/AIS false 2015 10-K PDF Format Download (opens in new window) PDF 2.88 MB. 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. 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. Qorvo annual revenue for 2018 was $2.974B, a 1.95% decline from 2017. Non-GAAP net income and non-GAAP net income per diluted share. 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. endobj 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. Joe Calabrese /Producer (�� Q t 4 . We believe that acquisition and integration related costs and IPR litigation costs (settlement) 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. 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 1, 2017 or ¨ TRANSITION REPORT PURSUANT TO … 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. Where to Invest $10,000; 50 Companies to Watch in 2018; Where to Invest $1 Million; Follow. Gross margin decreased year-over-year due primarily to product mix shift to low band PAD products. Qorvo, Inc. Moreover, we believe that the exclusion of stock-based compensation expense in presenting non-GAAP gross profit and gross margin and other non-GAAP financial measures is useful to investors to understand the impact of the expensing of stock-based compensation to Qorvo's gross profit and gross margins and other financial measures in comparison to both prior periods as well as to its competitors. Find the latest Qorvo, Inc. (QRVO) stock quote, history, news and other vital information to help you with your stock trading and investing. endobj Second Quarter. Qorvo's annual revenues are over $500 million (see exact revenue data). 2017 Proxy Statement PDF Format Download (opens in new window) PDF 2.51 MB. stream We use free cash flow as a supplemental financial measure in our evaluation of liquidity and financial strength. Annual Report 2016 Form 10-K (NASDAQ:QRVO) Published: May 31st, 2016 PDF generated by stocklight.com . Qorvo has generated $5.71 earnings per share over the last year and currently has a price-to-earnings ratio of 54.0. Add Files. Qorvo will conduct a conference call at 5:00 p.m. EST today to discuss today's press release. 8 . In developing and monitoring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing gross margin and operating margin. 2015. 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. Learn about our cutting-edge foundry technologies! In depth view into Qorvo Revenue (Annual) including historical data from 2015, charts, stats and industry comps. We believe that presentation of a measure of operating income and operating margin that excludes amortization of intangible assets and stock-based compensation expense is useful to both management and investors for the same reasons as described above with respect to our use of non-GAAP gross profit and gross margin. 336-678-7088, At the Financial Relations Board Add Files. 2017 Annual Report; PDF ; 2016 Annual Report; PDF ; Show 1 more archive; 2015 Annual Report; PDF ; About Qorvo, Inc. 5001-10,000 Employees. 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. 2016 CSR Report PDF Format Download (opens in new window) PDF 6.30 MB. 3����XéK�6�w�~|�x<7z�i_��k�]�\~��[Y\������f��M�G�����?��~~����s�}5��|οÍ��J��}K��ϵy�Lo���^�y�|�{y�~~|��x��e��r�|��kG�7wFZ��Ȭv`����[�:����a�o��4��b=Oh�_/gL�,�q��H� _k\|�'y��ǎ��>k���+y�%�=m2��"n͙{�q��G�� gG�� 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. /Length 9 0 R Free cash flow. Buy Direct from Qorvo Sales We now expect sales of BAW-based products will increase from less than a third of Mobile Products revenue in fiscal year 2018 to approaching 40% in fiscal year 2019. Corporate Social and Environmental Responsibility, A Comprehensive Guide to mmWave Solutions, A Look Inside the U.S. Army's Counterfire Radar System, People Power and Qorvo Deliver Smart Internet of Things Systems, Qorvo and BQ: How Your Smartphone Connects, Smart Home Energy Management with Levarys and Qorvo, Go to Corporate Social and Environmental Responsibility, Weighted average outstanding diluted shares, Acquisition and integration related costs, GAAP weighted average outstanding diluted shares, Non-GAAP weighted average outstanding diluted shares, Non-cash deferred royalty revenue and equal and offsetting, 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, On a GAAP basis, fiscal 2017 third quarter revenue was $826.3 million, gross margin was 37.6%, operating income was $61.4 million, and loss per share was $0.62, On a Non-GAAP basis, fiscal 2017 third quarter revenue was $825.4 million, gross margin was 44.3%, operating income was $208.7 million, and diluted EPS was a record $1.35, During the quarter, Qorvo released into production its next-generation BAW 5 filter technology, providing a 40% increase in Q factor for improved insertion loss and a 20% increase in coupling factor to provide wider bandwidths; the company commenced open-market sampling and received production orders, Mobile Products (MP) revenue grew 34% year-over-year to $656.8 million, driven by sales of integrated solutions and highly differentiated discrete components to manufacturers of marquee smartphones and leading China-based smartphone OEMs, MP secured multiple design wins for complete system solutions combining low-, mid- and high-band, Infrastructure and Defense Products (IDP) revenue grew 29% year-over-year to a record $168.6 million, supported by product and technology leadership in radar, base station, WiFi and IoT applications, IDP introduced the industry's first multi-protocol SoC to integrate IEEE 802.15.4, ZigBee® 3.0, Thread and Bluetooth Low Energy communication protocols for sensors and actuators throughout the home, IDP enjoyed broad-based design win activity, highlighted by a complete RF solution win with content above $5 at a leading WiFi router OEM, multiple GaN wins for radar, electronic warfare and wireless infrastructure, and the adoption of BAW filters in automotive applications, IDP made substantial progress on efforts to consolidate GaN manufacturing, successfully transferring Greensboro GaN-based products to Richardson, Texas, and achieving customer qualification, To support growth in TC-SAW, Qorvo successfully transferred an industry-leading product from its 4-inch line in Florida to its 6-inch facility in Greensboro and commenced high-volume customer shipments, Quarterly revenue in the range of $610 million to $650 million, Diluted EPS in the range of $0.70 to $0.90. LOGIN; PREMIUM; FREE TRIAL; REQUEST DEMO; FIND COMPANIES; Qorvo, Inc. (QRVO) SEC Filing 10-K Annual report for the fiscal year ending Saturday, March 28, 2020. 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. Get ready for the future of IoT and mobile communication. Request a Quote 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. Add Files. We further compensate for the limitations of our use of non-GAAP financial measures by presenting the corresponding GAAP measures more prominently. 2017 CSR Report PDF Format Download (opens in new window) PDF 18.29 MB. Qorvo® Stockholders Approve All Proposals During 2017 Annual Meeting of Stockholders Email Print Friendly Share 08 août 2017 12h00 HE | Source : Qorvo, Inc. 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. 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. Qorvo's GaN technology helps keep you connected and protected. We use ROIC to track how much value we are creating for our shareholders. Additionally, our definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations. See the more detailed financial information for Qorvo, including reconciliation of GAAP and non-GAAP financial information, attached. For details, please see our Privacy Policy. View the latest QRVO financial statements, income statements and financial ratios. Qorvo (NASDAQ:QRVO) makes a better world possible by providing innovative RF solutions at the center of connectivity. 2021. 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. Average invested capital is calculated by subtracting the average of the beginning balance and the ending balance of current liabilities (excluding the current portion of long-term debt and other short-term financings) from the average of the beginning balance and the ending balance of net accounts receivable, inventories, other current assets, net property and equipment and a cash amount equal to seven days of quarterly revenue. endobj We believe disclosure of non-GAAP gross profit and gross margin has economic substance because the excluded expenses do not represent continuing cash expenditures and, as described above, we have little control over the timing and amount of the expenses in question. Qorvo US's Annual Report & Profile shows critical firmographic facts: What is the company's size? 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 playback will be available through the close of business February 8, 2017. /CreationDate (D:20170623093659Z) Non-GAAP revenue excludes non-cash deferred royalty revenue. VP, Investor Relations 2016 … We also leverage our unique competitive strengths to advance 5G networks, cloud computing, the Internet of Things, and other emerging applications that expand the global framework interconnecting people, places and things. SEC Filings. Management believes that this measure is useful to evaluate our ongoing operations and as a general indicator of our operating cash flow (in conjunction with a cash flow statement which also includes among other items, changes in working capital and the effect of non-cash charges). 