Anaren Inc. (ANEN, Financial) filed Quarterly Report for the period ended 2012-09-30.
Anaren, Inc. has a market cap of $265 million; its shares were traded at around $18.7 with a P/E ratio of 31.1 and P/S ratio of 1.8. Anaren, Inc. had an annual average earning growth of 24.2% over the past 10 years. GuruFocus rated Anaren, Inc. the business predictability rank of 2.5-star.
Net sales for the three months ended September 30, 2012 were $39.1 million, up 0.9% from sales of $38.7 million for the first quarter of fiscal 2012. Net income for the first quarter of fiscal 2013 was $2.9 million, or 7.3% of net sales, up $0.4 million from net income of $2.5 million in the first quarter of fiscal 2012.
Net sales. Net sales were $39.1 million for the first quarter of fiscal 2013, up 0.9% compared to $38.7 million for the first quarter of fiscal 2012. Sales of Wireless Group products fell $5.0 million, or 27.5%, and sales of Space & Defense Group products rose $5.4 million, or 26.1%, in the current first quarter compared to the first quarter of fiscal 2012.
Operating Income. Operating income increased $0.4 million in the first quarter of fiscal 2013 to $4.0 million, (10.2% of net sales), compared to $3.6 million (9.3% of net sales) for the first quarter of fiscal 2012. This increase in operating income was a result of the $0.5 million decline in operating expenses, which offset the small negative impact on gross margins from the less favorable product mix during the current quarter.
On an operating segment basis, Wireless Group operating income was $1.9 million (14.1% of Group sales) for the first quarter of fiscal 2013, down $1.8 million from the Group s operating income of $3.7 million (20.2% of Group sales) in the first quarter of fiscal 2012. The decline in Wireless Group operating income in the first quarter of fiscal 2013, compared to the first quarter of fiscal 2012, was due to the $5.0 million, or 27.5%, decline in Wireless Group sales. This significant decline in demand, year-over-year, has resulted in a large drop in production volumes and under absorption of Group manufacturing overhead and operating expenses in the current first quarter.
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Anaren, Inc. has a market cap of $265 million; its shares were traded at around $18.7 with a P/E ratio of 31.1 and P/S ratio of 1.8. Anaren, Inc. had an annual average earning growth of 24.2% over the past 10 years. GuruFocus rated Anaren, Inc. the business predictability rank of 2.5-star.
Highlight of Business Operations:
For the second quarter of fiscal 2013, we anticipate comparable sales for both the Wireless and Space & Defense Groups compared to the first quarter levels. As a result, we expect net sales to be in the range of $37 to $41 million. We expect earnings per diluted share, absent the effect of any one-time events, to be in the range of $0.17 - $0.25, using an anticipated tax rate of approximately 32% and inclusive of approximately $0.05 per share related to expected non-cash equity based compensation expense and amortization of intangibles.Net sales for the three months ended September 30, 2012 were $39.1 million, up 0.9% from sales of $38.7 million for the first quarter of fiscal 2012. Net income for the first quarter of fiscal 2013 was $2.9 million, or 7.3% of net sales, up $0.4 million from net income of $2.5 million in the first quarter of fiscal 2012.
Net sales. Net sales were $39.1 million for the first quarter of fiscal 2013, up 0.9% compared to $38.7 million for the first quarter of fiscal 2012. Sales of Wireless Group products fell $5.0 million, or 27.5%, and sales of Space & Defense Group products rose $5.4 million, or 26.1%, in the current first quarter compared to the first quarter of fiscal 2012.
Operating Income. Operating income increased $0.4 million in the first quarter of fiscal 2013 to $4.0 million, (10.2% of net sales), compared to $3.6 million (9.3% of net sales) for the first quarter of fiscal 2012. This increase in operating income was a result of the $0.5 million decline in operating expenses, which offset the small negative impact on gross margins from the less favorable product mix during the current quarter.
On an operating segment basis, Wireless Group operating income was $1.9 million (14.1% of Group sales) for the first quarter of fiscal 2013, down $1.8 million from the Group s operating income of $3.7 million (20.2% of Group sales) in the first quarter of fiscal 2012. The decline in Wireless Group operating income in the first quarter of fiscal 2013, compared to the first quarter of fiscal 2012, was due to the $5.0 million, or 27.5%, decline in Wireless Group sales. This significant decline in demand, year-over-year, has resulted in a large drop in production volumes and under absorption of Group manufacturing overhead and operating expenses in the current first quarter.
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