ANADIGICS Inc. Earnings: Beat Expectations Although Swung to a Loss

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Despite reversing to a loss in the fourth quarter, ANADIGICS, Inc. (NASDAQ:ANAD) can hang its hat on beating Wall Street’s expectations. 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 Fourth Quarter

Results: Reported a loss of $15.6 million (23 cents per diluted share) in the quarter. The semiconductor company had net income of $3.4 million or 5 cents per share in the year-earlier quarter.

Revenue: Fell 39.4% to $36.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: ANADIGICS, Inc. reported adjusted net loss of 14 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 16 cents per share. It fell short of the average revenue estimate of $37.6 million.

Quoting Management: “While revenue declined slightly during the fourth quarter, our Wireless business grew sequentially for the second consecutive quarter and we continued to make notable progress on new product development,” commented Ron Michels, president and CEO. “We have received strong customer interest in our expanding portfolio of PADs, Multi-Mode-Multi-band PAs, and Penta-Band PA for 3G/4G applications, which provide industry-leading performance. Additionally, our new circuit architecture for dual-band PAs gives us a strong competitive advantage that will enable us to increase our 3G/4G market penetration. As we look beyond the seasonal first quarter, our new products serving an expanded addressable market will position us for growth in second half of 2012 and beyond.”

Key Stats:

Revenue has dropped for four quarters in a row. Revenue declined 39.2% to $37.3 million in the third quarter. The figure fell 31.1% in the second quarter from the year earlier and dropped 0.2% in the first quarter from the year-ago quarter.

The company has now beaten analyst estimates for three quarters in a row. It beat the mark by 5 cents in the third quarter and by 2 cents in the second quarter.

Looking Forward: The average estimate for the first quarter of the next fiscal year is steady at 18 cents a share. The average estimate hasn’t changed from 60 cents per share for the fiscal year.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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