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. "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. /Creator (�� w k h t m l t o p d f 0 . Annual Reports & Proxies; Quarterly Results; IRS Form 8937; Stock Information. 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. Doug DeLieto << The Investor Relations website contains information about Qorvo, Inc.'s business for stockholders, potential investors, and financial analysts. Explore the latest additions to our product portfolio. GAAP revenue is expected to reconcile within $1.0 million of the quarterly forecasted non-GAAP revenue. Based in Greensboro, North Carolina. Buy Online >> 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. QRVO 2019 Annual Report 408.4 KB. /Type /ExtGState 8 0 obj QUARTERLY RESULTS Show all. 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. Based in Greensboro, North Carolina. In May 2017, the FASB issued ASU 2017-09, "Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting." It is classified as operating in the Electron Tube Manufacturing industry. We supported the launch of marquee smartphones and leading China-based OEMs and delivered record revenue in IDP. We believe that presentation of measures of net income and net income per diluted share that exclude these items is useful to both management and investors for the reasons described above with respect to non-GAAP gross profit and gross margin and non-GAAP operating income and operating margin. We are also forecasting year-over-year content gains in marquee smartphones, driven by low-band PADs, envelope trackers and tuners.". The company, which trades on NASDAQ, was created by the merger of TriQuint Semiconductor and RF Micro Devices, which was announced in 2014 and completed on January 1, 2015. Visit website. Qorvo (Filer) Form 10-K Annual report pursuant to Section 13 or 15(d) 05/18/2020 3:17 PM: Murphy Mark J. View HTML Non-GAAP gross profit and gross margin. 2016. Toggle navigation. /Width 849 Qorvo annual revenue for 2020 was $3.239B, a 4.82% increase from 2019. (Annual sales and employees) ... ($ Million) Growth Rate (%) # Employees; 2019: Details in Premium Report: 2018: 2017: 2016: 2015: 2014: 1-Year Growth Rate: 3-Year Growth Rate (CAGR): Note: Qorvo US's revenues are gauged from an analysis of company filings. … EBITDA. /SA true Free cash flow should be considered in addition to, rather than as a substitute for, net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. Qorvo annual revenue for 2019 was $3.09B, a 3.93% increase from 2018. Non-GAAP operating income and operating margin. << 4 0 obj 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 QRVO 2019 Annual Report 408.4 KB. Add Files. Contact a Sales Representative A month has gone by since the last earnings report for Qorvo (QRVO). 2017 Annual Report and 2018 Proxy Statement 11.1 MB. Annual Report 2019 Form 10-K (NASDAQ:QRVO) Published: May 17th, 2019 PDF generated by stocklight.com . Each of these non-GAAP financial measures is either adjusted from GAAP results to exclude certain expenses or derived from multiple GAAP measures, which are outlined in the "Reconciliation of GAAP to Non-GAAP Financial Measures" tables, attached, and the "Additional Selected Non-GAAP Financial Measures and Reconciliations" tables, attached. RSS; Print; Share this: Facebook Twitter LinkedIn. Request a Sample Shares have added about 8.5% in that time frame, outperforming the S&P 500. We provide these non-GAAP measures to investors on a prospective basis for the same reasons (set forth above) that we provide them to investors on a historical basis. Our earnings release contains forward-looking non-GAAP revenue, gross margin, income tax rate and diluted earnings per share. << ... from Qorvo’s Annual Report on Form 10-K for the fiscal year ended April 1, 2017. /SMask /None>> Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Qorvo, Inc. (QRVO) using our online tools. /Height 317 Add Files . 1 2 . Annual Reports. However, these non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. 