Alvarion met Q4 expectations, shedding 9%

Broadband wireless access solutions provider Alvarion (Nasdaq:ALVR) met Q4 2001 analysts forecasts for $25.2 million sales and a pro forma loss of 10 cents per share. The average forecast was sales of $25 million and a 10 cent or $5.6 million loss. In the same quarter last year sales of BreezeCOM alone came to $32.4 million.

Alvarion is currently sliding 9% on the Tel Aviv Stock Exchange.

The pro forma results reflect activity of BreezeCOM and Floware for the entire year, assuming the merger was completed January 1.

Alvarion posted a loss on the Q3 merger costs, including one-time expenses of $3.6 million on re-structuring and workforce reduction, and a $6.5 million early royalties payment to the Chief Scientist, came to $16.6 million.

The company ended 2001 with revenues of $99 million (or $137.1 million on a pro forma basis). In 2000 BreezeCOM reported revenues of $101.5 million.

The company's diluted net loss in 2000 came to $2.8 per share. Its diluted pro forma loss was 33 cents, compared with a diluted net loss of 33 cents for BreezeCOM in 2000.

In Q3, the quarter of the merger, the merged company posted one-time expenses of $34.5 million. The third quarter ended with a $72.5 million loss.

Alvarion makes systems for last mile Internet access and voice and data transfer, and for cellular connectivity and LANs.

If you liked this article you might like

Nessuah Zannex: Rating cut's main damage is to banks' images to foreigners

Nessuah Zannex: Rating cut's main damage is to banks' images to foreigners

Yes recruitment rate down to 6,000 a month

Yes recruitment rate down to 6,000 a month

Cadence to invest in Israeli startups

Cadence to invest in Israeli startups

Court grants Mentergy 40-day stay of proceedings

Court grants Mentergy 40-day stay of proceedings

Leader & Co sees Discount shifting to profit in Q3

Leader & Co sees Discount shifting to profit in Q3