Satellite Products Drive Sales Growth At Andrew

By | April 29, 2004 | Uncategorized

Andrew Corp. [ANDW] reported record sales of $447.1 million for the second fiscal quarter ended March 31. Sales were up 122 percent from the $201.3 million record during the same period one year ago, and up 9 percent from the $410.8 million in sales recorded during the first fiscal quarter ended Dec. 31, 2003. Andrew officials attributed the rise in sales to a new customer in the broadband satellite market along with increased shipments of geolocation products.

Andrew also reported net income of $10.3 million for the second quarter, an improvement compared to a net loss of $3.4 million during the same period one year ago.

The company also noted that increased antenna product sales were driven by coverage requirements for network expansion and a significant increase in unit volume for certain new product lines within the broadband satellite market.

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