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TheStreet Open House

Anaren's CEO Discusses F2Q 2012 Results - Earnings Call Transcript

Anaren Inc. ( ANEN)

F2Q2012 (Qtr End 12/31/2011) Earnings Call

January 26, 2012 8:30 am ET

Executives

Larry Sala - Chairman, President and CEO

George Blanton - CFO

Joe Porcello - VP of Accounting

Analysts

Matt Ramsey - Canaccord Genuity

Rich Valera - Needham & Company

Chris McDonald - Kennedy Capital

Presentation

Operator

Good day, ladies and gentlemen, and welcome to Anaren's second quarter earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.

I would now like to turn the conference over to Mr. Larry Sala.

Larry Sala

Thank you. Good morning and thank you for participating in the interim fiscal 2012 second quarter conference call. I'm joined again today by George Blanton, our CFO; and by Joe Porcello, our Vice President of Accounting.

I'll provide a brief overview of the results for the quarter, after which George will review the financial highlights, and we will then take your questions.

Certain statements made during this conference call will be forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially from those discussed. You're encouraged to review our SEC filings and exhibits to those reports to learn more about the various risks and uncertainties facing our business and their potential impact on our net sales, our earnings and our stock price.

Net sales for the second quarter were $35.7 million, down 18% from the second quarter of last year. The decline in sales for the quarter was due to the significant decline in demand for wireless infrastructure products as well as the decline in counter-IED related business within the space of Defense Group.

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