MONTREAL—Telesystem International Wireless Inc. announced several financial moves it has taken as part of its overall recapitalization plan announced last November.The company has given notice to extend its purchase offer for all its outstanding units in exchange for 5.46 subordinate voting shares of TIW...
RESTON, Va.—Following its filing for Chapter 11 bankruptcy, wireless data carrier Motient Corp. announced its stock will trade on an over-the-counter bulletin board system. The company's delisting from the Nasdaq National Market follows moves from other wireless data companies in similar situations, including Arch...
TORONTO—Mobile-commerce company 724 Solutions Inc. announced earnings in line with its revised guidance, but the news didn't do much to bolster investor confidence. The company's stock dropped from about $2.30 per share to just over $2 following the news.The company's revenue for the fourth...
HELSINKI—Nokia said it will ask shareholders at its annual general meeting to approve plans to buy back up to 220 million of its own shares, which will either be used to finance acquisitions or be canceled.The company's board also said it will ask shareholders...
ST. LOUIS—Amdocs Ltd. reported first-quarter earnings after the trading close January 22 of $4.3 million, or 2 cents per share, on revenues of $422.6 million.For its 2002 first quarter, which closed December 31, Amdocs said its revenue increased by 23.5 percent over the same...
HELSINKI—Nokia Corp. reported decreased profits for the fourth quarter ended Dec. 31, but increased sales for the year, helped along by an increase in worldwide mobile-phone market share, which now stands at 37 percent, according to the company.The company recorded fourth-quarter net sales of...
REDWOOD CITY, Calif.—Wireless Internet giant Openwave Systems Inc. posted revenues of $93.4 million for the second quarter, better than some analyst estimates, but its third-quarter outlook gave rise to worry. Following the news JP Morgan and Pacific Crest downgraded the company, and its stock...
MONTREAL—Telesystem International Wireless Inc. said it has given notice to extend its purchase offer for all outstanding units in exchange for 5.46 subordinate voting shares of TIW for each unit tendered. Unless further extended or withdrawn, the offer, which is part of the company's...
CAMPBELL, Calif.—P-Com Inc., a manufacturer of point-to-point and point-to-multipoint wireless systems, said it is going forward with a restructuring plan that includes strengthening the management team, introducing new products and reducing operating expenses by $3.3 million in hopes of returning the company to profitability...
RESTON, Va.—XO Communications Inc. said it reached a definitive agreement with Forstmann Little & Co. and Telefonos de Mexico S.A. de C.V. on the terms of their previously announced plan to invest $400 million each in XO in exchange for equity in the new...
NEW ORLEANS—Telecom staffing and hiring companies are optimistic regarding job security and job outlooks for the telecom industry this year, according to a recent study by TelecomCareers.Net. The company surveyed more than 600 recruiting and human resources professional in the telecom field on expectations...
BOSTON—Bankrupt paging company Arch Wireless has filed a reorganization plan highlighting the efforts it will take to pull itself out of a $2 billion debt.Arch said it will issue new common stock and its operating subsidiary Arch Wireless Holdings will issue $300 million in...
CARROLLTON, Texas-CellStar Corp., a distributor and value-added logistics provider to the wireless industry, will seek shareholder approval at its annual meeting February 12 for a one-for-five reverse split of common stock to reduce the number of outstanding shares so the stock can continue its...
NEW YORK—Moody's Investors Service down graded both SpectraSite Holdings Inc. and Pinnacle Holdings Inc.Moody's said it took the action because Pinnacle is unable to get longer-term covenant relief from its bank group, it severely lacks liquidity and its tenant base is eroding.In SpectraSite's case,...
TORONTO—Mobile-commerce company 724 Solutions Inc. said it expects to report lower-than-expected revenues for the fourth quarter.The company's stock dropped more than 12 percent in trading following the news to about $2.15 per share.724 Solutions said it expects to score between $5.6 million and $6...
BOCA RATON, Fla.—Esemde Wireless Messaging announced it received additional funding from ComROAD AG but did not disclose the amount. The company said it would use the funding to expand its products and services.Esemde makes technology that allows wireless carriers to offer businesses customized wireless...
WASHINGTON, D.C.—Eight hundred dislocated workers at Lucent Technologies Inc. will benefit from a $42.9 million grant from the U.S. Department of Labor made available under the National Emergency Grant program.Reps. John Tierney and Marty Meehan and Sen. Edward Kennedy secured the money for the...
NEW YORK—A trio of wireless carriers tapped the deep well of the debt markets last week, collectively raising nearly $2 billion.Korea Telecom was first out of the starting gate, raising $1.32 billion in five-year, unsecured notes convertible into common stock. The securities, sold in...
RESTON, Va.—Wireless data carrier Motient Corp. announced plans to restructure its debt under a Chapter 11 bankruptcy plan the company filed with the Eastern District of Virginia Bankruptcy Court, a move Motient said will eliminate more than $40 million in annual interest payments.Motient said...
NEW YORK—Loral Space & Communications said it will pay a $14 million civil fine without admitting guilt as part of a settlement with the Justice Department concerning the firm's involvement in a failed Chinese rocket launch in 1996.Loral, which contracted with a Chinese launch...
NEW YORK—Flextronics International Ltd. announced its 20 million-share offering is complete.Flextronics sold the shares for $25.96 each, bringing in gross proceeds of $519.2 million, which it said will be used for general corporate purposes, including working capital, capital spending and strategic acquisitions. The financing...
TAMPERE, Finland—Wireless data infrastructure company Tahoe Networks Inc. announced it scored an additional $10 million in funding, bringing its total funding to more than $50 million, and that it appointed former Openwave Systems Inc. executive Tony Miranzadeh as its senior vice president for worldwide...
WARREN, N.J.—Wireless power amplifier supplier Celiant Corp. announced it purchased most of the assets of Fujant Inc., which was a power amplifier start-up company."Current industry conditions favoring consolidation allowed us to buy, at a significant discount, assets that mesh well with our product and...
REDWOOD CITY, Calif.—Wireless Internet giant Openwave Systems Inc. announced it expects its loss for the second quarter to be on the low end of its outlook, but that its revenues will also be slightly less than expected.The company said its loss for the quarter...
