Sprint Nextel Corporation’s (NYSE:S) third quarter loss narrowed, beating estimates. Loss narrowed to $301 million (loss of 10 cents per diluted share) from $911 million (loss of 30 cents per share) in the same quarter a year earlier. Revenue rose 2.2% to $8.33 billion from the year earlier quarter. S beat the mean analyst estimate of a loss of 22 cents per share. Analysts were expecting revenue of $8.38 billion.
“Sprint’s focus on creating the best customer experience with simple, unlimited plans and innovative products and services continues to strengthen our brand and drive positive results,” said Dan Hesse, Sprint CEO. “We are adding to our customer base, our ARPU is increasing, and as a result our wireless revenues are growing.”
Competitors to Watch: AT&T Inc. (NYSE:T), Verizon Communications Inc. (NYSE:VZ), Clearwire Corporation (NASDAQ:CLWR), Deutsche Telekom AG (DTEGY), MetroPCS Communications, Inc. (NYSE:PCS), Leap Wireless Intl., Inc. (NASDAQ:LEAP), NTELOS Holdings Corp. (NASDAQ:NTLS), United States Cellular Corp. (NYSE:USM), Telephone & Data Systems, Inc. (NYSE:TDS), and CenturyLink, Inc. (NYSE:CTL).
ANADIGICS, Inc. (NASDAQ:ANAD) reported its results for the third quarter. 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. 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.
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.”
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).