Sirenza Reports Record Quarter
May 4, 2006
Satellite Standard Group tries to bring investors not only stories about Sirius and XM, but also stories about companies that do business with Sirius and/or XM. On April 14, 2006 we did a profile piece on Sirenza. You can read that article by clicking
HERE.
On May 3, 2006, Sirenza announced their quarterly earnings and reported record revenue.
"We are very pleased that we have successfully carried forward the momentum we established in the second half of last year, as demonstrated by our record quarterly financial performance this quarter," stated Robert Van Buskirk, President and Chief Executive Officer of Sirenza Microdevices. "We continue to make excellent progress in the pursuit of our strategic goals to execute, expand and diversify our business and in achieving our targeted long-term net income margin of 15% on a pro forma basis," Van Buskirk added. "Our record quarterly positive cash flow from operations in the first quarter marked ten consecutive quarters of positive cash flow from operations and strengthened our balance sheet this quarter. With the completion of the Premier Devices acquisition in April, we are now actively engaged in the integration of PDI's products and capabilities into Sirenza's global business platform. We are very excited about the potential for stronger growth for the new, larger and more capable Sirenza in 2006 and beyond."
For those that are not aware, Sirenza manufactures antennas that are utilized by Sirius Satellite Radio.
Some analysts have already raised guidance on Sirenza. For example, HAMR raised Guidance from $10.00 to $12.50. Those that follow satellite radio equities should keep Sirenza on their radar screen.
5/04/2006 10:05:00 AM
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