Sunday, April 20, 2008

Openwave's CEO Resigns, Company Posts Preliminary Results

Openwave Systems named Bruce Coleman as interim chief executive officer effective immediately, succeeding Robert Vrij, who resigned from the position of president and CEO. A search is underway for a permanent CEO.

Openwave also announced preliminary results for its third quarter ended March 31, 2008. Revenue is expected to be approximately $58 million. The shortfall in revenue versus prior quarter was due to a reduction in maintenance and support and services revenue. The company expects gross margin on a GAAP basis to be approximately 57% and approximately 61% on a non-GAAP basis.