Vyyo reports drop in net revenues, even 5-cent loss per share

Vyyo (Nasdaq:VYYO) reported a drop in net revenues to $1.2 million for the second quarter of 2002, versus $1.8 million for the first quarter of 2002.

Net loss for the second quarter of 2002 was $1.7 million or $0.05 per share compared to $1.8 million or $0.05 per share for the first quarter of 2002.

Per share amounts do not reflect the one-for-three reverse split of Vyyo's common stock to be effected on August 1, 2002.

As of June 30, 2002, Vyyo had cash, cash equivalents and short-term investment balances, net of current liabilities, of $66 million.

The Vyyo Inc. consolidated balance sheet as of June 30, 2002 includes the assets and liabilities of Shira Computers Ltd., Vyyo's recently acquired subsidiary.

Vyyo also announced that David Aber has been appointed as the chief financial officer of Vyyo, replacing Davidi Gilo, Vyyo's chairman and chief executive officer, who has resigned as interim CFO.

"We are pleased to have David Aber join our company as CFO. He has extensive experience as the CFO of publicly traded companies and we look forward to working with him at Vyyo," stated Davidi Gilo.

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