Israeli wireless broadband solutions provider Alvarion posted a four percent increase in revenues in the fourth quarter of 2002, reaching $22.3 million compared with $21.6 million for the third quarter of last year. Revenues for the fourth quarter of 2001 were $25.2 million.
Net loss for the fourth quarter of 2002 was $5.4 million including restructuring costs of $1.1 million. This compares to a net loss for the third quarter of 2002 of $4.8 millionand $16.6 million for the fourth quarter of 2001.
The results of the fourth quarter of 2002 included amortization of current technology and deferred stock compensation totaling $740,000, and restructuring costs totaling $1.1 million. Excluding these amounts, the company's pro-forma net loss for the quarter was $3.5 million. This compares with a pro-forma net loss of four million dollars in the third quarter of 2002 and a pro-forma net loss of $5.6 million in the fourth quarter of 2001.
Alvarion is a provider of solutions based on point-to-multipoint (PMP) broadband wireless access (BWA) used by telecom carriers, service providers, and enterprises worldwide. Alvarion systems provide Internet access and voice and data services in the last mile, cellular network feeding, building-to-building and wireless local area network (LAN) connectivity. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
