Net Profit Seals Comeback Year For Anadigics
Anadigics, the GaAs RFIC manufcaturer based in New Jersey, has posted a net profit of $6 million in its fiscal 2007 results - the first time that it has recorded an annual net gain since 2000.
The full 2007 figures showed total sales of $230.6 million, an increase of nearly 40 per cent on 2006, and an operating income of $2.1 million.
That operating income was augmented by a significant interest gain, thanks to Anadigics improved cash position. Excluding other charges relating to discontinued operations and stock compensation, the firm s accounts looked even better, translating to a pro forma net profit of $23.1 million.
CEO Bami Bastani said that "momentum in 3G and wireless LAN/WiMAX continued to accelerate at a solid pace" in the final quarter of 2007, adding that the improving financial picture will continue into early 2008:
"We are expecting to buck seasonality in wireless in the first quarter [of 2008], while working to build further market share with our top-tier customers."
Bastani added that production capacity at the firm s Warren, NJ, wafer fab was being expanded to meet demand, while external foundries are being qualified as building work on its new wafer facility in China (see related story) continues.
For the first quarter of 2008, Anadigics expects sales to rise slightly to between $68 million and $70 million "“ unaffected by the usual downswing of the mobile handset industry seen at this time of the year.
However, additional expenses relating to the Warren fab capacity expansion and a temporary blip in demand from the cable TV infrastructure market are expected to restrict Anadigics to only a small net profit.
• Along with the other major GaAs manufacturers, Anadigics has launched a series of products at this week s Mobile World Congress in Barcelona, Spain. New RF components include a 3G power amplifier (PA) for use in Qualcomm chipsets, and a 2.3-2.4 GHz PA for WiMAX applications.
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