OWINGS MILLS, Md.-Aether Systems Inc. reported a relatively solid quarter of declining losses and a more positive outlook, although the company’s revenues also continued to decline.
Investors seemed heartened by the news, sending the company’s stock up about 4 percent to about $5.27 per share.
Wireless enterprise company Aether said it recorded revenues for the second quarter of $27.8 million, down from its $31.6 million in the same quarter last year. The company’s net loss also decreased to $14.7 million in the quarter, down from $19.5 million in the same quarter last year.
“This quarter marked our eighth consecutive quarter of improvements with regard to net operating loss, excluding certain non-cash and other charges, as we aim for profitability,” said Dave Oros, Aether’s chairman and chief executive officer, adding that the company recently signed Corporate Express, public-safety agencies in Hamilton County, Ohio, and trucking leader U.S. Xpress as customers. “We can now focus more of our efforts on growing areas of the business that have demonstrated the most resiliency. The aforementioned deployments, the additional customers we win on a regular basis, and the overall improved financial trends are encouraging developments.”
