It would be helpful to stick, please give us a rough break out of what the business looks like today in terms of the end markets or product categories however you choose to delineate within the business? We ended the quarter with $1.1 billion of cash and an untapped $300 million unsecured revolver. As my follow-up, I wanted to ask about sort of the emergence of the mid-tier in 5G in particular in China. Just wanted to get a sense from you in terms of adoption of GaN base stations relative to LDMOS in the 5G infrastructure deployment in China, and how your differentiation in that technology is going to lend itself to perhaps more market share gains throughout the year? I think on the small signal side, we've got a great set of competitors there as well and we're doing the same thing, we're just continuing to focus on innovation, bringing more highly integrated modules to play, bringing ball filters, as an example, into our mix in the infrastructure side. Qorvo, Inc. (NASDAQ: QRVO) Q2 2021 earnings call dated Nov. 04, 2020Corporate Participants: Douglas DeLieto — Vice President, Investor Relations. The weighted average maturity of our outstanding debt is June of 2027. There's also dual connect scenarios where the phones have to work on 4G and 5G at the same time, which drives a lot of content around the antennas, both tuning and switching and filtering and so forth to pull all that off. It is a category that's -- it's really as I've just said in the previous answer becoming really critical for our customers and we -- it comes down to really the filter R&D and we've really hitting our stride now in terms of the team getting out the latest technologies and band coverage. In cellular infrastructure market, shipments of GaN high-power amplifiers and small signal components increased sequentially in support of sub-6 gigahertz 5G networks. Defense was a good foundation. We expect this business and our MEMS technology acquisition to contribute meaningfully to Qorvo over time. This is Jamison Phillips calling in for Ambrish. But we didn't see any pull-ins or anything like that as a result of any of this. Probably the best way to think about GaN adoption today is one very, very broad based really across all of the customer base, all the OEMs are evaluating GaN or implementing GaN in some in some version or the other. We believe we differentiate in a broad set of areas. We said on our January 29 earnings call that we expected the impact of COVID-19 to extend beyond the March quarter and affect both supply and demand. In today's release and on today's call we provide both GAAP and non-GAAP financial results. James Klein — President of Infrastructure and Defense Products. We are engaged with multiple customers with our GaN amplifiers, and we are well-positioned to benefit from this multiyear technology upgrade cycle. So I think we've just got a great portfolios, great technologies and the markets of aligned fairly well for us. But based on your capex commentary and the intention to be disciplined there, given that you did have multiple acquisitions in the year, I would think capex stays kind of around 5% of revenue, M&A, maybe less aggressive, and that would leave room for buybacks. In Mobile Products, we are benefiting from the need for more and better RF fueled by higher front-end integration and increased complexity. Just going back to the great traction in GaN I wonder if you could describe kind of the market toward GaN adoption in China as well as outside of China? Good day, and welcome to the Qorvo Inc. first-quarter 2020 conference call. Currently, as we look to September quarter, we see top-line growth, probably high single-digits percent or maybe a bit more. We have ample liquidity and low leverage. We expect gross margin to be up, but modestly in part because utilization is weighing on us more than we had planned it would. We're engaged with every Android customer with this portfolio. The shape of the 5G, you kept your number and Qualcomm kept their number. So I guess, we don't generally break it down by quarter necessarily. Not much really to add, Bill. We are pleased to add Qorvo's scale to both of these well established, high-performing teams to build on their successes and accelerate their growth. We continue to invest ahead of customer and market needs, while sustaining responsible capital return. So we think if there's any sort of silver lining, which it really isn't much of a silver lining, but the good news for our industry, at least, is that phones that don't sell in the first half will come back as more 5G content in the second half, more than likely. And you touched upon WiFi 6, the adoption there and it's getting certified. So we're very well placed to help them there. Couple of questions. In the June quarter Infrastructure revenue was a record and we secured record design wins in support of ongoing 5G base station deployments. In summary, we're pleased with our financial and operating performance in the June quarter and we are confident in our outlook for September. Qorvo (QRVO) Q4 2020 Earnings Call Transcript QRVO earnings call for the period ending March 31, 2020. It depends on how well the markets hold up of course and our ability to absorb costs of our factories and spend there. We provide this supplemental information to enable investors to perform