ANADIGICS, Inc. Earnings Cheat Sheet: Swung to a Loss but Beat Estimates

ANADIGICS, Inc. (NASDAQ:ANAD) reported its results for the third quarter. Anadigics 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 Third Quarter

Results: Reported a loss of $10 million (15 cents per diluted share) in the quarter. ANADIGICS, Inc. had a net income of $2.3 million or 3 cents per share in the year earlier quarter.

Revenue: Fell 39.2% to $37.3 million from the year earlier quarter.

Actual vs. Wall St. Expectations: ANAD reported an adjusted net loss of 12 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 20 cents per share. It beat the average revenue estimate of $35.9 million.

Quoting Management: Ron Michels, President and Chief Executive Officer commented, “I remain confident in our current strategy and I want to emphasize our commitment to re-establishing ANADIGICS as a technology leader in our industry.”

Key Stats:

Revenue has fallen for the past three quarters. In the second quarter, revenue declined 31.1% to $35.6 million while the figure fell 0.2% in the first quarter from the year earlier.

The company has now beaten estimates the last two quarters. In the second quarter, it topped expectations with a loss of 18 cents versus a mean estimate of a loss of 20 cents per share.

The company’s cost of sales fell 22.6% from a year earlier to $30.2 million. Last quarter, cost of sales was 81.1% or revenue versus 63.7% a year earlier.

Looking Forward: Analysts seem more negative about the company’s results for the next quarter than ninety days ago. The average estimate for the fourth quarter has moved from a loss of 18 cents a share to a loss of 19 cents over the last ninety days. For the fiscal year, the average estimate has moved from a loss of 69 cents a share to a loss of 67 cents over the last ninety days.

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).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)

 

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