Andrew To Sell Satellite Communications Business
[5/04/07] Andrew Corp. plans to sell its satellite communications business, which contributed 6 percent of the company’s revenues in the 2007 second quarter, Andrew announced May 3.
Andrew lost $2 million in the 2007 second quarter despite record revenues of $503 million, the company reported. Revenues improved 4 percent from the same period a year ago, but Andrew attributed the loss to higher income taxes. In the 2006 second quarter, Andrew posted a profit of $3.6 million.