Sirenza makes a return to profitability
Sirenza Microdevices, a designer and supplier of RF devices based in Broomfield, CO, has reported first-quarter revenue of $13.8 million.
The figure compares with sales of $13.3 million for the prior quarter, and $5.8 million for the first quarter of 2003.
The improved sales translated to a net income of $162,000. This included charges of $501,000, which were mainly associated with the Vari-L acquisition and company consolidation.
In the equivalent period last year, Sirenza had recorded a loss of almost $1.3 million.
As of March 31, 2004, Sirenza had cash and cash equivalent assets of $7.8 million.
Outlining the reasons for the improved financial picture, president and CEO Robert Van Buskirk said: “Order demand has strengthened in our end-markets and we continue to see signs of better balance between buyer and seller regarding price and delivery throughout our global customer base.”
