NEW YORK—Subscriber growth for U.S. wireless services companies for fourth quarter 2001 may fall below previous Wall Street expectations, according to analysts from Merrill Lynch.The research company cut its industry-wide gross subscriber growth forecast from 22 million to 20 million. It also cut 2002...
SANTA CRUZ, Calif.—Plantronics Inc. has acquired Ameriphone Inc., a company that develops telephones and accessories for the hearing impaired.Ameriphone will join Plantronics' Walker Division, which supplies amplified phones, specialty handsets and communication test equipment to the special needs market. Plantronics said it expects to...
BALA CYNWYD, Pa.—The law offices of Marc Henzel in Bala Cynwyd, Pa., and Cauley Geller Bowman & Coates L.L.P. in Little Rock, Ark., joined several other firms in filing class action lawsuits in the U.S. District Court for the Eastern District of Virginia on...
RESTON, Va.—NII Holdings Inc., a subsidiary of Nextel Communications Inc., revealed it failed to make an $8.3 million payment on Dec. 31 under its Argentine credit facility and could be forced to file for bankruptcy.According to the filing with the Securities and Exchange Commission,...
LOS ANGELES—USIntellicom's prepaid wireless system infringes Telemac Corp.'s patent for a network-independent prepaid billing system, according to a recent Federal District Court ruling.Pre-Cell Solutions Inc. and its subsidiaries, USIntellicom and Pre-Paid Solutions, were ordered to pay damages of $7.4 million plus litigation costs to...
TORONTO—WaveRider Communications Inc. announced its securities are subject to delisting from the Nasdaq National Market.The company said it was issued a Nasdaq Staff Determination that said it did not comply with the minimum net tangible assets and the minimum stockholders' equity requirements from continued...
RYE, N.Y.—Lynch Interactive Corp. said it has withdrawn its interest in acquiring telecommunications holding company Conestoga Enterprises Inc. in a $273 million cash deal.The announcement follows Conestoga's statement that it would not pursue Lynch's indication of interest.
CARROLLTON, Texas-CellStar Corp. has amended the terms of its proposed exchange offer for its five percent Convertible Subordinated Notes due October 2002.Now, for each $1,000 principal amount of Subordinated Notes tendered, holders will receive $366.67 in cash and can elect to take one of...
MONTREAL—Telesystem International Wireless Inc. announced it has sent the maturity notice for the 7 percent equity subordinated debentures due February 15, 2002, and has advised registered ESD holders that it will repay the ESD principal amount of approximately $94 million. If TIW is successful...
VANCOUVER, British Columbia—Sierra Wireless Inc. has reduced its fourth-quarter revenue and earnings estimates, citing delays in shipments and production.The company now expects revenues between $8.3 and $8.6 million, down from the previous $14 million to $15 million estimate. The company added that its bottom-line...
The personal digital assistant and wireless data device markets shook last week under a series of major announcements that served to puzzle, jar and-in most cases-hearten Wall Street and the wireless industry.The handheld computing industry has suffered through the past year along with the...
Shortly after Motorola Inc. reconfirmed its guidance for fourth-quarter sales and revealed another 9,400 jobs will be eliminated during the next year, the company boldly predicted it will increase its share of the global handset market from approximately 15 percent to 25 percent over...
LOS ANGELES—Purchasers of Brightpoint Inc. common stock have filed a class action lawsuit against the company, alleging false and misleading statements were made regarding the financial condition of the company.Law firm Weiss & Yourman will represent the plaintiffs—purchasers of Brightpoint stock between January 29,...
TORONTO—Com Dev International Ltd. said it plans to sell parts of its wireless division to Mitec Telecom Inc. for about $14.6 million.The exact cash and shares splits will be finalized upon closing, expected to occur around January 31.
NEWARK, N.J.—IDT Corp., the former suitor of Teligent Inc., said it will acquire Winstar Communications Inc. for $42.5 million after several tumultuous days of negotiations.Lawyers for Winstar were planning to ask the bankruptcy court on Monday if the company could file for Chapter 7...
VANCOUVER, British Columbia—Wavemakers has received a $4.4 million investment commitment from Technology Partnerships Canada for the Vancouver, B.C., company's "OnTarget" initiative to develop speech recognition by electronic devices in areas with background noise interference.Building on its ClearStream product, Wavemakers said OnTarget's goal is the...
ATLANTA—BellSouth Corp. said it had advised the Communications Workers of America it would be reducing 1,200 non-management network operations positions early next year. The telecommunications provider said it would offer a voluntary separation package to affected employees and it hopes to achieve most of...
REDWOOD SHORES, Calif.—Oracle Corp. has posted lowered, albeit in-line, earnings in financial results for its fiscal second quarter. The company's net income for the quarter was $549.5 million, or 10 cents per share, down from year-ago earnings of $622.8 million, or $1.21 per share....
RESTON, Va.—XO Communications Inc. requested to voluntarily delist its stock from the NASDAQ National Market and currently expects that it will begin trading on the NASD Over the Counter Bulletin Board on Dec. 17 under the symbol XOXO.NASDAQ halted trading of XO on Nov....
SARASOTA, Fla.—Pinnacle Holdings Inc. said its lenders extended the deadline on its credit facility until Feb. 6, 2002, but the company raised serious doubts it will be able to meet payment requirements without having to sell assets or raise more capital.Pinnacle will have to...
ARLINGTON, Va.—Iridium Satellite L.L.C. predicts its satellite constellation will retain functionality into the next decade, based on internal analysis of satellite and operational data, as well as an external study by an independent company.Iridium did not specify, however, what would happen with the satellites...
STOCKHOLM, Sweden—L.M. Ericsson said it is refinancing its loans involving 13 operators to the tune of $1.5 billion, most of which pertained to third-generation vendor infrastructure commitments.The company said $300 million are vendor credits from its balance sheet, $130 million are underwritten and $1.09...
WOODBURY, N.Y.—Comverse Technology Inc., which sells wireless messaging systems, announced third-quarter results that were in line with expectations and, as anticipated, announced a round of layoffs to cut costs.The company's net income was $20 million, compared with $68 million during the same quarter last...
SAN DIEGO—Zucotto Wireless Inc., which works to integrate wireless connectivity with Java technology, cut its work force by 40 percent, or 39 positions, in response to the economic slowdown."Zucotto has delivered a silicon-proven Java technology-based product to the market, and must now continue to...
