REDWOOD CITY, Calif.-Wireless Internet software provider Openwave Systems Inc. reported a solid quarter, showing increasing revenues and a decreasing net loss, with an outlook for generally improving numbers next quarter.
“We continue to execute on our plan toward profitability,” said Don Listwin, the company’s president and chief executive officer. “Our optimism in the mobile data market is growing as operators worldwide are rolling out new services.”
Openwave reported revenues of $68 million for its first fiscal quarter, an increase from the $66.5 million it scored in the previous quarter. The company’s net loss was $14 million, down from the $25.7 million it reported in the preceding quarter.
The company said it had cash, cash equivalents, short- and long-term investments totaling $367.3 million, a war chest that will help fund the company for the foreseeable future.
Openwave said it expects revenues of about $65 million in the coming quarter, and a net loss of between $5 million and $15 million.
The company’s stock was up about 6 percent after the news to about $13.09 per share.
Separately, the company announced new multimedia messaging sales to Vivo in Brazil and Telus Mobility in Canada.