additional comparisons of operating results and to analyze financial performance without the impact of certain noncash expenses or other items that may obscure trends in our underlying performance. So I do think that this trend will continue. It's material, as you know, it ended up being less as we ended the quarter and reported it than it was in our guide. Qorvo's programmable ICs reduced solution size and cost, improved system reliability and shortened system development time. We're also expecting, as we get into next year, the deployments to start to pick up in the U.S. We'll go next to Timothy Arcuri with UBS. And for the first time I think last year we saw massive MIMO antenna elements actually become a larger amount of the transceivers then macro and the vast majority of those are using GaN today. And then from that point, the mobile handset becomes the infrastructure and then ties you into your smart home and your automobile and a host of other applications. Thank you. Mark Murphy — Chief Financial Officer. And then finally, we had very good test yield. We had two 10% customers, and they can change. There's been a lot of talk about potential delays. Our full-year free cash flow for fiscal '20 was over $780 million and approximately 24% of sales. And that's what you've seen us do over the past year with over $1 billion worth of acquisitions. ET Contents: Prepared. And year over year, you guys will be amazed that the growth that this company has put up less Huawei. Qorvo® to Webcast Quarterly Earnings Conference Call on November 4, 2020 GREENSBORO, N.C., Oct. 21, 2020 (GLOBE NEWSWIRE) -- Qorvo ® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, will host a conference call to review fiscal 2021 second quarter financial results on Wednesday, November 4, 2020, at 5:00 p.m. (ET). Call Participants See all our earnings call transcripts. Yeah. Steven Creviston — President of Mobile Products In fact, it's rapidly mixing. This is Eric, again. Please go ahead, sir. Today's conference is being recorded. Our focus right now is just making sure that we've got best-in-class technology and we continue to innovate and drive technology-improved performance with our GaN and then really focused on scale and driving up our manufacturing capabilities, getting our yields up and I think we proved that in this and again next quarter that we were able to go through a pretty aggressive ramp on these sub-5 gigahertz deployments, sub-6 gigahertz deployments. Our current quarter revenue outlook reflects the additional week, strong sequential growth in mobile and over 50% year-over-year growth in IDP. That includes programmable power management and the others. Thanks for that. So this is a, we think a long-term trend for us over the next four, five years as the as the networks get deployed everywhere in the world. On our business, specifically, we're operating well. And on the mobile side as well, yes, we're seeing good traction. It looks like you just missed that mark. As the March quarter results and our June outlook could show, Qorvo is operating well through a challenging period while helping customers grow in 5G, WiFi, IoT and defense and other critical markets. They're serving not only China domestic, but they're also exporting more and more. So I would say that certainly where we've centered our focus today and really because that's where we've seen the biggest part of the market. Thank you. Edward Snyder -- Charter Equity Research -- Analyst. As we said, as Gary asked at the beginning, we're over $870 million for the second quarter. So that's important. We've said that we would be moving down toward 5% to 7% of sales. Qorvo Inc Q2 2020 Earnings Call Transcript. QRVO earnings call for the period ending September 29, 2018. Edited earnings call transcripts of Qorvo, Inc. (QRVO) stock Are you expecting this to go beyond Huawei? and you see that in our results. And as we go to second half, I'm guessing, there's still some flagships that will be launched. Demand for Qorvo's products has been robust, driven by the ramp of massive MIMO antennas. Qorvo enjoys broad exposure to cellular IoT, ranging from our discrete portfolio of RF solutions to our highly integrated modules through our partnership with Nordic Semi for high-volume CAT-M and narrowband IoT applications. I thought I heard you say 250 million. So we've got a lot we can do to help them across our portfolio. Looking broadly at the March quarter, our performance reflects an exceptional effort by the entire Qorvo team. At multiple Android smartphone manufacturers, we captured the complete main path, including low band mid-high band and ultra-high band modules for upcoming 5G smartphone launches. I mean the percentage of 5G phones now is obviously going to be a lot greater, there's a lot more dollar content that Eric's talked about $5 to $7, whether it's mid-tier or high tier. Qorvo began our fiscal year with an exceptional first quarter. So I would say competition has been been fairly stable and we're just focused on being able to bring innovative new products to the market ramp them quickly. But it really comes down absolute state of the art in BAW filter process technology. Beyond June, it's tougher to see. Non-GAAP gross margin in the June quarter was 48.6%, which was 110 basis points over our guidance due to lower than expected