Net sales of $241.8 million, declined 7% from last year. Net income declined 41% to $12.2 million from last year’s $20.9 million. Diluted net income per share dropped 42% to $.15 from $.26 last year. Backlog grew 42% to $248.4 million at the end of the June quarter.
Orders for the nine months ended June 30, 2001 rose 11% to $823.1 million compared with last year’s $742.5 million. Sales increased for the nine months to $756.8 million, up 3% from last year. Net income was $41.3 million compared with $54.9 million last year, a decline of 25%. Diluted net income per share was down 25% to $.51, compared to $.68 last year.
Cash from operations during the quarter was $42.4 million, up from $6.4 million last year. For the nine months ended June 30, 2001 cash from operations was $110.4 million compared to $13.0 million a year ago.
In a media announcement Floyd English, chairman of Andrew, said, In spite of the general economic sluggishness in the US and lower wireless infrastructure equipment spending in Europe, our continued success in growing new orders shows we are well diversified and benefiting from the strategies we’ve put in place. The third quarter was our ninth quarter in a row of year-over-year orders growth. But we are disappointed that we did not achieve the sales and profit growth we had expected at the beginning of the quarter, as our business was negatively impacted by delayed communications infrastructure equipment spending. Nonetheless, we achieved sequential growth in orders and sales, of 9% and 3% respectively, in the quarter.
