Atlantic Tele-Network Inc. completed its purchase of certain Alltel wireless assets from Verizon Wireless. The purchase price was $223 million and the deal was completed through ATN’s subsidiary, Allied Wireless Communications Corp. The company said it also has acquired a license to continue using the Alltel name and service marks. Verizon was required to divest the properties as part of its purchase of Alltel in 2009.
Deutsche Telekom announced it plans to delist its stock from the New York Stock Exchange and to terminate its reporting obligations to the Securities and Exchange Commission. The company said it made the decision in an effort to simplify financial reporting and reduce administrative costs.
F5 Networks Inc. reported results for its second fiscal quarter. Revenues for the quarter were $206.1 million, up 33.7% from $154.1 million for the corresponding period last year. Net income was $33.1 million, or 41 cents per share, compared with net income of $19 million, or 24 cents per share, during last year’s second quarter.
Ground Truth said it raised $7million in Series B financing. New investors Emergence Capital Partners and OPENAIR Ventures joined existing investors Steamboat Ventures and Voyager Capital in the funding round. Ground Truth said it will use the funds to expand its operations as it builds its mobile media measurement business.
Lineage Power Holdings Inc., which provides power conversion solutions, said it completed its purchase of PECO II Inc. The companies said its combined portfolio of power solutions for mobile switching centers, outside plant optical backhaul networks and cell sites facilitate deployment of 4G/LTE and 3G network upgrades and also provide centralized visibility and control of telecom power infrastructure.
A planned merger between Orange, which is owned by France Telecom, and Swiss carrier Sunrise Communications has been blocked by regulatory agencies in the countries, according to reports. The agencies expressed concerns about the lack of competition in Switzerland, as well as price inflation.
PCTel Inc. said its revenues for the first quarter were $15.6 million, up 10% from revenues of $14.1 million for the first quarter last year. Net loss for the quarter was $795,000, or 5 cents per share, compared with a loss of $1.9 million, or 11 cents per share, for the same period last year.
Qualcomm Inc. reported revenues of $2.7 billion for its second fiscal quarter of 2010, up slightly from revenues of $2.46 billion during the same period last year. Net income was $774 million, or 46 cents per share, compared with a net loss of $289 million, or 18 cents per share, during the second quarter last year.
The joint venture of STMicroelectronics and Ericsson reported first-quarter results. Sales for the quarter were $606 million compared with the $562 million the companies would have reported for the first quarter of 2009. Net loss was $154 million.
Tellabs said its first-quarter revenues were $380 million, up 5% from revenues of $362 million reported during the first quarter of 2009. Net income was $45.9 million, or 12 cents per share, compared with $6.5 million, or 10 cents per share, for the first quarter of last year.
Texas Instruments announced first-quarter results, including revenues of $3.21 billion and net income of $658 million, or 52 cents per share. That compares with last year’s first-quarter revenues of $2.1 billion and net income of $17 million, or 1 cent per share.
Upcoming Earnings Announcements:
Crown Castle April 28
InterDigital April 28
Openwave April 28
Sprint April 28
Tessco April 28
Verisign April 28
CommScope April 29
Motorola April 29
Sierra Wireless April 29
TeleCommunication Systems April 29
Alvarion May 4
American Tower May 4
Glu Mobile May 4
Powerwave May 4
Superconductor Technologies May 4
Syniverse May 4
UTStarcom May 4
Brightpoint May 5
Clearwire May 5
SBA May 5
Calamp May 6
FiberTower May 6
Leap May 6
MetroPCS May 6
Novatel May 6
Capital Markets: Allied Wireless, Ground Truth, Deutsche Telekom and more
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