SAN JOSE, Calif. Communications-chip makers Atheros, Anadigics, and Mindspeed posted mixed results in the quarter.
Atheros Communications Inc. (Sunnyvale, Calif.), a developer of advanced wireless solutions, said revenue in the first quarter was $41.2 million, compared with $41.7 million in the fourth quarter.
In accordance with U.S. generally accepted accounting principles (GAAP), the company's first quarter net income was $1.7 million, or earnings of $0.03 per diluted share on 53.8 million average shares outstanding. This compares with GAAP net income of $2.2 million, or $0.04 per diluted share on 53.5 million average shares outstanding in the fourth quarter of fiscal 2004.
Also on the wireless front, Anadigics Inc. (Warren, N.J.) reported first quarter 2005 net sales of $21.8 million, compared to net sales of $22.4 million in the prior quarter and $21.2 million in the year ago quarter. The net loss for the quarter was $11.5 million or $0.34 per share compared with a net loss of $10.3 million or $0.31 per share in the prior quarter and $12.8 million or $0.40 per share in the year ago quarter.
Net sales for the second quarter of 2005 are expected to increase by 5-8 percent compared with the first quarter of 2005. The loss per share for the second quarter of 2005 is expected to decrease by 3-6 percent.
On the WAN side, Mindspeed Technologies Inc. (Newport Beach, Calif.) announced revenues of $26.6 million for the second quarter of fiscal 2005, compared to the $26.3 million reported in the first quarter of fiscal 2005.
Presented on a GAAP basis, the net loss for the second quarter of fiscal 2005 was $18.4 million, or $0.18 per share, compared to $30.5 million, or $0.30 per share in the prior quarter.
Mindspeed expects third-quarter revenues to be approximately flat-to-up-5 percent sequentially. It expects its fiscal 2005 third quarter pro forma operating loss to be approximately 15 percent lower than in the second fiscal quarter.