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Anaren captures $14M in radar-related orders

By Kevin Tampone

Date:

DeWITT — Anaren, Inc. (NASDAQ: ANEN) said today it received more than $14 million in new orders for parts involved in a ground-based radar system.

Deliveries will begin in the fourth quarter this year and take about 15 months, according to the company. DeWitt–based Anaren develops and manufactures components and subsystems for markets including satellite communications, defense, and wireless communications.

Profit in Anaren’s fiscal third quarter, which ended March 31, totaled $2 million, or 14 cents a share, down more than 41 percent from the same period a year earlier. Net sales dropped more than 21 percent to $34.7 million.

Declining profits and sales sparked job cutting at the firm. The company began eliminating jobs last July and has so far reduced its work force of 1,000 employees by 19 percent.

Weak demand for some of the company’s wireless products drove the sales dip, according to Anaren. Company leaders believe the dip in wireless sales is temporary. Customer forecasts are showing strength and wireless sales should increase during Anaren’s fiscal fourth quarter, according to the firm.

Anaren, which has locations in the Syracuse area, New Hampshire, Colorado, and China, has not provided details on where the job cuts have occurred.

Contact Tampone at ktampone@cnybj.com

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