reported a fourth-quarter loss today that beat Wall Street's lowered estimates by 3 cents.
For the fourth quarter ended Dec. 31, Anadigics lost $331,000, or 1 cent a share. The company, which is based in Warren, N.J., earned $4.4 million, or 15 cents a share, in the same period one year ago. Nine analysts surveyed by
First Call/Thomson Financial
expected the company to lose 4 cents a share.
The company, which makes radio frequency integrated circuits for the communications industry, also posted fourth-quarter revenue of $30.7 million, down 24% from $40.1 million in the year-ago quarter.
"Our fourth quarter performance was affected by overall communications market conditions and inventory corrections at certain customers," the company said in a press release.
Shares of Anadigics fell 19 cents, or 1.1%, to $16.94 in recent