Anadigics' March quarter better than expected
Anadigics said the quarter reflected increased demand for both wireless and broadband products. Wireless product line revenues were $9.0 million, on track with mid-March expectations and up $1.0 million from January guidance, reflecting stronger demand for the company?s CDMA products. Broadband revenues were $10.5 million, up 48% sequentially, reflecting higher shipments of RFIC products for infrastructure and subscriber applications.
Looking ahead, the company said it is 90% booked to meet its second quarter revenue target of $21 million, and losses per share are expected to narrow to 31 cents, in line with current analyst views.
"CDMA 1xRTT service is beginning to capture more of the wireless network, as evidenced by recent announcements from major carriers, and Anadigics is supplying the RF transmit engine to the leading supplier of 1xRTT capable handsets," said Bami Bastani, president and CEO. "Advanced 2.5G handsets favor our leading InGaP HBT technology. We are on track to add new customers and gain share in this exciting market as 2002 unfolds and 1xRTT rollouts continue."
The company recorded special charges totaling $6.5 million in the quarter relating to the consolidation of certain facilities and the restructuring of its fiber product line. Including these special charges and amortization of intangibles, the net loss for the quarter was $0.59 per share.
Tim Blanke, Anadigics press relations
Tel: +1 908 668 5000
E-mail: tblanke@anadigics.com
Web site: http://www.anadigics.com
