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Nortel receives grand jury subpoena in financial investigation

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...

Motorola sells chip company holdings for $316M

SCHAUMBURG, Ill.-Motorola Inc. said it has raised up to $316 million from selling shares in chipmakers Broadcom Corp. and Semiconductor Manufacturing International Corp.Motorola will spin off its chip business, which is named Freescale Semiconductors Inc., later this year.The vendor raised $216 million by selling...

LNP boosts Cellebrite sales

FRANKLIN LAKES, N.J.-Cellebrite said its sales have jumped 40 percent in 2003, and it credits wireless local number portability for its success. Cellebrite's RealSync/UME12 product transfers stored phone names and numbers between cell phones in less than two minutes. "We are proud to provide...

CallWave files for $69M IPO

SANTA BARBARA-CallWave Inc., which provides services that allow customers to bridge between wireless and home phones and their PCs, said it has filed for an initial public offering to raise up to $69 million.CallWave's software, which can be downloaded at its Web site, enables...

Cambridge Broadband closes $15M in financing

CAMBRIDGE, United Kingdom-Cambridge Broadband Ltd., which develops fixed wireless access technology, said it closed its series C financing round for a total of $15.25 million.Proceeds will be used to fund the company's expansion plans. The funding round was led by venture-capital firm Accel Partners."Very...

Metrocall revenue increases despite declining sub base

ALEXANDRIA, Va.-Paging and messaging carrier Metrocall Holdings Inc. reported increasing revenues and net income along with a declining subscriber base. The carrier also said it is working with Arch Wireless Inc. to file a joint proxy/registration statement to obtain shareholder approvals for the previously...

SpectraSite prices share offering

CARY, N.C.-SpectraSite Inc.'s previously announced secondary offering of 9 million shares of common stock has been priced at $36.25 per share. The shares are being offered through Apollo Management V L.P., Oaktree Capital Management L.L.C. and Capital Research and Management Co. The selling stockholders...

Revenues up for Crown, SBA, but losses continue

Despite increased revenues, tower companies Crown Castle International Corp. and SBA Communications Corp. reported first-quarter financials in the red, although Crown managed to shave its losses.Crown reported site rental and broadcast transmission revenue of $219.4 million, up 18.6 percent, or $34.4 million, from last...

SBA reports revenue, net loss increases

BOCA RATON-SBA Communications Corp. late Thursday rounded out the public tower sector's first-quarter 2004 financial earnings.The company recorded revenues of $57.3 million, up from $51.7 million in last year's first quarter. Of that, site leasing revenue made up $33.9 million and site development revenues...

Crown Castle results show growth

HOUSTON-Wireless communications tower owner Crown Castle International Corp. released financial results for the first quarter of 2004 in line with guidance issued last month.The company reported site rental and broadcast transmission revenue of $219.4 million, up 18.6 percent, or $34.4 million, from last year's...

Qwest posts drop in wireless base

DENVER-Following a slower-than-expected transition of its wireless customers to Sprint PCS' network as part of a mobile virtual network operator agreement announced last year, Qwest Communications International Inc. posted a 17.4-percent year-over-year drop in its wireless customer base from 988,000 customers at the end...

Motorola sets quarterly dividend

SCHAUMBURG, lll.-Motorola Inc. said it has declared a quarterly dividend of 4 cents per share that will be paid to stockholders July 15. This will be Motorola's 229th consecutive quarterly dividend, said the company. The effective date is close of business June 15.The company...

Alamosa Holdings cuts loss in half

LUBBOCK, Texas-Sprint PCS affiliate Alamosa Holdings Inc. reported a 25-percent increase in first-quarter revenue from $141.1 million last year to $176.7 million this year, which helped the carrier cut net losses nearly in half from $30.5 million last year, a loss of 33 cents...

Telcordia buys Granite Systems

PISCATAWAY, N.J.-Telcordia Technologies Inc. said it has acquired Granite Systems Inc. for an undisclosed sum to enhance inventory management as it advances its operational support system solutions.Granite will offer flexible inventory products and scalable architecture, said Telcordia."Telcordia and Granite have each deployed software on...

US Unwired strong in 1Q, begins unlimited prepaid trial

LAKE CHARLES, La.-Sprint PCS affiliate US Unwired Inc. posted a 14 percent year-over-year increase in total revenues from $124.7 million during the first quarter of 2003 to $141.6 million this year, which when combined with a drop in total operating expenses over the same...

Alcatel hits profit on stabilizing revenue

Telecom vendor Alcatel Corp. reported a net income of $280.4 million, signaling its business has scaled the hump of recent downturns. This net income represents 22 cents per share.Excluding items, the company's net income stood at $160 million, or 12 cents per share. In...

Superconductor Technologies narrows quarterly loss, files stock offering

SANTA BARBARA, Calif.-Superconductor Technologies Inc. this week released its first-quarter 2004 financial results.Total net revenues for the quarter were $5.4 million compared with $7.6 million for the year-ago first quarter. Net loss was $5.9 million, or 9 cents per share, compared with a net...

InterDigital increases 1Q earnings guidance

KING OF PRUSSIA, Pa.-InterDigital Communications Corp. said its first-quarter earnings would be ahead of expectations, news that sent the technology vendor's stock up 20 percent to $18.90 per share.InterDigital said NEC Corp.'s third-generation handset sales, along with strong sales from the rest of the...

Novatel prices shares, moves to Nasdaq National

SAN DIEGO-Wireless broadband access solution provider Novatel Wireless Inc. said it has priced its follow-on offering for 6 million shares of common stock at $15.50 per share. The company also announced its common stock will begin trading on the Nasdaq National Market System today...

Openwave narrows loss

REDWOOD CITY, Calif.-Wireless Internet vendor Openwave Systems Inc. reported increasing revenues and a narrowing net loss in its slow march toward profitability."Openwave delivered a strong quarter as the second wave of mobile data has moved mainstream worldwide," said Don Listwin, the company's president and...

InfoSpace hits profitability on strong wireless revenue

BELLEVUE, Wash.-Internet and wireless technology vendor InfoSpace Inc. reported $48.1 million in revenues, up 59 percent from the same quarter a year ago. The company also scored net income of $5.4 million, a turnaround from the $1.9 million net loss it reported in the...

Optasite garners $10M for tower acquisitions

WORCESTER, Mass.-Optasite Inc., a wireless services firm that provides acquisition, cell site construction, testing and maintenance services, said it has received $10 million in financing.The company plans to use the new capital to develop and acquire wireless tower assets, initially in the Northeast and...

Siemens doubles mobile division profit

BERLIN-Technology giant Siemens AG reported net income increasing to $1.4 billion in its second quarter, up from the $673 million it reported in the same quarter last year. The firm said the increase was largely due to the sale of its stake in chipmaker...

Proxim releases 1Q financials

SUNNYVALE, Calif.-Proxim Corp. released first-quarter 2004 financial results in line with preliminary results announced earlier this month.Proxim reported revenue of $26.7 million, down from $40 million in the year-ago first quarter. Net loss was $17.5 million, or 14 cents per share, up from last...