Andrew Corp Reports Record 4th Quarter Sales

Andrew Corp has reported record total sales of US$624 million for the fourth quarter fiscal 2007, compared to US$599 million in the prior year fourth quarter. Wireless infrastructure sales increased 6% to $597 million, compared to $564 million in the prior year fourth quarter, due to solid sales growth in all geographic regions outside of North America.

On a GAAP basis, the company reported a net loss of $62.6 million for the fourth quarter, compared to a net loss of $59.7 million in the prior year fourth quarter.

"We are extremely pleased with our record sales for the fourth quarter and for the full year fiscal 2007, despite a significant decline in North American sales in both periods," said Ralph Faison, president and chief executive officer, Andrew Corporation. "The strength of our global footprint is evident, as we experienced robust sales growth in all other geographies outside of North America. We achieved sales growth of approximately 14% on a sequential basis in our fourth fiscal quarter, historically our strongest quarter. We also have solid momentum as we enter fiscal 2008.

"In what proved to be a challenging environment for wireless equipment vendors this year, our operating performance, excluding significant items, improved in both the quarter and for the full year compared to last year. We also took a number of necessary actions during the quarter to address our underperforming businesses, and we continue to evaluate all of our product lines for adequate returns. Our announcement last week, in which we revised our filter relationship with Nokia Siemens Networks, is a strong example of our ongoing effort to focus resources on more profitable growth opportunities."

Wireless Infrastructure sales increased to $597 million from $564 million due to strong demand for antenna and cable products, sales growth of certain base station components, and a favorable foreign exchange impact of approximately $19 million.

Total orders of $610 million increased 11% from the prior year fourth quarter due to solid demand across all wireless infrastructure products, which was partially offset by a decrease in orders for satellite communications products. Orders declined in North America, offset by strong orders in EMEA and Latin America. Ending backlog was $304 million, compared to $316 million in the prior year fourth quarter.

Posted to the site on 4th November 2007