SUNNYVALE, Calif.-Proxim Corp. announced financial results for the third quarter that were fairly flat compared with last quarter.
Revenue was $31.5 million, up slightly from the second quarter’s $31.4 million, but down from $35.1 million recorded a year ago. Net loss was $4.4 million or 4 cents per share, compared with a loss of $10.1 million, or 8 cents per share, last quarter and a net loss of $38.2 million, or 31 cents per share in the third quarter of 2003. The company said it ended the third quarter with $19.1 million in cash, cash equivalents and restricted cash.
Highlights from the quarter included a 46-percent improvement in sales of Proxim’s Tsunami MP.11 product line during the last quarter; 41 percent growth in its Tsunami QuickBridge line of products since the second quarter, pointing to growth in its enterprise wireless point-to-point business; and 44 percent growth for its ORiNOCO AP-4000 access point over last quarter, indicating increasing success in its transition from legacy local area network products to next-generation Wi-Fi platforms.
The company added that sales of its Lynx digital radios for cellular backhaul fell short of expectations, blaming the decrease on reduced carrier spending and consolidation.
Shares of Proxim were trading up about 3.5 percent at $5.62 following the news.
