ANAD ($21-$18-$19) P/E 70..4 Cent Wider Loss,Net Sales dropped 60%,Reduces Revenue and Earnings Guidance for 3rd Quarter.
Anadigics posts Q2 loss, sees Q3 loss
July 23, 2001 08:07:00 AM ET
WARREN, N.J., July 23 (Reuters) - Anadigics Inc. (ANAD), which makes radio frequency chips used for wireless communications, on Monday reported a second-quarter loss and said it sees a third-quarter loss, due in part to continued softness in the broadband market.
The company reported a loss of $14.5 million, or 48 cents per share, excluding special charges and acquisition-related costs. Analysts' estimates ranged from a loss of 44 cents to a loss of 42 cents per share, with an average of 44 cents, according to Thomson Financial/First Call.
Including special charges, the net loss was $55.4 million, or $1.84 per share, compared with year-earlier earnings of $6.6 million, or 22 cents per share.
Second-quarter net sales fell 60 percent to $18.9 million from $47.5 million, Anadigics said.
For the third quarter, Anadigics said it expects revenues to fall to $15.5 million, with a per share loss of 55 cents, due to a change in production ramp schedules of certain wireless handset platforms, the timing of new design win opportunities and continued softness in the broadband markets. Third-quarter loss estimates range from 38 cents to 32 cents per share, with a mean of 36 cents. REUTERS |
