Posted a revenue of $11.61m compared to $13.76m for fourth quarter of 2007
Proxim Wireless has reported a net loss from continuing operations of $1.68m, or $0.07 per share, for the fourth quarter ended December 31, 2008, compared to a net loss from continuing operations of $12.83m, or $0.51 per share, for the same period in 2007.
For the fourth quarter ended December 31, 2008, the company posted revenues of $11.61m, compared to $13.76m for same period in 2007.
For the year ended December 31, 2008, Proxim reported revenue of $49m, compared to $61.94m in 2007. The company posted a net loss of $10m, or $0.43 per share, for 2008, compared to a net loss of $19.1m, or $0.82 per share, in 2007.
Pankaj Manglik, president and CEO of Proxim Wireless, said: In light of the global economic downturn, we have taken measures to reduce costs while maintaining our commitment to product development. As a result, we will be announcing more innovative products across both our WLAN and licensed and license-free WiMAX product lines in the coming months, which will help us accelerate revenue out of the downturn.