WOBURN, Mass.--Alpha Industries Inc. today reported net sales sequentially dropped 14.8% to $28.2 million in the company's fiscal fourth quarter, ended March 31, compared to $33.1 million in the prior three-month period. Alpha's sales were 47.7% lower than $54.0 million in the quarter last year.
The supplier of radio-frequency semiconductors posted a net loss of $8.5 million in the just-ended quarter, including one-time charges for its purchase of Aimta Inc.--a supplier of ceramics for modules (see March 15 story)--and expenses related to its planned merger with the wireless business of Conexant Systems Inc. (see Dec. 17 story).
In March, Alpha lowered its guidance for the just-ended quarter. "We met the revised top-line and bottom-line guidance provided to investors in March," said David Aldrich, president and CEO of Alpha. "As we announced at that time, our fourth-quarter results reflected a decline in wireless infrastructure spending by global telecom carriers, and short-term delays in two power amplifier orders. We expect these orders to begin ramping in the current quarter."
Based on design wins and production orders, the Woburn-based company is predicting an 8-to-12% sequential increase in revenues in the current quarter, Aldrich said. He said the growth will come from new modules for wireless phones and switch products.
"On the operations side, we anticipate our gross margin will improve by between 400 and 460 basis points, resulting in a loss per share in the fiscal 2003 first quarter, excluding merger-related expenses, of $0.09 to $0.10," said the CEO. Alpha's pro-forma loss--excluding one-time items--was $5.5 million, or $0.12 per share in the just-ended quarter.