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. Qorvo, Inc. We believe that presentation of measures of these operating expenses that exclude amortization of intangible assets and stock-based compensation expense is useful to both management and investors for the same reasons as described above with respect to our use of non-GAAP gross profit and gross margin. Qorvo has not formally confirmed its next earnings publication date, but the company's estimated earnings date is Wednesday, February 3rd, 2021 based off prior year's report dates. Non-GAAP operating income and operating margin exclude stock-based compensation expense, amortization of intangible assets, acquired inventory step-up and revaluation, restructuring and disposal costs, acquisition and integration related costs, intellectual property rights (IPR) litigation costs (settlement), loss (gain) on assets, start-up costs and certain non-cash expenses. Title View; Add Files. GREENSBORO, NC – May 3, 2017 – Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company's fiscal 2017 fourth quarter, ended April 1, 2017. 2017 Annual Report; PDF ; 2016 Annual Report; PDF ; Show 1 more archive; 2015 Annual Report; PDF ; About Qorvo, Inc. 5001-10,000 Employees. 2015 Annual Report and 2016 Proxy Statement 5.7 MB. Net debt or positive net cash. >> 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. Non-GAAP research and development, marketing and selling and general and administrative expenses exclude stock-based compensation expense, amortization of intangible assets, acquisition and integration related costs, IPR litigation costs (settlement) and certain non-cash expenses. QRVO 2020 Proxy Statement 5.9 MB. Qorvo's Annual Report & Profile shows critical firmographic facts: What is the company's size? Historic Stock Lookup; Investment Calculator ; Stock Splits; Analyst Coverage; Investor FAQs; Email Alerts; Request Information; Shareholder Tools. The conference call will be broadcast live over the Internet and can be accessed by any interested party at http://www.qorvo.com (under "Investors"). 2���x� �y㊿�C����d�yn��՝�=�x^��U{��#�Q��4�Q�I��ȼ�w�N_�*�6�AC�o7{�J�N�5������۶C:�l�=��y��+�}�zo�5M}Ґ��/3�����Q6q���-�8�?�?c}����f��=V���a:c�>��=~�7;�2C���ڲ��|�(;z?����k�� `g�F���LT��Q���>���c�Gi���Ո�9Z�W�j���b�z]e��_*��֊S�g�@�~���,��Λľ�-�N��Fk��/BGe��65���WK��b��R����Ze�n6�/G� We believe disclosure of these non-GAAP operating expenses has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. Non-GAAP gross profit and gross margin exclude stock-based compensation expense, amortization of intangible assets, acquired inventory step-up and revaluation, non-cash deferred royalty revenue, non-cash prepaid royalty amortization, and certain non-cash expenses. Annual stock financials by MarketWatch. Title View; Add Files. /Title (�� D o c u m e n t) "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. 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, Inc. (QRVO) 10-K Annual Report Wed May 20 2020. 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 … July 26, 2017 minus property and equipment expenditures made during the period NASDAQ: QRVO ) Published May... Financial position Wed May 20 2020 50 Companies to Watch in 2018 ; where Invest. Of our use of non-GAAP financial measures by presenting the corresponding GAAP measures more prominently year-over-year content gains in smartphones! And quarterly financial reports, income tax rate and diluted earnings per share over the last earnings for. Were 127,267,751 shares of the registrant ’ s Annual Report 2016 Form 10-K the! Investment Calculator ; Stock Splits ; Analyst Coverage ; Investor FAQs ; Email Alerts ; Request information Shareholder... 18.29 MB 10,000 ; 50 Companies to Watch in 2018 ; where to Invest $ 10,000 50... 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Doug DeLieto VP, Investor Relations website contains information about qorvo, (! 2019 PDF generated by stocklight.com a company 's size today 's press release PADs, envelope trackers and tuners ``! Earnings Report for qorvo ( NASDAQ: QRVO ) stockholders, potential investors, and financial ratios shows firmographic. Wireless networks and defense radar and communications QRVO financial statements, income tax expense ( benefit ) depreciation! Playback will be available through the close of business February 8, 2017 PDF generated by stocklight.com about %! Gan technology helps keep you connected and protected flow as a supplemental financial measure in evaluation. Which provides a continuing view of a company 's financial position the corresponding GAAP more... Csr Report PDF Format Download ( opens in new window ) PDF 2.51 MB Inc ( QRVO 10-K... Period minus property and equipment expenditures product and technology leadership, systems-level expertise and global scale! 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