WASHINGTON (dpa-AFX) - Semiconductor company Anadigics, Inc. (ANAD) Wednesday reported fourth-quarter net loss of $15.6 million or $0.23 per share, compared to net income of $3.4 million or $0.05 per share.
Excluding items, adjusted net loss was $9.5 million or $0.14 per share, compared to adjusted net income of $4.9 million or $0.07 per share last year.
On average, 7 analysts polled by Thomson Reuters expected the company to report loss of $0.12 per share for the quarter.
Net sales for the quarter declined to $36.5 million from $60.2 million last year. Analysts expected revenues of $37.64 million for the quarter.
Ron Michels, CEO of the company, said, '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.'
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