CONTRACTS
ANADIGICS, Inc.—Has entered into an investment contract with the Kunshan New and Hi-Tech Industrial Development Zone (KSND) to jointly construct a 6-in. galliumarsenide (GaAs) integrated-circuit (IC) wafer-fabrication facility (fab) for ANADIGICS, Inc. in the city of Kunshan in the Jiangsu Province in China. The purpose of this contract is for expanding the ANADIGICS wafer-fabrication capacity beyond its primary wafer fabrication located in Warren, NJ.
It is anticipated that ANADIGICS will invest in capital expenditures of approximately $10 million to $15 million over a two-year period commencing with the fourth quarter of 2007 through an initial production phase projected in the first quarter of 2009. The total investment by ANADIGICS over the life-term of the facility, which could extend up to 50 years, is estimated at $49.88 million.
Sirit, Inc.—Announced that it has secured an order totaling $2.0 million from the Orange County Transportation Authority (OCTA) in Southern California. The contract calls for Sirit to deliver its UHF RFID transponder technology over the next three years, with deliveries to commence in Q2 2007.
WPCS International, Inc.—Has been awarded a variety of new contracts totaling approximately $10.6 million.
Some of the new contracts awarded to WPCS, through its subsidiaries, include projects to be completed for the United States Postal Service, Wesco Distribution, Commonwealth Electric, Foxwoods Resort Casino, Boston Edison Co., Rand-Whitney Group, Union Pacific Railroad, Bradley International Airport, and Monmouth University.
Lockheed Martin—Announced that it has been awarded a $6 million contract to develop and integrate a demonstration payload that will temporarily transmit a third civil signal on a modernized Global Positioning Block IIR (GPS IIR-M) satellite.
This new contract directs Lockheed Martin and its navigation payload supplier, ITT in Clifton, NJ, to provide an onorbit demonstration capability for the new civil signal. The signal, located on the L5 frequency (1176 MHz), will comply with international radio-frequency spectrum requirements. The Block IIR-M spacecraft with the demonstration payload is planned for launch in 2008.
FRESH STARTS
Hittite Microwave Corp.—Reported revenue for the first quarter ended March 31, 2007 of $36.3 million, representing an increase of 30.4 percent compared with $27.9 million for the first quarter of 2006. Net income for the quarter was $12.0 million, or $0.39 per diluted share, an increase of 36.0 percent compared with $8.8 million, or $0.29 per diluted share, for the first quarter of 2006, and compared with $12.1 million, or $0.39 per diluted share, for the fourth quarter of 2006.
Conexant Systems, Inc.—Released financial results for the second quarter of fiscal 2007, which ended on March 30, 2007. For the second fiscal quarter, the company reported revenues of $199.9 million, consistent with the updated revenue outlook provided on April 9, 2007.
Curtiss-Wright Corp.—Reported its financial results for the quarter ended on March 31, 2007. The results included:
- Net sales for the first quarter of 2007 increased 18 percent to $332.6 million from $282.6 million in the first quarter of 2006.
- Operating income in the first quarter of 2007 increased 43 percent to $35.1 million from $24.6 million in the first quarter of 2006.
- Net earnings for the first quarter of 2007 increased 59 percent to $19.5 million, or $0.44 per diluted share, from $12.3 million, or $0.28 per diluted share, in the first quarter of 2006.
Endwave Corp.—Announced the acquisition of privately held ALC Microwave, Inc. for approximately $6.6 million in cash.
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ALC is a provider of logarithmic amplifier subsystems to many US and international defense prime contractors. Since its founding in 1999, ALC has been delivering amplifier products for use in early warning radars, threat-detection equipment, electronic countermeasures, and missile-guidance systems. Additionally, ALC provides microwave and millimeter-wave components and subsystems for several other advanced defense electronics platforms not previously served by Endwave.
ALC, with approximately 40 employees, is located in El Dorado Hills, CA, in close proximity to Endwave's Diamond Springs, CA operation. ALC's revenues were approximately $5.5 million in 2006.
Cascade Microtech, Inc.—Announced that Peregrine Semiconductor Corp. has placed a multimillion-dollar order for Cascade Microtech's Pyramid Probe cards for its advanced RF-CMOS integrated-circuit (IC) production. The probe cards, which have begun to ship to Peregrine, will be used to test Peregrine's latest generation UltraCMOS™ high-power antenna switches.
RF Micro Devices, Inc.—Added a research and development center to their Shanghai facility, which is located in Shanghai's Zhanjiang High-Tech Park.
The new center will expand RFMD's product-development capacity to support original design manufacturers (ODMs), original equipment manufacturers (OEMs), and local and international handset manufacturers throughout the Far East.
International Communications Group (ICG)—Announced a record-breaking year in 2006, posting their largest increase in sales to date—35 percent over 2005. ICG experienced a double-digit increase in market share in the business aviation sector for 2006. For the second year in a row, the Virginia Chamber of Commerce has honored ICG as one of the fastest-growing businesses in the state through the Chamber's Fantastic 50 recognition program.
G.T. Microwave, Inc.—Appointed SEMIC RF Electronic GmbH (www.semic.de) to represent them in Germany, Austria, and Switzerland.