ATLANTA-Glenayre Technologies Inc. said it will cut 65 employees, or 18 percent of its work force, as part of a cost-savings effort. The company said it is on track to reach break even on earnings before interest, tax, depreciation and amortization by the fourth quarter of this year.
“In spite of ongoing challenges in the communications software sector, Glenayre expects to report increased revenue in the first half of 2003 compared with the second half of 2002,” said Eric Doggett, the company’s president and chief executive officer. “While longer sales cycles make it more difficult to predict the timing of converting opportunities to revenue, both the level and the quality of the proposal requests in the pipeline remain strong.”
Glenayre offers a range of enhanced services and messaging solutions for wireless and wired service providers.
