CHARLOTTE, N.C.-Glenayre Technologies Inc. announced a fourth quarter net loss of $45.4
million, or 73 cents per share, compared with $37.1 million, or 61 cents per share, reported for the same quarter
1997.
Net sales for the quarter fell 22 percent to $96.8 million from $123.6 million in 1997.
The company said
several charges incurred during the quarter negatively impacted the results, including a $26.7 million write-off related
to its prepaid wireless business, a $7.9 million loss from selling its CNET network management business, $6.8 million
in restructuring costs and other costs because of pager production problems.
