Thursday, October 6, 2011

Alvarion Expects $7 Million Charge Due to Open Range Bankruptcy Filing

As a result of the bankruptcy petition filed by Open Range Communication Inc.. Alvarion expects a one-time charge of approximately $7 million. It has not been determined whether this charge will affect the financial statement for the third quarter, which ended September 30, 2011, which will be reported on November 2, 2011, or if the impact will appear in the fourth quarter results. Alvarion was the turnkey network technology provider to ORC.
http://www.alvarion.com

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