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Dwindling WiMAX demand causes Anadigics’ revenues to crash 39%

The provider of gallium arsenide based products in the broadband communications market did however see a sequential increase of 4.7% driven by increased sales to key wireless OEMs.

Anadigics has reported third quarter 2011 net sales of $37.3 million. 

This represents a sequential increase of 4.7% and a decrease of 39.2% from the third quarter of 2010.  For the first nine months ended October 1, 2011, net sales were $116.3 million, a decrease of 25.7% over the prior year. GAAP net loss for the third quarter of 2011 was $10.0 million, or ($0.15) per share.

 



As of October 1, 2011, cash, cash equivalents and short and long-term marketable securities totalled $100.6 million compared with $103.4 million at July 2, 2011.

Ron Michels, President and Chief Executive Officer commented, “Our revenue increased 4.7% sequentially driven by increased sales at key wireless OEMs, and we continued to make notable progress with the largest reference design partner on next generation product development. Additionally, we are expanding our served available market with new product introductions, including PADs, MMPAs and dual band PAs, which will be the driving force behind our future growth. I remain confident in our current strategy and I want to emphasise our commitment to re-establishing Anadigics as a technology leader in our industry.”
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