The Company now expects third quarter net sales of $28 to $29 million, reflecting 17% to 21% sequential growth in net sales. The loss per share is expected to be $0.20 to $0.21, an anticipated sequential improvement of $0.06 to $0.07 or 22% to 25%. These results exceed previously issued Company guidance which anticipated an improvement of approximately 10% in both net sales and loss per share compared with the second quarter of 2005.
The Company also noted that the Strategic Planning Committee of the Company's Board of Directors continues to evaluate strategic initiatives as previously communicated.
The Company expects to report its third quarter 2005 financial results on Monday, October 24, 2005.
ANADIGICS, Inc. (NASDAQ: ANAD) designs and manufactures radio frequency integrated circuit (RFIC) solutions for growing broadband and wireless communications markets. The Company's innovative high frequency RFICs enable manufacturers of communications equipment to enhance overall system performance, and reduce manufacturing cost and time to market. By utilizing state-of-the-art manufacturing processes for its RFICs, ANADIGICS achieves the high-volume and cost-effective products required by leading companies in its targeted high-growth communications markets. ANADIGICS was the first GaAs IC manufacturer to receive ISO 9001 certification and is certified to the ISO 9001:2000 and ISO 14001:1996 quality standards.
Except for historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, order rescheduling or cancellation, changes in customers' forecasts of product demand, timely product and process development and protection of the associated intellectual property rights, individual product pricing pressure, variation in production yield, changes in estimated product lives, difficulties in obtaining components and assembly and test services needed for production of integrated circuits, change in economic conditions of the various markets the Company serves, as well as the other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, including the report on Form 10-K for the year ended December 31, 2004. Actual results could differ materially from the Company's forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as "believe," "anticipate," "expect," or words of similar import. Similarly, statements that describe the Company's future plans, objectives, estimates, or goals are forward-looking statements. Important factors that could cause actual results and developments to be materially different from those expressed or implied by such statements include those factors discussed herein.
Web site: http://www.anadigics.com/