NEW YORK-The first fruits of the merger between Phone.com and Software.com sprouted last week as Openwave Systems Inc. reported a profit for its second fiscal quarter and painted a rosy picture for the future.
The company’s revenues increased 36 percent to $109.7 million from $80.8 million during its first fiscal quarter and 278 percent from revenues of $29.1 million during the same period last year.
However, it recorded a net loss for the quarter of $228.6 million, or $1.38 per basic and diluted share, compared with a loss of $168 million, or $1.04 per share, for the first fiscal quarter and a net loss of $25.4 million, or 19 cents per share, for the second quarter last year.
The company said it hopes to break even in third-quarter 2001 and improve to a 1-percent profit at the end of the year.
Openwave also announced plans with Verizon Wireless to introduce a standards-based, over-the-air provisioning solution for voice and data.
The offering, when coupled with Verizon Wireless’ IP network, will centrally manage handset parameters, automatically update roaming lists and area code information, maintain IP addresses and data parameters and enable remote software updates to wireless phones, according to Openwave.
Openwave said implementation of the Internet-based solution platform has already begun.
