Anadigics managers expect turnaround in fortunes
Senior managers at GaAs RFIC manufacturer Anadigics are looking forward to improved business in 2006 after witnessing strong growth in the latest financial quarter.
Sales at the Warren, NJ, company soared 49% year on year to reach $33.3 million for the three months ended on December 31.
That date also marked the end of Anadigics full fiscal year, winding up with revenue of $108.3 million, a more modest increase of 18% on 2004.
But the best is yet to come, reckons CEO Bami Bastani: "I believe [this latest quarter] represents an inflection point in our business," he said. "I expect our market share expansion in wireless handsets, coupled with the strong position in wireless LAN, tuner IC, and CATV infrastructure markets, to enhance our market leadership and results in 2006."
The current quarter is looking particularly good, with the company expecting to record an annual sales increase of as much as 60%.
CFO Tom Shields says that the company s 6-inch GaAs fab is becoming increasingly utilized, helping to push up the company s profit margin.
That will be welcomed, since Anadigics recorded a net loss of $3.9 million for the December quarter and $31.2 million for the full year.