CUPERTINO, Calif.—Vyyo Inc. reported revenues for the third quarter ended Sept. 30 of $2.9 million, a decrease from the $4.5 million reported for third-quarter 2000.
The company experienced a net loss of $11.1 million, or 30 cents per share, compared with a net loss of $8.2 million, or 23 cents per share, for the same period last year.
Davidi Gilo, Vyyo’s chairman of the board, said the company is committed to supporting its current customers and to expanding its efforts in the 3.5 GHz band internationally.
Vyyo also said Gilo has been appointed chief executive officer, and Michael Corwin has returned to the company as president and chief operating officer.
John O’Connell, former CEO of Vyyo, resigned but will remain in an advisory role, and Eran Pilovsky, Vyyo’s chief financial officer, also resigned to pursue other opportunities.
