WARREN, N.J. (AP) — Anadigics Inc.'s troubles deepened in the second quarter as the maker of wireless communications chips struggled to overcome a steep downturn in shipments to one of its most important customers.
The company said Thursday that it lost $13.1 million, or 19 cents per share, during the three months ending July 2. That contrasted with earnings of $791,000, or a penny a share, at the same time last year. The performance also deteriorated from this year's first quarter when Anadigics lost $10.7 million.
The latest setback wasn't a shock. When it announced its first-quarter results, Anadigics warned the spring would be a tough period because it expected its shipments to BlackBerry maker Research In Motion Ltd. to plummet by about $10 million from the first quarter's volume.
RIM caught Anadigics off guard by switching to a different chip-set vendor that wasn't compatible with Anadigics' products.
Losing that business was a big blow. At one point last year, RIM accounted for roughly one-third of Anadigics' revenue.