Financials: AXT and Hittite Microwave
Substrates and materials manufacturer AXT has posted sales of $7.7 million for the fourth fiscal quarter of 2005, up $1.5 million sequentially and up $0.1 million year-on-year. Loss for the quarter was $2.7 million.
Raw material revenue contributed $1.7 million, $1.1 million more than the previous quarter, due to delayed shipments in the prior quarter and new customer sales.
"Over the next several quarters we will continue our strong focus on sales penetration and improvements in manufacturing costs and efficiencies," said company CEO Phil Yin.
"The strength of our team, the performance of our products, and the innovation that has characterized AXT will position us for renewed growth and excellence in 2006," he added.
AXT expects first fiscal quarter 2006 revenue to show normal seasonality and to be between $7.1 million and $7.7 million, with loss in the $2.6 million to $2.9 million range.
Hittite's gross margin hits 70%Fabless RFIC designer Hittite Microwave has recorded revenue of $22.7 million for the fourth fiscal quarter of 2005, an improvement of 7% sequentially and up 34% year-on-year.
Gross margin and profit for the recent quarter were 70% and $7.1 million.
"The fourth quarter was a strong finish to the year. We introduced 23 new products during the quarter, for a total of 80 in 2005," said Hittite CEO Stephen Daly.
"Going forward, our expanding product lines and sales channels will be major factors in driving our revenue growth."
Hittite had an order backlog of $36.9 million on December 31, 2005. Company bosses expect sales for the current fiscal quarter to be $24 million to $25 million, and profit to be in the range $6.1 million to $6.5 million.
