ANADIGICS, Inc. continued its dismal performance in fourth quarter 2012 as it registered a loss of $16.1 million or 23 cents per share compared with a loss of $15.6 million or 23 cents per share in the year-ago quarter. Excluding one-time items, adjusted net loss for the reported quarter came in at 20 cents per share vis-à-vis 14 cents in the year-earlier quarter. The adjusted loss per share for fourth quarter 2012 was narrower than the Zacks Consensus Estimate of a loss of 22 cents.
For full year 2012, the company reported a loss of $69.9 million or 99 cents per share compared to a loss of $49.3 million or 73 cents per share in the previous year. Excluding one-time items, adjusted net loss for 2012 came in at 88 cents per share versus 47 cents in the preceding year. The adjusted loss per share for the year was relatively better than the Zacks Consensus Estimate of a loss of 97 cents.
Total revenue for fourth quarter 2012 was $30.5 million, down 16.5% year over year from $36.5 million in the year-earlier quarter. Cellular wireless segment contributed $23.7 million of the total revenue, while legacy WiFi and infrastructure accounted for $1.1 million and $5.6 million, respectively.
The company had three customers who generated more than 10% of the total revenue in the reported quarter namely, Samsung Electronics Co. Ltd. , ZTE Corp. (ZTCOY - Free Report) , and Hauwei. For full year 2012, ANADIGICS reported revenue of $112.6 million compared with $152.8 million in the prior year.
ANADIGICS ended the quarter with cash and equivalents of $24.9 million, down from $32.7 million at year-end 2011. During the quarter, ANADIGICS incurred $0.4 million in capital expenditures while capacity utilization was 55%.
Going forward, management did not provide any specific guidance for the coming quarter. ANADIGICS expects sequential growth in the coming quarter in its WiFi segment partially offset by a seasonal decline in cellular wireless business.
ANADIGICS continues to focus on three market drivers that it believes will expand its served available market. These drivers include the rapid adoption of 3G and 4G data connectivity in wireless mobile devices, expansion of wireless and CATV infrastructure to support increase data use, and proliferation of high performance WiFi connectivity in mobile devices.
The company presently has a Zacks Rank #3 (Hold), while one of its peers Rambus Inc. (RMBS - Free Report) has a Zacks Rank #1 (Strong Buy).