Anadigics sees further revenue fall next quarter
However, the company estimates that revenue in the final quarter of 2002 will be approximately $19 to $20 million, reflecting flat sales in Wireless and lower Broadband revenues. The EPS loss is estimated to improve to approximately 26-28 cents per share.
Wireless revenues for the quarter were $11.0 million, corresponding to a rise of 80% compared to the year-ago period, but down 16% sequentially. This was partially due to lower ASPs and declining TDMA revenue. CDMA revenue grew considerably compared to last year reflecting an expanded customer base and increased market share gain in CDMA.
Revenues in Broadband were $10.3 million, flat from last year and the prior quarter; however, cable set-top box and cable infrastructure IC sales increased $1.0 million over the prior year, and $0.7 million sequentially.
"Anadigics is successfully cultivating new customers and expanding existing relationships to achieve significant market share gains," remarked Bami Bastani, President and CEO of Anadigics. "Our recent successes include new handset design wins in China, Korea, and Taiwan. We are currently engaged in the design-in phase with more than 25 handset OEM/ODM customers, including tier one manufacturers, for over 50 wireless handset platforms. This success is due to the industry leading performance and reliability of our InGaP PA products. We anticipate these activities to contribute significantly to Wireless revenues in the mid-2003 time frame, as customers ramp to production volumes."
