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gorvo Qorvo® Announces Fiscal 2022 Second Quarter Financial Results November 3 , 2021 GREENSBORO , N.C. , Nov. 03 , 2021 ( 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 2022 second quarter ended October 2 , 2021 . On a GAAP basis , revenue for Qorvo's fiscal 2022 second quarter was $ 1.255 billion , gross margin was 49.5 % , operating income was $ 362 million and diluted earnings per share was $ 2.84 . On a non - GAAP basis , gross margin was 52.4 % , operating income was $ 435 million and diluted earnings per share was $ 3.42 . Bob Bruggeworth , president and chief executive officer of Qorvo , said , " Qorvo delivered a strong September quarter and is executing well . We are sustaining investments in highly differentiated technologies and best - in - class products to extend our leadership and drive growth . After the quarter closed , Qorvo acquired United Silicon Carbide , an innovator in silicon carbide power devices and a pioneer in silicon carbide JFETs . The addition of United Silicon Carbide leverages Qorvo's wide bandgap competencies and expands our power franchise . " Strategic Highlights • Commenced shipments of MHB and UHB PADs , antenna tuners and multiple connectivity solutions to support the ramp of the Google Pixel 6 • Received initial production orders for MHB and UHB PADS , Wi - Fi FEMS , and high - performance discrete solutions enabling advanced functionality in upcoming Korea - based 5G mass - market smartphone platform • Expa ded UWB engagement with leading provider of consumer loT products covering a broad range of connected home devices and secured UWB design wins with multiple OEMs supporting enterprise access points and home mesh networks • Selected to supply UWB and Zigbee solutions with ConcurrentConnectTM technology to automaker in Korea , streamlining manufacturing automation • Began sampling 5.2 GHz / 5.6 GHz Wi - Fi 6 iFEMs with an integrated BAW filter , enabling higher capacity and improved efficiency in a reduced form factor • Selected by a major base station OEM to supply all RF transmit and receive path content , including BAW filters , for 5G small cells • Expanded defense product portfolio with industry - leading 125 - watt S - band power amplifier module and 1.8 - kilowatt L - band radar pallet for commercial and defense radar applications • Received first orders and commenced shipments of Qorvo OmniaTM Antigen Test Platform , including cartridges • After the quarter , acquired United Silicon Carbide to expand power franchise and enter higher voltage electrification applications Financial Commentary and Outlook Mark Murphy , chief financial officer of Qorvo , said , " After achieving a record September quarter , we expect December quarter revenue to decrease sequentially amidst ongoing supply challenges and other factors impacting global smartphone demand . In the March quarter , we expect these challenges to moderate . We expect our full fiscal year 2022 to grow 15 % and to deliver gross margin over 52 % . " Qorvo currently believes the supply / demand environment supports the following expectations for the December 2021 quarter : • Quarterly revenue of $ 1.09 billion to $ 1.12 billion • Non - GAAP gross margin between 52 % and 52.5 % • Non - GAAP diluted earnings per share of $ 2.75 at the midpoint of guidance Qorvo's actual quarterly results may differ from these expectations and projections , and such differences may be material . Selected Financial Information The following tables set forth selected GAAP and non - GAAP financial information for Qorvo for the periods indicated . See the more detailed financial information for Qorvo , including reconciliations of GAAP and non - GAAP financial information , attached . Revenue Gross profit Gross margin $ LA GA $ SELECTED GAAP RESULTS ( Unaudited ) ( In millions , except for percentages and EPS ) For the quarter For the quarter ended ended July 3 , 2021 1,110.4 October 2 , 2021 1,255.2 621.6 49.5 % $ $ 546.2 49.2 % $ $ Change vs. Q1 FY 2022 144.8 75.4 0.3 ppt