Posts a revenue of $9.8m compared with $14.4m for the fourth quarter of 2007
Endwave, a provider of RF modules for telecommunications networks, defense electronics and homeland security systems, has reported a GAAP net loss of $11.1m, or $1.19 per share, for the fourth quarter of 2008 ended December 31, 2008, compared with a net loss of $1.1m, or $0.09 per share for the fourth quarter of 2007.
The company posted a revenue of $9.8m for the fourth quarter of 2008, compared with $14.4m for the fourth quarter of 2007.
For the full year 2008, total revenues were $58.3m, compared with $56.5m for 2007. GAAP net loss for the year ended December 31, 2008 was $14.8m, or $1.60 per share, compared with a GAAP net loss for 2007 of $5.4m, or $0.47 per share.
Ed Keible, CEO and president of Endwave, said: Our full year 2008 revenues of $58.3m increased 3% over 2007 despite the weakness experienced in the fourth quarter as a result of the macroeconomic situation and, in particular, the weak demand from our telecommunications customers. We are pleased that our diversification efforts into the defense and security markets are gaining traction, which resulted in substantial year-over-year revenue gains for that business.