WiMax company Alvarion's Q1 loss widens
Israel-based maker of wireless broadband equipment expects to return to profitability in second quarter following restructuring
The maker of WiMax and wireless broadband equipment reported a quarterly net loss per share excluding one-time items of 10 cents, compared with a loss of 6 cents a year earlier. Revenue fell 10.4% to $46.5 million.
Analysts have said that while deployments for WiMax – a long-range wireless technology – were continuing, spending has been slower than expected as many mobile carriers have been choosing rival fourth-generation (4G) technology LTE.
President and Chief Executive Officer Eran Gorev said the company completed a difficult but successful restructuring in the quarter, laying the foundation for sustained profitability.
"Our backlog of orders and pipeline of business opportunities indicate that we are on track to achieve our goal of profitability from Q2 onward," Gorev said in a statement.
"That said, we also have a significant amount of business to ship before the end of the second quarter and remain vulnerable to potential delays, as we are in any quarter. We are pleased with our progress and generally confident about achieving our strategic goals."
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