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| ANAD > SEC Filings for ANAD > Form 8-K/A on 29-Oct-2012 | All Recent SEC Filings |
29-Oct-2012
Results of Operations and Financial Condition
On October 29, 2012, ANADIGICS, Inc. ("ANADIGICS") is issuing a press release and holding a conference call announcing its financial results for the third quarter 2012. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K/A. The information in this Form 8-K/A and the Exhibit attached hereto is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Use of Non-GAAP Financial Measures
The attached press release includes financial measures that are not in
accordance with GAAP, consisting of non-GAAP net income or loss and non-GAAP
income or loss per share. Management uses non-GAAP net income or loss and
non-GAAP income or loss per share to evaluate the Company's operating and
financial performance in light of business objectives, for planning purposes,
when publicly providing our business outlook and to facilitate period-to-period
comparisons. ANADIGICS believes that these measures are useful to investors
because they enhance investors' ability to review the Company's business from
the same perspective as the Company's management and facilitate comparisons of
this period's results with prior periods. These non-GAAP measures exclude
amounts related to stock-based compensation, marketable securities' adjustments,
restructuring, and management separation charges. Non-GAAP measures are used by
some investors when assessing the ongoing operating and financial performance of
our Company. These financial measures are not in accordance with GAAP and may
differ from non-GAAP methods of accounting and reporting used by other
companies. Management acknowledges that stock-based compensation is a recurring
cost and is an important part of our employee's compensation and impacts their
performance. However the expense is non-cash in nature and there are various
valuation methodologies and assumptions used in determining stock-based
compensation that may be unrelated to operations, such as volatility and current
interest rates. The presentation of the additional information should not be
considered a substitute for net income or loss or income or loss per share
prepared in accordance with GAAP. The primary material limitations associated
with the use of non-GAAP measures as compared to the most directly comparable
GAAP financial measures are (i) they may not be comparable to similarly titled
measures used by other companies in ANADIGICS industry, and (ii) they exclude
financial information that some may consider important in evaluating our
performance.
Pursuant to the requirements of Regulation G, ANADIGICS has included a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
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