ISSY_LES_MOULINEAUX, France-Wavecom SA reported third-quarter net income of $16.85 million, or $1.13 per share, on revenues of $167 million, almost entirely derived from sales of its WISMO modules.
By comparison, the company, whose stock trades on Nasdaq, had third-quarter 2001 net income of $4.1 million, or 28 cents per share, and earned net revenues of $87.3 million.
WISMO modules are small devices that include all the hardware, software and related technology necessary to enable wireless communications over GSM/GPRS and CDMA networks. Applications include mobile phones, telematics systems, handheld computers, vending machines and utility meters.
Sales to the Asia-Pacific region represented 87.2 percent of total third-quarter revenues, with 10.3 percent for the Europe/Middle East/Africa region and 2.5 percent for the Americas region.
Sales of WISMO integrated wireless modules accounted for 95.5 percent of total third-quarter revenues, while modem sales comprised 4.2 percent and service revenues less than 1 percent. Product shipments totaled 2.9 million.
