Qorvo, Inc. QRVO reported fourth-quarter fiscal 2016 net loss of $24.2 million or a loss of 18 cents per share. In the year-ago quarter, the company had generated net income of $6.5 million or 4 cents per share. The striking deterioration was primarily due to lower revenues during the quarter.Non-GAAP earnings in the reported quarter were $142.6 million or $1.04 per share, down from $167.2 million or $1.11 per share in the year-ago quarter. Adjusted earnings (with stock-based compensation adjustments) of 85 cents per share beat the Zacks Consensus Estimate of 69 cents.For full fiscal 2016, reported net loss was $28.8 million or a loss of 20 cents per share, while reported net income was $196.3 million or $2.11 per share in fiscal 2015. The significant decline in fiscal earnings was primarily attributable to higher operating expenses.RevenuesNon-GAAP revenues for fourth-quarter fiscal 2016 declined to $607.1 million from $633.9 million in the year-ago quarter. Revenues beat the Zacks Consensus Estimate of $604 million. Fiscal fourth-quarter GAAP revenues decreased to $608.1 million from $634.9 million in the year-ago period. For fiscal 2016, revenues significantly grew to $2,610.7 million from $1,711 million in the prior year on increased demand for the company’s highly integrated solutions and growth in its Infrastructure and Defense Products (IDP) segment markets.MarginsFiscal fourth-quarter non-GAAP gross margin was 50% versus 50.4% in the year-ago quarter. Non-GAAP income from operations was $160.6 million versus $169.6 million in the prior-year quarter.GAAP gross margin came in at 41.8% versus 29.8% in the year-ago quarter. GAAP operating income was $8.5 million, while the prior-year quarter had seen operating loss of $102.5 million. Total cost and expenses were $599.6 million versus $737.4 million in the year-ago quarter.Balance Sheet & Cash FlowFor fiscal 2016, cash and cash equivalents were $425.9 million compared to $299.8 million in the prior year period. Long-term debts were $988.1 million as on April 2, 2016. During the fiscal fourth quarter, the company repurchased approximately 10 million shares.Net cash provided by operating activities came in at $160.5 million with free cash flow of $76.1 million at the end of the quarter.OutlookQorvo expects non-GAAP revenues in first-quarter fiscal 2017 to be approximately $650 million. The company expects gross margin of approximately 50% and earnings per share of approximately $1.05. Qorvo also projects net interest expense of approximately $15 million for the fiscal first quarter.Qorvo carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space include Parkervision Inc. PRKR, Towerstream Corporation TWER and Himax Technologies, Inc. HIMX. Each of these stocks carries a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PARKERVISION (PRKR): Free Stock Analysis Report TOWERSTREAM CP (TWER): Free Stock Analysis Report QORVO INC (QRVO): Free Stock Analysis Report HIMAX TECH-ADR (HIMX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research