RFMD Provides Update on Share Repurchase Program
Share:
Outstanding Shares Are Reduced By Approximately 10 Percent
GREENSBORO, N.C. -- March 3, 2008--RF Micro Devices, Inc. (Nasdaq GS: RFMD), a global leader in the design and manufacture of high-performance radio systems and solutions, today provided preliminary results for its share repurchase program. As background, RFMD announced on January 31, 2008, that its Board of Directors had authorized the repurchase of up to $150 million of its outstanding common stock over the next 24 months.
As of the close of business on February 29, 2008, RFMD had repurchased approximately 30 million shares at an average price per share of $3.27. These repurchases reduce by approximately 10 percent the total number of outstanding shares of RFMD stock. As a result, the Company currently has approximately 262 million shares outstanding.
RFMD's existing share repurchase program authorizes RFMD to repurchase shares, from time to time, through solicited or unsolicited transactions in the open market or in privately negotiated transactions. The number of shares to be purchased and the timing of the purchases will be based on market conditions and other factors, and the program may be discontinued at any time.
About RFMD RF Micro Devices (Nasdaq GS: RFMD) is a global leader in the design and manufacture of high-performance radio frequency systems and solutions. RFMD's cellular front ends, cellular transceivers, RF components and system-on-chip (SoC) solutions enable worldwide mobility, provide enhanced connectivity and support advanced functionality in the cellular handset, cellular base station, wireless local area network (WLAN), CATV networking, aerospace, defense, and global positioning systems (GPS) markets. Recognized for its diverse portfolio of state-of-the-art semiconductor technologies and vast RF systems expertise, RFMD is a preferred supplier to the world's leading mobile device and RF equipment manufacturers.
Headquartered in Greensboro, N.C., RFMD is an ISO 9001- and ISO
14001- certified manufacturer with worldwide engineering, design, sales and service facilities. RFMD is traded on the NASDAQ Global Select Market under the symbol RFMD. For more information, please visit RFMD's website at www.rfmd.com.
CONTACT: RF Micro Devices, Inc.
Doug DeLieto
VP, Investor Relations
336-678-7968
or
Dean Priddy
CFO
336-678-7975
