SAN DIEGO-Axesstel Inc., which manufactures CDMA-based fixed-wireless local loop terminals, hybrid phones and engineering solutions, said it expects to record mixed results for its fiscal fourth quarter and full year ended Dec. 31, 2003.
The company said it expects to record $2 million in revenues for the fourth quarter of fiscal 2003, although it will take a quarterly net loss. The company also said it expects revenues of $11 million for the full fiscal year of 2003, with a net loss for the full year.
“We are pleased to achieve significant year-over-year revenue growth,” said Mike Kwon, chairman of Axesstel. “However, we’re disappointed with the bottom-line loss for the year, which primarily results from unforeseen delays and cancellation of product sales and development projects while maintaining our investment in engineering capabilities.”
