This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ANADIGICS' CEO Discusses Q2 2011 Results - Earnings Call Transcript

Stocks in this article: ANAD

This morning, we reported revenue for the second quarter of $35.6 million, which was sequentially down 18.1% but was in line with our previous range of guidance. As expected, wireless revenue declined sequentially by $10.6 million with the majority of this decline with RIM. Partially offsetting wireless in the quarter was an expected sequential increase in broadband revenue of $2.7 million attributing to strong shipments in cable infrastructure.

In regards to our third quarter outlook, I mentioned in our last earnings call that we – our hope was for revenue in the second quarter to be the trough in revenue for the company, but that I couldn’t be certain. Unfortunately, that uncertainty still exists with us today. The shift in our wireless customer mix, particularly to Korea and China, has led to very short order lead times.

Additionally, there is greater use of customers of hub arrangements – that’s consigned inventory are making it even more difficult to accurately forecast revenues. In light of these factors, although we continue to target our revenue plans on the basis of the second quarter being the revenue trough, we’ve decided to suspend our quarterly financial guidance. But let me repeat, we continue to target our revenue plans on the basis of the second quarter being the revenue trough.

As mentioned last quarter, achieving a competitive cost structure and aligning our expenses to the current revenue level are extremely important and we’ve made significant progress in this regard during the quarter and Tom will address these areas in more detail. I will focus my comments on the progress that we’ve achieved related to customers, reference design partnerships, new product development, as well as process development.

So let me begin with my top priority which is customers. During this last quarter I spent a great deal of time with all of our top customers and I would like to share some of the key takeaways as well as our company’s progress in each.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs