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13 February 2007


Anadigics eliminates losses after seventh quarter of growth

Anadigics Inc of Warren, NJ, USA, which makes RFICs and front-end solutions for wireless handsets and broadband communications, has reported full-year 2006 sales of $169.9m, up 57% on 2005’s $108.3m. Net loss was cut from $31.2m to $8.9m. Pro forma loss was cut from $28.6m to just $0.5m.

For fourth-quarter 2006, sales were $49.1m (up 10% on the prior quarter and 48% on $33.3m a year ago) - its seventh consecutive quarter of growth. Net loss has been cut from $3.9m a year ago and $1.3m last quarter to just $0.1m. Pro forma income (excluding non-cash stock compensation expense) was $2.8m, compared to a loss of $3.3m a year ago.

Cash and short- and long-term marketable securities fell from $130.5m at the end of Q3/2006 to $83.5m, due to repayment of the firm’s $46.7m in convertible notes (which matured in November).

“The company is positioned to capitalize on the rapidly growing voice, data and video segments of the wireless and broadband communications markets, where we offer 3G/3.5G products that use the W-CDMA, the HSDPA, HSUPA and EDGE standards, 4G products for WiMAX and WiBRO systems, WiFi products that use the 802.11 a/b/g and 802.11 n (draft-n, MIMO) standards, CATV set-top box and infrastructure and FTTP products,” says Dr Bami Bastani, president and CEO.

Anadigics expects first-quarter 2007 sales to be unaffected by typical industry seasonality: equal to up 3% sequentially (up 38-42% year-on-year).