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.