RF Micro Devices Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 28, 2013. For the quarter, revenue was $288.5 million against $271.2 million last year. Income from operations was $15.4 million against $5.7 million last year. Income before income taxes was $14.4 million against $4.5 million last year. Net income was $6.2 million or $0.02 per diluted share against net loss of $1.4 million or $0.01 per diluted share last year. Non-GAAP operating income was $40 million against $26.8 million last year. Non-GAAP net income was $36.4 million or $0.13 per diluted share against $21.3 million or $0.08 per diluted share last year. Net cash provided by operating activities was $70.4 million. Purchases of property and equipment were $15.6 million. The year-over-year increase in revenue was primarily attributable to dollar content increases in smartphones.

For the nine months, revenue was $892.2 million against $683.5 million last year. Income from operations was $28.1 million against loss from operations of $17.3 million last year. Income before income taxes was $25.0 million against loss before income taxes of $25 million last year. Net income was $13.7 million or $0.05 per diluted share against net loss of $37.0 million or $0.13 per diluted share last year.

For the fourth quarter ending March 2014, the company expects revenue of approximately $250 million to $260 million, non-GAAP gross margin of approximately 40%, non-GAAP tax rate of approximately 10% - 15% and non-GAAP EPS of approximately $0.09 - $0.10. The company anticipates another quarter of margin expansion in year-over-year improvements in operating income and earnings per share.

The company anticipates double-digit revenue growth for fiscal 2015 with 40% gross margin, expanding operating margin and significant EPS growth. Tax rate will probably be in the 15% range, plus or minus.