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October 26, 2011 8:30 a.m. ET
Thomas Shields – COO and CFO
Ronald Michels – CEO
Quinn Bolton – Needham & Co. LLC
Edward Snyder – Charter Equity Research
Dale Pfau – Cantor Fitzgerald Securities
Anthony Staff – Craig Hallum
Todd Koffman – Raymond James & Associates
Aalok Shah – D. A. Davidson & Co
Harsh Kumar – Morgan Keegan & Co., Inc.
Good morning. My name is Nashanta, and I will be your conference operator today. At this time, I would like to welcome everyone to the ANADIGICS Third Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. (Operator Instructions)
Thank you. Mr. Tom Shields, you may begin.
Thank you, operator. Good morning, everyone, and welcome to the ANADIGICS’ third quarter 2011 earnings conference call.
Before we get started, please remember, any comments made in this call by management, as part of prepared remarks or in response to your questions, may contain forward-looking information. Such information is subject to risks and uncertainties as described in this morning’s press release and in the company’s various filings with the SEC.
I would now like to turn the call over to Ron Michels, for his opening remarks.
Thank you, Tom. Good morning, everyone and thank you for joining us. I’m very pleased to report that our third quarter revenue was up 5% sequentially, which is led by a 9% increase in our wireless product line. This improvement was directly attributable to further quarterly increases in market share with a number of our key wireless customers, which offset the previously expected quarterly declines with RIM. Broadband declined 6% sequentially primarily due to lower demand in WiMAX.