Technology firm Filtronic slid into a pretax loss of £6.7 million in the year to May 31 2006 from a profit of £9.5 million the prior year.
Revenue from continuing operations climbed to £221 million, up from £212.9 million in 2005.
The loss in the year comes despite a £14.1 million gain on the sale of discontinued operations. But in the first half of the current year, the group anticipates revenue from wireless infrastructure and from compound semiconductors up 25 per cent on the prior year and on the previous quarter respectively.
The company also announced that it had appointed John Poulter non-executive chairman with immediate effect to succeed Rhys Williams.
Mr Williams will remain as a member of the board until he retires at the forthcoming AGM on September 29.
And David Rhodes has informed the board that he will retire at the September AGM as group chief executive and member of the board.
The final dividend was maintained at 1.80 pence for the year under review, for a total unchanged payout of 2.7 pence per share.
On outlook, the group said a continuing upswing in activity was expected for the Wireless Infrastructure division with customer demand supporting growth for the second half.
The board is continuing with its plans to sell the major activities within this division for £81 million in cash plus 20.7 million shares of Power-wave's common stock, to US firm Powerwave Technologies by September 30.
Cash proceeds from the sale will be used to repay outstanding bank debt and to fund continuing investment in the Newton Aycliffe semiconductor facility, along with other corporate working capital requirements.
The company said net proceeds from the sale of the Powerwave shares are expected to be returned to shareholders as cash, once they are sold. For Compound Semiconductors, Filtronic said it is now providing some 20 per cent of the overall mobile handset market.
"Continued market adoption of our type of switches is expected to reach 80 per cent of overall mobile phone market over the coming three years," it added. Filtronic also updated shareholders on its pension scheme - it expects to implement changes to the group's final salary pension scheme at the end of the consultation period on July 31.
