ANADIGICS Earnings Cheat Sheet: Shares Crushed 10% As Loss Widens

ANADIGICS, Inc. (NASDAQ:ANAD) reported its results for the first quarter. The company is a provider of semiconductor solutions in the growing broadband wireless and wireline communications markets.

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ANADIGICS Earnings Cheat Sheet for the First Quarter

Results: Loss widened to $10.7 million (16 cents/diluted share) from $5.2 million (loss of 8 cents per share).

Revenue: Fell 0.2% to $43.5 million YoY.

Actual vs. Wall St. Expectations: ANAD reported an adjusted net loss of of 7 cents/share. By that measure, the company fell in line with the mean analyst estimate of a loss of 7 cents/share. Estimates ranged from a loss of 6 cents per share to a loss of 8 cents per share.

Quoting Management: “The decrease in net sales at our largest customer is the result of programs reaching end of life and a loss in market share related to the customer’s change in chipset vendors that do not utilize our power amplifiers,” commented Ron Michels, President and Chief Executive Officer. “We remain actively engaged with this large customer and its chipset vendors on next generation platforms. Additionally, we are proactively taking steps to align our cost base with revenues over the short-term, while prudently allocating resources to further expand our technology base and product offerings going forward. New product development will be a critical area of focus as we increase the breadth of our product portfolio and enhance our commitment to innovation and technology leadership. In fact, we are already heavily engaged with all of our customers and are actively pursuing several new opportunities across both Wireless and Broadband.”

Key Stats: A year-over-year revenue decrease last quarter snaps a streak of four consecutive quarters of revenue increases. The best quarter in that span was the third quarter of the last fiscal year, which saw revenue rise 66.9%.

ANAD’s loss in the latest quarter follows profits in the previous three quarters. The company reported a profit of $3.4 million in the fourth quarter of the last fiscal year, a profit of $2.3 million in the third quarter of the last fiscal year and $791,000 in the second of the last fiscal year.

Competitors to Watch: TriQuint Semiconductor (NASDAQ:TQNT), RF Micro Devices, Inc. (NASDAQ:RFMD), Skyworks Solutions, Inc. (NASDAQ:SWKS), ParkerVision, Inc. (NASDAQ:PRKR), Hittite Microwave Corp. (NASDAQ:HITT), Zoran Corporation (NASDAQ:ZRAN), Analog Devices, Inc. (NYSE:ADI), Maxim Integrated Products Inc. (NASDAQ:MXIM), Intersil Corporation (NASDAQ:ISIL), and Intel Corporation (NASDAQ:INTC)

Stock Performance: Shares of ANAD are down to $3.35 per share, or a decline of 10%, in trading today:


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