Higher fab utilization narrows Anadigics' loss
Despite improved revenue and increased fab utilization, RFIC manufacturer Anadigics saw only a marginal improvement on the bottom line in its latest financial quarter.
The Warren, NJ, company narrowed its net loss in the three months ended July 3, which included $1.2 million in charges, to $11.7 million. This compares with a net loss of $13.8 million this time last year and $12.8 million in the prior quarter (see related story).
The $1.2 million charges arose from a combination of staff layoffs, closure of a design facility and employee relocation.
At $22.7 million, revenue was up 7% sequentially and up 26% from $18 million year-on-year.
Broadband products accounted for $12.2 million of the revenue, while wireless products made up the remaining $10.5 million.
Anadigics says that its fastest-growing revenue stream is for wireless LAN (WLAN) products, which enjoyed sequential revenue growth of 80%, and almost trebled from the figure posted one year ago.
In contrast, Anadigics rivals RF Micro Devices, Skyworks and TriQuint all registered a profit in their latest financial quarters.
Anadigics latest balance sheet shows $19.3 million in cash and cash equivalents among total current assets of $92.2 million.