RF Micro Devices buys back $10 million of 1%, 0.75% convertibles

By Angela McDaniels

Tacoma, Wash., Aug. 6 - RF Micro Devices, Inc. said it repurchased $7.8 million principal amount of its 1% convertible subordinated notes due 2014 and $2.2 million principal amount of its 0.75% convertible subordinated notes due 2012 during the first fiscal quarter of 2010, which ended June 27.

The company paid an average price of 61.55 for the 1% convertibles and 78.56 for the 0.75% convertibles, according to its 10-Q report for the quarter filed with the Securities and Exchange Commission on Thursday.

The repurchase of the 1% convertibles and 0.75% convertibles resulted in net gains of approximately $1.6 million and $300,000, respectively.

RF Micro Devices is a Greensboro, N.C.-based maker of radio frequency components.

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