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AtHomeDad
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Updated:2006-05-16 09:06:06
RF Monolithics, Inc. to Present at FBR's 2006 Annual Growth Investor Conference
BUSINESS WIRE
DALLAS--(BUSINESS WIRE)----RF Monolithics, Inc. (Nasdaq:RFMI) (RFM) a leading developer, manufacturer and supplier of radio frequency wireless solutions announced today that David M. Kirk, President and Chief Executive Officer, will be presenting at the FBR Annual Growth Investor Conference on Wednesday, May 31, 2006. The conference, sponsored by Friedman, Billings, Ramsey & Co., Inc., a subsidiary of Friedman, Billings, Ramsey Group, Inc., allows investors, analysts and fund managers to hear about technologies, strategic missions and trend analyses directly from executives of leading technology, media and telecommunications, healthcare and consumer firms. The conference is being held at the Grand Hyatt New York Hotel, New York City, New York, May 31-June 1, 2006

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Veni Vidi Vici

Posts: 529 | From: CA | Registered: Jan 2005  |  IP: Logged | Report this post to a Moderator
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Updated:2006-06-15 16:49:37
RF Monolithics Reports 30% Quarterly Year-Over-Year Sales Growth in Fiscal Third Quarter; 3Q Net Income Increased Over 600% Comparatively and Doubled Sequentially
BUSINESS WIRE
DALLAS--(BUSINESS WIRE)----RF Monolithics, Inc. ("RFM" or the "Company") (Nasdaq:RFMI) today reported sales for its third quarter ended May 31, 2006 of $14.7 million, an increase of 30% compared to sales of $11.3 million in the third quarter of the prior fiscal year. The net income for the third quarter was $413,000 or $0.05 per diluted share compared to net income of $58,000 or $0.01 per diluted share for the third quarter of the prior year.


The Company's sales during the first nine months of fiscal 2006 were $39.7 million, an increase of 14% compared to $34.7 million for the same prior year's period. For the nine months ended May 31, 2006, net income was $504,000 or $0.06 per diluted share compared to net income of $686,000 or $0.08 per diluted share for the same period of the prior year.


President and CEO David M. Kirk commented, "This was another exceptionally strong quarter for us. We reported very strong year-over-year sales growth. This was our fifth sequential quarter of sales growth and we had a 1:1 book-to-bill ratio. We recorded a second consecutive quarter of strong bookings driven by healthy demand for our wireless components, primarily filters for the satellite radio market. Our gross profit margin was up 100 basis points, as compared to the third quarter of last year, due to increased sales volume, but down 80 basis points from the previous quarter, due primarily to product mix. Our quarterly net income increased 600% comparatively and doubled sequentially. Our year-to-date comparative net income was lower due to our recognition of stock compensation expense of approximately $473,000 and investment in our wireless solution strategy not incurred in the previous year.


"We continue to use our strong wireless component base to support our drive into wireless network solutions. Our Wireless Systems Group is aggressively seeking to capture a share of the eight billion dollar wireless networking market by developing or acquiring capabilities needed to serve this market. We believe wireless networks will provide the opportunity for rapid growth in both sales and income and enable us to develop a business far greater than our base component business.


"Based on our strong bookings, we expect sales to increase 20% to 25% as compared to the fourth quarter of last year. With the product mix of our bookings heavily weighted toward our filter and component products, we expect margins in the 27% to 29% range. The timing of some of our strategic investments may result in increased operating expense as we continue to aggressively implement our wireless solutions strategy."


Quarter Highlights:


-- This was the Company's fifth quarter of sequential sales growth. It represented a 30% year-over-year growth in sales and record sales of both Virtual Wire(R) and filter products. Included in sales this quarter were over a million dollars in filters for a new satellite radio chipset. The Company believes this growth demonstrates the strength of its ongoing relationships in this market.


-- The Company reported strong bookings again this quarter with record bookings of filters, primarily for satellite radio.


-- The Company reported a 29% gross profit margin, which was a 100 basis point improvement, due to increased volume, over its prior year's third quarter. This was an 80 basis point decrease from its previous quarter due to a shift in product mix toward filter products.


-- The Company reported positive operating cash flow of $1.4 million.


-- The Company qualified one of its offshore contract manufacturers to produce both its custom and standard wireless modules.


-- The Company shipped initial production quantities of its new custom and standard wireless system modules, RFICs, and its third generation of Virtual Wire(R) products.


-- The Company was issued its first patent for its Wireless Systems Group.

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Veni Vidi Vici

Posts: 529 | From: CA | Registered: Jan 2005  |  IP: Logged | Report this post to a Moderator
   

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