Wow,
No posts here for quite a while.
For their earnings release:
"Floyd English, chairman, said, "In spite of the general economic sluggishness in the U.S. and lower wireless infrastructure equipment spending in Europe, our continued success in growing new orders shows we are well diversified and benefiting from the strategies we've put in place. The third quarter was our ninth quarter in a row of year-over-year orders growth. But we are disappointed that we did not achieve the sales and profit growth we had expected at the beginning of the quarter, as our business was negatively impacted by delayed communications infrastructure equipment spending. Nonetheless, we achieved sequential growth in orders and sales, of 9% and 3% respectively, in the quarter.
The strength of our global presence and international diversification was evident as robust orders in Asia offset declines in the U.S., Europe and Latin America. Orders in Asia were up sharply in the quarter, particularly in China. China, the fastest growing wireless market, now with approximately 115 million wireless subscribers, is on the verge of surpassing the United States as the largest wireless market. We recently completed a major expansion of our Suzhou, China manufacturing facility. We are benefiting now from this investment and we expect to benefit in the future from this market's huge growth potential. "
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It looks like most of their growth was driven by China. Given that ANDW usually sees increased order flow in the later parts of the buildout, ie ... when the towers get wired, then ANDW should see 18 to 36 months of strength if the order patterns are similar to that of the US build out.
If they can get the US and Europe to stablize, they should see accelerating Q-Q growth going forward. |
