ORLAND PARK, Ill.-Andrew Corp. reported significant increases in sales but substantial declines in net income and net income per share for its first quarter, which ended Dec. 31.
The network equipment vendor posted revenues of $254.53 million, up from $199.9 million. However, net income declined to $6.07 million from $15.33 million, and net income per share dropped to 6 cents from 19 cents.
“As expected, this was a difficult quarter with relatively difficult comparisons to last year’s strong first quarter. . (However), we continue to make progress in spite of lower worldwide telecommunications equipment spending and global economic uncertainty,” said Floyd English, chairman and chief executive officer.
“Our confidence in the long-term wireless infrastructure market continues to grow, as do our capabilities by constantly expanding our addressed market and (offering) the foremost product line in the industry.”
