Tuesday, November 1, 2011

Alvarion Sees Q3 Decline, Hit by Open Range's Chapter 11

Alvarion reported Q3 revenues of $47.0 million, a decrease of 15.2% from $55.4 million in the second quarter of 2011, and a decrease of 13.0% from $54.0 million in the third quarter of 2010. GAAP net loss in the third quarter of 2011 was ($7.5) million, or ($0.12) per share, including charges of approximately $7.1 million related to the bankruptcy filing of Open Range Communications.

"Our Q3 results were in line with our expectations and we again reported a non-GAAP operating profit as well as a non-GAAP net profit," said Eran Gorev, President and CEO of Alvarion. “We are continuing to execute on our strategic plan aimed at shifting from a primary focus on WiMAX-based RAN solutions to becoming a multi-technology wireless broadband solution powerhouse. Last week, we introduced our BreezeCELL indoor capacity solution, based on TrueActive DAS technology, which was acquired via the purchase of Clariton Networks' IP-related assets earlier this year."http://www.alvarion.com

  • In October 2011, Open Range Communication, the largest Rural Utilities Service (RUS) funded carrier in the U.S., filed for Chapter 11 bankruptcy protection after its government loans were cut off. The company, which is based in Greenwood Village, Colorado, provides High Speed Wireless Internet and Home Phone services to rural communities across the U.S. Along with the filing, the company has laid off the majority of it workers and the CEO resigned. Open Range Communications operates a WiMAX network.