Celeritek forecasts flat September quarter
The company reported a net loss of $1.3 million or $0.10 per share for the June 2002 quarter, compared with a net loss of $5.1 million or $0.43 per share for the June 2001 quarter.
Celeritek currently expects revenue in the $15.0 million to $16.0 million range for the September 2002 quarter with gross margins of approximately 25% to 27% resulting in a net loss of approximately $0.08 to $0.10 per share. The company is currently considering an acquisition offer from Anaren Microwave.
Semiconductor sales were $9.3 million in the June 2002 quarter, compared to $6.7 million in the March 2002 quarter and $8.1 million in the June 2001 quarter. Subsystem sales in the June 2002 quarter were $6.0 million, compared to $6.5 million in the March 2002 quarter and $5.9 million in the June 2001 quarter.
"During the first quarter we shipped a record number of power amplifier modules," commented Tamer Husseini, president and CEO. "Current forecasts for modules for the September quarter are up from the June quarter."
"We are pleased with the progress we have made with several major Korean suppliers. We completed an extensive qualification process this quarter with a major handset supplier and were added to their approved vendor list. We have received a number of production orders for both cellular and Korean PCS platforms and are excited about our expanding opportunities in Korea," said Husseini.
"We continue to invest in other growth opportunities such as the wireless LAN area, and have been sampling a low cost, high power amplifier solution for 802.11 products that is meeting with good customer interest. We have recently released a 1 Watt Ku Band surface mount amplifier for satellite communications that will give our customers a significant cost advantage," Husseini added.
