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Novatel Wireless (NVTL Quote) sank 15% in late trading Thursday even after rolling out a big supply agreement with British wireless giant Vodafone (VOD Quote).
The San Diego-based telecom-gear shop said it won a contract to supply Vodafone with its Merlin 3G Universal Mobile Telecommunications System wireless PC card modems for high-speed access to Vodafone's 3G network. Terms weren't disclosed.
The company also posted earnings for its third quarter ended Sept. 30. Novatel earned $4.9 million, or 16 cents a share, in the latest quarter, reversing the year-ago loss of $1.8 million, or 22 cents a share. Revenue surged to $31 million from $8 million a year earlier. ...
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