Liabilities	$1M
TOTAL CURRENT LIABILITIES	$220M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$884.0K
Other Non-Current Liabilities	$23M
TOTAL NON-CURRENT LIABILITIES	$24M
TOTAL LIABILITIES	$244M
Common Stock	$1.3B
Additional Paid-In Capital	$0
Retained Earnings	-$607M
Treasury Stock	$0
Accum. Other Comp. Income	-$785.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$676M
Minority Interest	$0
TOTAL EQUITY	$676M
TOTAL LIABILITIES & EQUITY	$920M
Total Debt	$87M
Net Debt	-$85M