Hey check out ANAD up 41% on news! ANADIGICS An
Post# of 23083
Posted On: 11/12/2015 12:14:12 PM
Hey check out ANAD up 41% on news!
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
(MORE TO FOLLOW) Dow Jones Newswires
November 12, 2015 08:30 ET (13:30 GMT)
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
(MORE TO FOLLOW) Dow Jones Newswires
November 12, 2015 08:30 ET (13:30 GMT)
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NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'