Financial news from Anadigics and Trikon
Anadigics’ sales rose sequentially by $1.9 million to $18 million for the second quarter ending June 30, but were down by 22% on the year-ago quarter. Its overall loss, including a charge of $1.7 million relating to the purchased in-process research and development resulting from the acquisition of the WLAN power amplifier business from RF Solutions, was $13.8 million.
Wireless revenues were $9.0 million, up 4.9% from the first quarter’s revenues of $8.6 million. CDMA revenues accounted for greater than 90% of wireless revenues. Broadband revenues were $9.0 million, up 20% from first quarter revenues of $7.5 million. The revenue increase was attributed to the shipments of WLAN power amplifiers and increased revenue growth in cable infrastructure products.
Trikon sees its highest orders since 2000
Trikon is experiencing an upturn in orders for its etchers and deposition equipment. The company’s revenues for the quarter ending June 30, were $6.0 million, an increase of 18% sequentially, but a decrease of 29% on $8.5 million for the year-ago quarter. Revenues for the six months ended June 30 were $11.1 million, a decrease of 33% on the same period in 2002.
"Trikon is reporting the highest quarterly orders, $11.4 million, since the fourth quarter of 2000, creating a quarterly net book to bill ratio of 1.9:1," said Jihad Kiwan, president and CEO.
Operating loss was $8.5 million compared to $4.4 million for the second quarter of 2002. For the six months ended June 30, the operating loss was $15.6 million compared to $9.4 million in the same period of 2002.
"This quarter s results contain significant non recurring charges that add about 25 cents per share to the loss for the quarter," said Bill Chappell, CFO. "While the effect of these charges were partially offset by a gain on foreign currency of 3 cents per share, these items mask what would otherwise have been an improved performance on the first quarter, both in terms of revenues and margins."
