ANADIGICS Announces Fourth Quarter and Full Year 2007 Results



    ANADIGICS, INC.
    Consolidated Statements of Operations
    (Amounts in thousands, except per share amounts, unaudited)

                                       Three months ended  Twelve months ended

                                       December  December  December  December
                                       31, 2007  31, 2006  31, 2007  31, 2006

       Net sales                        $67,569   $48,456  $230,556  $166,442
       Cost of sales                     44,131    32,407   151,768   116,211
       Gross profit                      23,438    16,049    78,788    50,231
       Research and development
        expenses                         13,230     9,714    46,539    35,054
       Selling and administrative
        expenses                          8,109     6,579    30,171    23,660
       Operating income (loss)            2,099      (244)    2,078    (8,483)
       Interest income                    2,259     1,360     8,035     5,433
       Interest expense                    (591)     (956)   (2,463)   (4,816)
       Other expense                       (907)      (25)     (734)       (4)
       Income (loss) from continuing
        operations                        2,860       135     6,916    (7,870)
       Loss from discontinued
        operations(1)                       -        (249)     (965)     (980)
       Net income (loss)                 $2,860     $(114)   $5,951   $(8,850)

       Basic earnings (loss) per share
       Income (loss) from continuing
        operations                        $0.05      $-       $0.13    $(0.18)
       Loss from discontinued
        operations(1)                      $-        $-      $(0.02)   $(0.02)
       Net income (loss)                  $0.05      $-       $0.11    $(0.20)

       Diluted earnings (loss) per share
       Income (loss) from continuing
        operations                        $0.05      $-       $0.12    $(0.18)
       Loss from discontinued
        operations(1)                      $-        $-      $(0.02)   $(0.02)
       Net income (loss)                  $0.05      $-       $0.10    $(0.20)

       Basic shares outstanding          58,414    45,649    55,189    43,814
       Basic & dilutive shares
        outstanding                      60,802    45,649    58,621    43,814

       Unaudited Reconciliation of GAAP
        to Pro Forma Non-GAAP Financial
        Measures

       GAAP net income (loss)            $2,860     $(114)   $5,951   $(8,850)
       Stock compensation expense in
        continuing operations
            Cost of sales                   922       637     3,409     1,777
            Research and development      1,517     1,129     5,855     3,271
            Selling and administrative    1,564     1,078     6,012     3,121
       Auction rate securities
        impairment                          957       -         957       -
       Loss from discontinued
        operations(1)                       -         249       965       980
       Pro forma net income              $7,820    $2,979   $23,149            $299

              Pro  forma  earnings  per  share  *
              Basic                                                            $0.13          $0.07          $0.42          $0.01
              Diluted                                                        $0.13          $0.07          $0.39          $0.01

              (*)  Calculated  using  related  GAAP  shares  outstanding

              (1)  The  loss  from  discontinued  operations  reflects  the  divestiture  of
              Telcom  Devices,  Inc.,  effective  April  2,  2007.



        ANADIGICS,  INC.
        Condensed  Consolidated  Balance  Sheets
        (Amounts  in  thousands,  unaudited)

                                                                                    December  31,  2007    December  31,  2006
                  Assets

                  Current  assets:
                        Cash  and  cash  equivalents                            $57,786                      $13,706
                        Marketable  securities                                    103,778                        60,892
                        Accounts  receivable                                          45,664                        26,707
                        Inventory                                                              23,989                        20,219
                        Prepaid  expenses  and  other
                          current  assets                                                    3,277                          2,114
                        Assets  of  discontinued
                          operations  (1)                                                        -                              1,429
                  Total  current  assets                                            234,494                      125,067

                  Marketable  securities                                            15,248                          8,884
                  Plant  and  equipment,  net                                      76,129                        41,259
                  Goodwill  and  other  intangibles,
                    net  of  amortization                                                6,524                          5,929
                  Other  assets                                                                1,066                          1,463
                                                                                                    $333,461                    $182,602

                  Liabilities  and  stockholders'
                    equity

                  Current  liabilities:
                        Accounts  payable                                              $34,184                      $17,879
                        Accrued  liabilities                                            7,928                          5,588
                        Capital  lease  obligations                                    -                                  312
                        Liabilities  of  discontinued
                          operations  (1)                                                        -                                  252
                  Total  current  liabilities                                    42,112                        24,031

                  Other  long-term  liabilities                                  3,243                          3,348
                  Long-term  debt                                                          38,000                        38,000
                  Long-term  capital  lease
                    obligations                                                                    -                              1,463

                  Total  Stockholders'  equity                                250,106                      115,760
                                                                                                    $333,461                    $182,602

        (1)  The  Company  disposed  of  the  assets  of  its  subsidiary,  Telcom  Devices,
                Inc.,  on  April  2,  2007.
 

Web site: http://www.anadigics.com//



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