Annual revenue increases 19%
Alvarion, an Israel-based provider of wireless broadband services, has posted a GAAP net loss of $4.8m, or $0.08 per share, in the fourth quarter of 2008 ended December, 31, 2008, compared to a net income of $803,000 or $0.01 per share in the thid quarter of 2008.
In the fourth quarter of 2008, the company posted revenues of $70.1m, an increase of 6% from $66.3m in the fourth quarter of 2007.
For the full year 2008, revenues totaled $281.3m, an increase of 19% over $236.6m in 2007. Net loss for the year 2008, was $5.5m, or $0.09 per share, compared with net income from continuing operations of $7.1m, or $0.11 per share in 2007.
Tzvika Friedman, president and CEO of Alvarion, said: In 2008, WiMAX continued to exhibit strong demand, despite concerns over a spreading global recession. We are very pleased with our record level of WiMAX shipments and our book-to-bill ratio of well over 1 in the fourth quarter. We are further encouraged by the fact that we are entering 2009 with a backlog of business twice as large as we had a year ago. Our non-WiMAX business was stable in 2008 and we expect it to remain so in 2009.