manufacturing costs and favorable mix effects. So we still feel very good about our number of 250 million units this calendar year for 5G and obviously significant growth as we look into the next year. And I've got to certainly, complement Paul Fego and his team for just a tremendous job, doing all the things around, cycle time improvement and the wafer expansions and we shut down a facility and seamlessly and die shrinks, I can go on and on. We will start to see that come down a bit in Q3 as we finish calendar year '20 deployments and then we expect that to ramp back up as we move into our physical Q4 to support the calendar year '21 deployments. Took us a bit longer than we thought, but we were confident we were going to get there. You put them down, you don't have any sort of issues with interference. You're down a little bit in June, but your December to March gross margin stayed relatively flat within 30 basis points, but there's a material decline here in June. We are continuously monitoring the demand and supply effects of COVID-19 and are sizing our inventories and cost structure accordingly. ... All earnings call transcripts. So it's a little challenging to model. Qorvo, Inc. (QRVO) CEO Robert Bruggeworth on Q2 2021 Results - Earnings Call Transcript Nov. 04, 2020 11:12 PM ET Qorvo, Inc. (QRVO) 1 Comment 1 Like SA Transcripts Blayne, on China, we typically don't break that out. ET Contents: Prepared Remarks Questions and Answers Call… As your browser does not support javascript you won't be able to use all the features of the website. Just kind of curious, two things. While our factories and engineering labs remained open, we successfully transitioned thousands of employees to work from their homes. During the June quarter, we raised over $300 million through an add-on to our 2029 unsecured notes augmenting the liquidity and further extending the weighted average maturity of our outstanding debt to October of 2027. In mobile, demand for 5G is adding more complex parts and driving higher content and we forecast revenue in the current quarter to be approximately $640 million. IDP revenue improved sequentially in the March quarter to $232 million on infrastructure and WiFi growth. I'm just kind of curious how if you look at March and what you're expecting in June, how the shape of that deployment looks versus three months ago? Thanks for taking my question. And we're seeing the transition now down into the middle tiers of the handset portfolio. The same can be said for our recent acquisitions. Image source: The Motley Fool. So it's very strong given the environment. I think we've got great performing technology that we've had in place for the better part of 20 years. Sure. So I'm just wondering, is that the beginning of inventory digestion? That's very helpful. GaN's a great example there. The company earned $1.06 billion during the quarter, compared to analysts' expectations of $1.01 billion. Qorvo, Inc. (QRVO) CEO Robert Bruggeworth on Q2 2021 Results - Earnings Call Transcript SA Transcripts Nov. 04, 2020 11:12 PM ET Skyworks Solutions, Inc. … But assuming the market does come in sort of consistent with that outlook, do you think, given the strength in 5G, the relative resilience of 5G and given some of the socket wins that you guys are aware of, you think you can grow the mobile segment in calendar 2020 in that sort of backdrop? Gross margin was 49.6%, up sequentially and year over year. But I think you can attribute that to, in part, the discipline and consistency of the team in enforcing capital discipline. So I think you just said that they'd be like less than 5% for June. Ambrish Srivastava -- BMO Capital Markets -- Analyst. It's been over a year now, since we added our programmable power management business and the team is doing a great job of driving growth across diversified markets. Logo of jester cap with thought bubble. Our free cash flow generation underpins a strong credit profile. Today's conference is being recorded. Got it. So definitely, the opportunity is out there. But Decawave came to us with a strong pipeline to begin with across many other applications such as automotive and IoT. So that gives us confidence that we're running the operation lean, we have a little bit of flexibility, but there is a healthy tension in our business between trying to keep costs down. Craig M Hettenbach -- Morgan Stanley -- Analyst. In the June quarter, we expect continued robust mobile 5G growth, though on lower base handset volumes and a return to year-over-year growth for IDP. In IDP we project the business to be approximately $300 million in the current quarter, reflecting the timing of base station deployments. And we'll go next to Toshiya Hari with Goldman Sachs. So as a result, we're able to provide what we believe is a solid guide for June. On ultrawide band we see a wide array of applications emerging with this wireless technology and have significant customer engagement on the design of new products and solutions. ET. Motley Fool Transcribing, The Motley Fool. They're all tracking in line with expectations. We commenced shipments of our integrated ultra-low power multi protocol Zigbee, BLE and Thread IoT solutions supporting one of the largest providers of smart home infrastructure solutions. 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