ANADIGICS Earnings Cheat Sheet: Swinging to a Loss but Better than Expected

ANADIGICS, Inc. (NASDAQ:ANAD) reported its results for the second 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 Second Quarter

Results: Swung to a loss of $13.1 million (19 cents per diluted share) in the quarter. The semiconductor company had net income of $791,000 or one cent per share in the year earlier quarter.

Revenue: Fell 31.1% to $35.6 million from the year earlier quarter.

Actual vs. Wall St. Expectations: ANAD reported an adjusted net loss of 14 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 20 cents per share. Analysts were expecting revenue of $35.7 million.

Quoting Management: “As previously anticipated, the sequential drop in net sales for the second quarter primarily reflects a decrease in shipments to one of our large North American customers, which was partially offset by the resurgence in shipments of our line amplifier products,” commented Ron Michels, President and Chief Executive Officer. “Looking forward, I am encouraged by the progress being made on new design opportunities with our other wireless customers, particularly in Korea and China. Additionally, we remain on track with our initiatives to expand revenue opportunities over the longer term with our new products for the wireless 3G/4G/LTE and broadband markets.”

Key Stats:

The company topped expectations last quarter after falling short of forecasts in the first quarter with a loss of 12 cents versus a mean estimate of a loss of 11 cents per share.

Revenue has fallen in the past two quarters. In the first quarter, revenue declined 0.2% to $43.5 million from the year earlier quarter.

The company’s cost of sales fell 14.2% from a year earlier to $29 million. Last quarter, cost of sales was 81.6% or revenue versus 65.5% a year earlier.

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).

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(Source: Xignite Financials)