Anadigics, a provider of semiconductor services in the broadband wireless and wireline communications markets, has reported a net loss of $36.38m, or $0.6 per diluted share, for the fourth quarter of 2008, compared to a net income of $2.86m, or $0.05 per diluted share, for the same quarter of 2007.
For the fourth quarter of 2008, net sales were $45.24m, compared to $67.57m for the same quarter of fiscal 2007.
For the year ended December 31, 2008, net sales were $258.17m, compared to $230.56m in 2007. Net loss was $41.87m, or $0.7 per diluted share, for 2008, compared to a net income of $5.95m, or $0.1 per diluted share, in 2007.
Gilles Delfassy, board chairman of Anadigics, said: We had a very strong first half due to the success of our products. However, we weren’t able to completely satisfy the high product demand at that time, which resulted in a loss of market share at certain customers in the second half. This has been compounded by the recent economic slowdown with customers delaying orders to reduce their exposure in this weak and continuingly uncertain economic environment.
