Anaren (ANEN) Cuts Q1 Outlook on Lower Demand and Delays
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Price: $27.98 --0%
Financial Fact:
Total operating expenses: 11.3M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Total operating expenses: 11.3M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Anaren, Inc. (Nasdaq: ANEN) today announced that it now expects revenue for the first quarter of fiscal 2012 to be approximately $38.7 million, compared with the consensus of $43.10.
Additionally, the Company expects GAAP net earnings per diluted share to be in the range of $0.14 to $0.16, inclusive of approximately $0.05 per share related to expected non-cash equity based compensation expense and acquisition related amortization of intangibles. Non-GAAP net earnings per diluted share are now expected to be in the range of $0.19 to $0.21 for the first quarter, versus the consensus of $0.29.
This updated outlook compares to the Company's previous guidance of $40 to $46 million for revenue and $0.22 to $0.27 for GAAP earnings per share. Non-GAAP earnings per share were previously expected to be between $0.27 and $0.32.
"The reduction in expected revenue and profitability for the first quarter of fiscal 2012 resulted primarily from a decline in demand for Wireless infrastructure component products, unanticipated delays in approvals for shipments of Space & Defense products and poor operational performance at our Unicircuit operation," said Lawrence A. Sala, President and CEO. "We believe the decline in Wireless infrastructure component demand is temporary as customer demand forecasts for calendar 2012 remain robust."
Additionally, the Company expects GAAP net earnings per diluted share to be in the range of $0.14 to $0.16, inclusive of approximately $0.05 per share related to expected non-cash equity based compensation expense and acquisition related amortization of intangibles. Non-GAAP net earnings per diluted share are now expected to be in the range of $0.19 to $0.21 for the first quarter, versus the consensus of $0.29.
This updated outlook compares to the Company's previous guidance of $40 to $46 million for revenue and $0.22 to $0.27 for GAAP earnings per share. Non-GAAP earnings per share were previously expected to be between $0.27 and $0.32.
"The reduction in expected revenue and profitability for the first quarter of fiscal 2012 resulted primarily from a decline in demand for Wireless infrastructure component products, unanticipated delays in approvals for shipments of Space & Defense products and poor operational performance at our Unicircuit operation," said Lawrence A. Sala, President and CEO. "We believe the decline in Wireless infrastructure component demand is temporary as customer demand forecasts for calendar 2012 remain robust."
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