NEW YORK-Citing financial profile improvement, Standard & Poor's Ratings Services placed its CCC- corporate credit rating and 'C' subordinated debt rating for Sprint PCS affiliate US Unwired Inc. on CreditWatch with positive implications.S&P noted that US Unwired's improving financial position is the result of...
IRVINE, Calif.-Wireless test and measurement company Comarco Inc. said it will reschedule the release of its first-quarter results for fiscal 2005 that were expected to be announced today . The company said its accounting firm has not completed its review of the results, hence...
WOODBURY, N.Y.-Investors cheered as Comverse Technology Inc. announced it reversed its losses to report a positive net income in its first fiscal quarter. The company also raised its forecast for the rest of the year, according to reports.Comverse's stock was up more than 7...
BELLEVUE, Wash.-Western Wireless Corp. reported late last week it had completed refinancing its $1.5 billion senior secured credit facility, which included a $225 million, six-year term loan A and a $975 million, seven-year term loan B, both fully drawn at closing, and a $300...
LAKE CHARLES, La.-Sprint PCS affiliate US Unwired Inc. said it intends to offer $125 million of first-priority senior secured floating rate notes due 2010 and $160 million of second-priority senior secured notes due 2012. Net proceeds from the offering together with cash balances will...
CellStar Corp. warned today that it expects its second-quarter revenues to be lower than those garnered in last year's second quarter. The company's stock plummeted more than 11 percent, or 68 cents, to trade at $5.33 per share following the warning.CellStar blamed the likely...
KIRKLAND, Wash.-Nextel Partners Inc. reported the expiration and final settlement of the tender offer for its 11-percent senior notes due 2010, noting it had accepted for purchase approximately $355.8 million aggregate principal amount of the outstanding notes representing 99.68 percent of the total principal...
SCHAUMBURG, Ill.-Motorola Inc. said it has received $1 billion loan from its banks led by JP Morgan Chase Bank and Citibank N.A.The line of credit will replace two previous loans totaling $1.6 billion, on which the wireless vendor never drew."Over the last several years,...
NEW YORK-Moody's Investor Services placed its ratings for Nextel Communications Inc. and its subsidiary Nextel Finance Co. on review for possible upgrade citing continued operational and financial outperformance."Since Moody's placed a positive outlook on the ratings in November, Nextel has continued to increase its...
NEW YORK-Test equipment company Agilent Technologies Inc. received good news from Standard & Poor's as the ratings agency upgraded its outlook from negative to positive.S&P cited the company's improved profitability, liquid balance sheet and revenue growth."Agilent has sharply improved its profitability over the past...
CALGARY, Alberta-Wi-Lan Inc. said it has acquired 17 U.S. patents and patent applications in its plans to produce what it calls the first WiMAX certified system. The company did not name the seller.It also plans to strengthen its WiMAX licensing strategy.Under the terms of...
RAMAT GAN, Israel-TransChip Inc., which develops integrated camera solutions for mobile phones and multimedia devices, said it has received approval to begin a research and development project.The Office of the Chief Scientist, part of Israel's Ministry for Industry and Trade, approved the $3.38 million...
BOSTON-American Tower Corp. announced its operating subsidiaries have refinanced their previous credit facility with a new $1.1 billion senior secured credit facility. The new credit facility consists of a $400 million revolving credit facility, a $300 million term A loan and a $400 million...
CAMBRIDGE, U.K.-Cambridge Positioning Systems Ltd. (CPS) said it has raised $9 million from existing investors to drive adoption of its Matrix location technology.The technology provides accuracy within 100 meters and costs less than $1 per handset to deploy, according to CPS. Currently, 10 mobile...
NEW YORK-Standard & Poor's Rating Services assigned its 'B+' bank loan rating and a '3' recovery rating to Nextel Partners Inc.'s wholly owned subsidiary Nextel Partners Operating Corp. $800 million senior secured credit facility. S&P also assigned a 'B-' rating to Nextel Partners' $25...
LONDON-Chip developer Berkana Wireless Inc. said it has raised $9 million in an oversubscribed round B of financing, an event that could boost its profile in integrated CMOS radio frequency and mixed-signal integrated circuits for GSM/GPRS technology."The $9 million extension will allow Berkana to...
SAN DIEGO-Handset distribution company InfoSonics Corp. said it plans to sell 2 million shares for between $5.50 and $6.50 per share in its upcoming initial public offering. The company plans to list its common stock on the American Stock Exchange under the symbol IFO.Founded...
SAN DIEGO-Novatel Wireless Inc., which provides wireless broadband access solutions, said it received more than $7 million in new orders from existing customers.The orders are for the company's Merlin U530 wireless PC card modems to be delivered this year. Seven operators, including Hutchison's 3,...
CARROLLTON, Texas-CellStar Corp., which provides handset logistics and distribution to carriers, said it will delay its planned initial public offering in China due to the company's flailing Taiwan operation and the depressed Chinese stock market."The listing process in Hong Kong is taking longer than...
PALO ALTO, Calif.-Agilent Technologies Inc. said its second fiscal quarter 2004 results reflect the highest order and revenue levels of the past three years.Orders for the company's Test and Measurement division were up 23 percent from a year ago at $745 million. Agilent said...
SANTA ROSA, Calif.-Sirific Wireless Corp., a radio-frequency transceiver company, closed its series B financing of $17 million. TD Capital Ventures led the funding. Intel Communications Fund made an initial strategic investment.Sirific is demonstrating a single-chip CMOS quad-band EDGE RF transceiver for mobile handsets, laptops...
LIBERTY LAKE, Wash.-Purcell Systems, which builds customized, modular outdoor power cabinetry solutions for wireless carriers, said it has completed a $16.6 million financing round.Purcell said it will use the funding to accelerate customer growth in its core markets, to expand into new global markets...
TORONTO-Nortel Networks Ltd. said it has received a federal grand jury subpoena demanding documents to help in the ongoing criminal investigations of the company's finances and top executives.The company said the U.S. Attorney's Office for the Northern District of Texas is conducting the criminal...
NORWOOD, Mass.-Analog Devices Inc. reported strong financial results for the second quarter of fiscal 2004, resulting in a cash dividend for stockholders. The company recorded revenues of $678.5 million, up 35 percent from the same period a year ago. Net income came in at...
