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TheStreet Open House

Anaren's CEO Discusses F3Q12 Results - Earnings Call Transcript

Anaren Inc. (ANEN)

F3Q12 (Qtr End 03/31/2012) Earnings Call

April 25, 2012 8:30 am ET

Executives

Larry Sala - President and CEO

George Blanton - CFO

Joe Porcello - VP of Accounting

Analyst

Richard Valera - Needham & Company

Mike Walkley - Canaccord

Chris McDonald - Kennedy Capital

Greg Garner - Singular Research

Presentation

Operator

Good day, ladies and gentlemen, and welcome to the Anaren third quarter earnings conference call. (Operator Instructions) I would now like to turn the conference over to your host, Larry Sala.

Larry Sala

Thank you. Good morning and thank you for participating in the interim fiscal 2012 third 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, earnings and our stock price.

Net sales for the third quarter were $34.7 million, down 21% from the third quarter of last year. The decline in sales for the quarter was due to the significant decline in demand from wireless infrastructure customers as well as a decline in sales of counter-IED related products within the space of Defense Group.

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