Anadigics Swings to Profit in 3Q

Profit totaled $2.4 million, or 4 cents per share, compared with a loss of $1.3 million, or 3 cents per share, in the same-period a year ago. Excluding stock-option expenses and costs associated from its acquisition of RF Group from Fairchild Semiconductors, net income was 11 cents per share.

The company had predicted adjusted earnings of 12 cents per share and said the penny shortfall was due to "manufacturing inefficiencies" associated with ramping up production to accommodate demand.

Revenue rose 36 percent to $59.5 million from $43.9 million last year.

Analysts polled by Thomson Financial predicted a profit of 12 cents per share on revenue of $59.3 million. Analyst estimates typically exclude one-time charges.

Anadigics said it has increased its market share with several customers leading to strong demand for its products.