Financial Update: Skyworks And Anadigics
US-based RFIC manufacturer Skyworks Solutions posted $197.1 million in sales for the quarter that ended on June 30, a sequential increase of 6 per cent and a rise of around 3 per cent on the same period in 2005.
That translated to a net profit of $3.0 million, down from $7.4 million one year ago. However, the Woburn, MA, company was hit by a stock compensation charge of $3.7 million in the latest quarter, which dragged down the net profit figure.
Despite the solid quarter and the promise of volume ramps for Samsung and Sony Ericsson phones, Skyworks financial chief Allan Kline warned that the company would see a weakening demand in the current quarter.
Kline now expects sales for the final quarter of the fiscal year to come in at between $197 million and $200 million.
Meanwhile, Skyworks' rival Anadigics enjoyed a sales increase of 68 per cent on the year-ago quarter thanks to the strong market for high-end wireless components, including those based on its proprietary BiFET structures (see related story).
The Warren, NJ, GaAs chipmaker's second-quarter sales reached $40.2 million, resulting in a net loss of $2.8 million according to standard accounting procedures.
CEO Bami Bastani is predicting that the upwards momentum will continue, and expects to see the company deliver a sequential increase in sales of 7-9 per cent in the current quarter.
Although this is not forecast to result in a formal net profit, Anadigics could break even or perhaps post a slight profit, based on adjusted "pro forma" accounts.