Celeritek reports Q3’01 revenue results up 105% over Q3’00

Santa Clara, California–Celeritek, Inc., a designer and manufacturer of GaAs semiconductor components and GaAs-based subsystems for broadband transmission of voice, video, and data over wireless networks, recently announced results for the quarter ended December 31, 2000, the third quarter (Q3) of fiscal year 2001.

Celeritek reported revenues of $24,245,000 for Q3 of fiscal year 2001, compared with revenues of $11,822,000 for Q3 of fiscal year 2000–an increase of 105%. Net income for Q3 of fiscal 2001 was $2,609,000 or $0.21 per diluted share, compared with a net loss of $3,125,000 or $0.42 per share for the same period a year ago.

For the first 9 months of fiscal 2001, revenues were $67,043,000, compared to $32,741,000 for the first 9 months of fiscal 2000–an increase of 105%. Net income for the 9 month period was $5,930,000 or $0.50 per diluted share, versus a loss of $6,916,000 or $0.93 per share for the comparable period last year.

Orders for Q3 reached $28.7 million, making total orders for the year $94.4 million, and a book-to-bill of 1.4:1. As previously announced, Celeritek received a significant increase to a production order for satellite transceivers.

Tamer Husseini, president and chief executive officer commented, “We are confident of continued improvements in our semiconductor business, as we expand and diversify our customer base. We received over $1 million in orders for our newly introduced fiber products this quarter.” These orders included a production contract from Vitesse Semiconductor Corp. for a driver amplifier for use in external fiber optic modulators that target higher bandwidth applications.

Celeritek also reported $2.6 million in increased production orders for InGaP HBT modules to begin delivery in the upcoming fourth quarter. Subsequent to the close of the December quarter, Celeritek received an additional $15 million in orders for these products to be delivered during the next 12 months.


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