Financial news from Veeco, Anadigics and Aeronex
Overall the net loss was $1.6 million. Sales by market consisted of 39% data storage, 14% telecommunications/wireless, 12% semiconductor and 35% research.
Veeco s sales for the first half of 2002 were $157.5 million, a 34% decrease from the $237.5 million reported for the first half of 2001. Metrology sales were $75.7 million in the first half of 2002 compared to $83.9 million in the first half of 2001. Veeco s process equipment sales were $81.8 million in the first half of 2002 compared with $153.6 million in the first half of last year. The company s first half book-to-bill ratio was 0.94.
Veeco’s guidance for the current quarter is for sales of $75 million-$80 million.
Anadigics turns in strong quarter
Anadigics cut its losses in the second quarter ending June 30, reporting a net loss of $8.99 million, compared with a net loss in the year ago quarter of $14.5 million. Revenue in the quarter rose to $23 million, up from $18.9 million last year and up from $19.5 million in the first quarter. Anadigics says the improvement was mainly driven by strong demand for CDMA wireless products from existing customers such as LG Electronics of Korea and Japan’s Kyocera, and the ramp of an additional tier one CDMA customer.
Wireless product line revenue was $13.1 million, up 45% sequentially and 121% year-on-year. Anadigics said broadband revenue was on track at $9.9 million, consistent with industry trends in the cable set-top box and infrastructure markets.
Anadigics estimates that total revenue for the third quarter ending September 30 will be lower at around $21 million. The company says this is the result of lower demand for some of the older TDMA technologies that it is now phasing out. Anadigics shares closed over 16% higher on July 29.
"We re ahead of target in terms of market share gains, and now expect to garner over 20% share of CDMA handsets by the fourth quarter of this year,” said Dr. Bami Bastani, president and CEO. “Our best-of-breed RF front-end module strategy is being extremely well-received by a multitude of wireless customers around the globe, for not only CDMA handsets, but also GPRS/EDGE/UMTS."
Aeronex sees strong revenue growth
Aeronex, an manufacturer of gas purification systems based in San Diego, CA, has reported strong growth in demand for its products despite the difficult market conditions that continue to dog the semiconductor industry.
During the first six months of 2002, the company says it saw a 42% increase in sales compared to the same period last year. The growth was led by sales of its Infinity GPS products that remove contaminants from process gases used in the semiconductor industry. So far this year Aeronex has added three new models to the Infinity series and also shipped its 100th Infinity GPS system.
