Hey check out ANAD up 41% on news! ANADIGICS Announces

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ANADIGICS Announces Definitive Agreement and Plan -2-
3 hours 41 minutes ago - DJNF
they materialize or prove incorrect, could cause results to differ materially from those expressed or implied by such forward-looking statements. Further, all statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. We assume no obligation and do not intend to update these forward-looking statements, except as may be required by law. Important factors that could cause actual results and developments to be materially different from those expressed or implied by such projections and forward-looking statements include those factors detailed from time to time in our reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2014, and those discussed elsewhere herein.

Notice to Investors

The tender offer for the outstanding shares of common stock of ANADIGICS described in this communication has not yet commenced. This communication is for informational purposes only and is not an offer to purchase any shares of ANADIGICS or a solicitation of an offer to sell securities. At the time the tender offer is commenced, GaAs Labs will file a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and related documents, with the Securities and Exchange Commission ("SEC" and ANADIGICS will file a solicitation/recommendation statement on Schedule 14D-9 with the SEC. The tender offer statement (including an offer to purchase, a related letter of transmittal and other offer documents) and the solicitation/recommendation statement will contain important information that should be read carefully before any decision is made with respect to the tender offer. Such materials will be made available to ANADIGICS stockholders at no expense to them. In addition, such materials (and all other offer documents filed with the SEC) will be available at no charge on the SEC's website at www.sec.gov.

ANADIGICS, INC.

Consolidated

Statements of

Operations

(Amounts in thousands, except per

share amounts, unaudited)

Three months ended Nine months ended

October 3, September October 3, September 27,

2015 27, 2014 2015 2014

Net sales $ 12,123 $ 18,871 $ 46,365 $ 65,403

Cost of sales 10,495 16,038 37,756 59,654

Gross profit 1,628 2,833 8,609 5,749

Research and

development

expenses 4,695 5,600 14,969 21,438

Selling and

administrative

expenses 3,080 3,792 10,403 13,454

Restructuring

charges - 105 561 5,965

Operating loss (6,147) (6,664) (17,324) (35,108)

Interest and other

(expense) income,

net ( (5) (36) 1,655

Net loss ($ 6,155) ($ 6,669) ($ 17,360) ($ 33,453)

Net loss per

share:

Basic and diluted ($ 0.07) ($ 0.08) ($ 0.20) ($ 0.39)

Basic and dilutive

shares

outstanding 88,524 86,199 87,889 85,550

Unaudited Reconciliation of GAAP to Non-GAAP

Financial Measures

GAAP net loss ($ 6,155) ($ 6,669) ($ 17,360) ($ 33,453)

Stock compensation

expense

Cost of sales 110 183 650 705

Research and

development 185 374 1,110 1,450

Selling and

administrative 127 315 984 1,916

Cost of sales

charge (1) - - - 2,080

Marketable

securities

redemptions (2) - - - (1,728)

Restructuring

charges (3) - 105 561 5,965

Non-GAAP net loss ($ 5,733) ($ 5,692) ($ 14,055) ($ 23,065)

Non-GAAP loss per

share (*):

Basic and diluted ($ 0.06) ($ 0.07) ($ 0.16) ($ 0.27)

Supplemental

Information

Infrastructure $ 9,139 $ 10,036 $ 32,591 $ 29,424

Mobile 2,984 8,835 13,774 35,979

Net Sales $ 12,123 $ 18,871 $ 46,365 $ 65,403

Depreciation $ 1,838 $ 2,513 $ 6,038 $ 8,821

(*) Calculated using related

GAAP shares outstanding

(1) Cost of sales charge for the nine months ended

September 27, 2014 included $2,080 inventory write-down.

(2) Marketable securities adjustments

included realized gains upon redemptions.

(3) Restructuring for the nine months ended October

3, 2015 includes $611 workforce reduction, partly

offset by a $50

realized gain on the sale of a certain surplus fixed asset

previously classified as held for sale. Restructuring

charges for

the three months ended September 27, 2014 included

$1,696 workforce reduction and $1,591 realized gain

on the sale of

certain surplus fixed assets identified following

a strategic restructuring in the second quarter of

2014. The nine

months ended September 27, 2014 included $3,834 workforce

reduction charges and $3,722 fixed asset writedowns,

partly offset by $1,591 from realized gain on

the sale of certain surplus fixed assets.

ANADIGICS, INC.

Condensed Consolidated

Balance Sheets

(Amounts in thousands)

October 3, 2015 December 31, 2014 (*)

Assets Unaudited

Current assets:

Cash and cash

equivalents $ 11,688 $ 18,430

Accounts receivable 4,763 5,335

Inventory 8,128 13,844

Prepaid expenses and

other current assets 2,680 2,721

Assets held for sale - 335

Total current assets 27,259 40,665

Plant and equipment, net 11,698 17,171

Other assets 110 180

$ 39,067 $ 58,016

Liabilities and

stockholders' equity

Current liabilities:

Accounts payable $ 3,962 $ 5,913

Accrued liabilities 2,467 3,419

Accrued restructuring

costs 95 904

Bank borrowings 3,800 4,000

Total current

liabilities 10,324 14,236

Other long-term

liabilities 701 1,122

Stockholders' equity 28,042 42,658

$ 39,067 $ 58,016

(*) The condensed balance sheet at December 31, 2014

has been derived from the audited financial

statements at such date but does not include all the

information and footnotes required by U.S.

generally accepted accounting principles for complete

financial statements.

Investor Relations

Terrence Gallagher

Executive Vice President and CFO

ANADIGICS, Inc.

141 Mt. Bethel Road

Warren, NJ 07059

Tel: +1 908 668-5000

E-mail: tgallagher@anadigics.com

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