TriQuint (Hillsboro, Ore.) posted third-quarter sales of $173 million, up 2 percent compared to the second quarter, but down 7 percent compared to the third quarter of 2008.

Third-quarter net income in accordance with generally accepted accounting principles (GAAP) was $10.5 million, or 7 cents per share, TriQuint said, up 169 percent compared to the second quarter but down 11 percent compared to the third quarter of 2008.

On a non-GAAP basis, excluding charges, TriQuint had a net income of $15.7 million, or 10 cents per share, up 37 percent sequentially, but down 8 percent year-to-year, TriQuint said.

Analysts, on average, had predicted TriQuint would post third-quarter revenue of $177.6 million and non-GAAP earnings per share of 10 cents, according to Yahoo Finance.

Gross margin for the third quarter was 33.8 percent, up from 32.3 percent in the second quarter, TriQuint said. On a non-GAAP basis, gross margin was 35 percent, up from 33.2 percent in the prior quarter, the company said. Gross margin increased due to improved factory utilization and the elimination of inefficiencies associated with high sequential revenue growth in the second quarter, according to the company.

For the fourth quarter, TriQuint said it expects revenue to be between $175 million and $185 million. The company said it expects GAAP earnings of 7 to 9 cents per share and non-GAAP earnings of 10 to 12 cents per share.

Consensus analyst expectations for the fourth quarter had pegged TriQuint revenue at $187.9 million, with non-GAAP earnings of 13 cents per share, according to Yahoo Finance.