Anaren Financials Mixed; Guidance Positive
(FinancialWire via COMTEX) --
February 1, 2013 (FinancialWire) -- Communications components and systems manufacturer Anaren Inc. (NASDAQ: ANEN) recently reported fiscal second quarter earnings of $0.33 per share, excluding non-recurring items, which was $0.08 better than the market consensus estimate of $0.25. Reported revenues rose 6.4% year-over-year to $38 million, versus the higher $39.02 million market higher.
The company issued guidance for Q3, seeing EPS of $0.34 to $0.42, excluding non-recurring items, versus the $0.25 per share market estimate. Anaren also said it anticipates Q3 revs of $37 million to $41 million, versus the $39.02 million market consensus.
Company officials commented, "We are very pleased with the significant improvement in operating profitability resulting from a favorable product mix, operational efficiencies, and cost reductions as we exceeded our 15% non-GAAP operating profit target. While sales levels were down 2.7% sequentially, profitability improved in both of our business segments and we continue to focus on operating efficiency given the uncertainty in both defense and wireless infrastructure spending."
Anaren Inc. (approx market cap. US$ 251.6 mil.) engages in the design, development and manufacture of components, assemblies and subsystems primarily for the wireless communications, satellite communications and space and defense electronics markets worldwide. The company was founded in 1967 and is headquartered in East Syracuse, New York. Anaren employs approximately 862 people.
ANEN stock info:
Last quote at close: $19.57
Last close vs. 50-day moving avg.: +0.8%
Last close vs. 200-day moving avg.: +0.9%
Last close vs. 52-wk high: -6.2%
3-mo. avg. daily volume: 34,208 shares
Approx. avg. daily money volume: $663,977
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Stocks: Anaren Incorporated (NASDAQ: ANEN)
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