MELBOURNE, Fla.-Shares of AirNet Communications Corp. skyrocketed nearly 70 percent today after the company, which designs software-defined base station products for wireless communications, said it expects first-quarter revenues to be at the high end of its previously forecasted range.
The company now expects revenues to exceed $3.6 million for the first quarter, representing a 100-percent improvement from the $1.8 million in revenue it recorded for the first quarter of 2003. AirNet previously said revenue for the first quarter would be between $3 million and $4 million.
AirNet was trading at $1.72 per share following the news.
