HOLTSVILLE, N.Y.—Symbol Technologies Inc. said its third quarter earnings per share, to be officially released following market close Thursday, October 18, should be in line with previous analyst estimates, but revenues will likely be down.The company said it will meet analysts' 5 cents per...
ALLENTOWN, Pa.-In an amendment agreement with its bank group, Agere Systems said it has paid $1 billion of its $2.5 billion debt it assumed from parent company Lucent Technologies Inc. The maturity date of its $1.5 billion balance has been extended from Feb. 21,...
VIENNA, Va.—Teligent Inc. said its auction to sell its remaining assets has been rescheduled for Oct. 11. The U.S. Bankruptcy Court in Manhattan is overseeing the proceedings.
DALLAS—In its ongoing effort to pull itself out of bankruptcy, WebLink Wireless Inc. announced several reconstruction-and-reduction moves it plans to make.The company will shut down its San Antonio, Texas, call center within the next 60 days, transferring that call load to Amarillo and Dallas...
ATLANTA-Glenayre Technologies Inc. announced it will not implement the reverse stock split it previously announced on Sept. 17.The company said it made its decision following Nasdaq Stock Market Inc.'s announcement that it suspended the $1 minimum bid price requirement for continued trading on the...
WATERLOO, Canada—Research In Motion Ltd. announced earnings in line with many analyst expectations, but lowered its forecasts for the future due to a troubled economy, slow rollouts of GPRS networks and the "weakened financial condition of Motient Corp."RIM reported revenue for the second quarter...
WOBURN, Mass.—Cerylion Inc. announced it has been awarded $5 million in series B convertible preferred funding, led by Chestnut Partners Inc. Cerylion said it will use the funding for continued development of its wireless offering and to expand sales efforts.The company plans to launch...
CUPERTINO, Calif.—Wireless communications product developer Tropian Inc. has closed $45 million in Series D equity funding, its largest funding round to date. Merrill Lynch Ventures LLC led the financing and several other investors also contributed. "As the wireless industry moves forward in development of...
SAN RAMON, Calif.—MobileWay Inc. announced it has received $27 million in its second round of venture funding.This funding, which adds to the $9 million secured in the company's first round, was led by Mayfield and also includes 3I, Investcorp, Citigoup and Vertex Management."MobileWay has...
TORONTO—Nortel Networks has slashed 20,000 jobs as it announced that it expected a $3.6 billion third-quarter loss, bringing its total loss for the current fiscal year to $20 billion.The new job cuts, which follow previous reductions of 30,000 positions, pares the staff to 45,000,...
TOKYO—NEC Corp. and Sony Corp. reviewed their earnings outlook and NEC announced measures to move its businesses back to profitability.Sony cut its forecast for the fiscal year from $7 billion in to $84 million, while NEC cuts its outlook from $1.7 billion to $250...
OKLAHOMA CITY-Dobson Communications Corp. declared an in-kind dividend on its outstanding 13 percent senior exchangeable preferred stock. Shareholders will receive 0.03322 additional shares for each share held as of Oct. 15.
SANTA CLARA, Calif.—Air Prime Inc. said it raised $40 million in a series C round of equity financing.The investment was led by RBC Capital Partners Telecom Fund and includes investments from Qualcomm Inc., GE Equity, LibertyView Equity Partners, NB Capital Venture Partners, Omninet Capital,...
WASHINGTON—The Securities and Exchange Commission on Thursday settled a fraud case against a wireless equipment manufacturer, former officials of the company and its auditors. Litigation against Vari-L Co. Inc.'s former chief executive officer and former controller is still pending.While Vari-L did not admit to...
BOSTON—The Yankee Group predicts that wireless infrastructure spending will increase from $99.4 billion in 2001 to a maximum of $120.2 billion in 2004 before declining to $114.6 billion in 2006, according to its new study, "Infrastructure Capex: How much will it cost, and which...
MCLEAN, Va.—LCC International Inc., a provider of wireless voice and data turn-key technical consulting services, said it sold all of its approximately 1.6 million class B common shares of NextWave Telecom Inc. and its current debt claims against NextWave, excluding the claims of Koll...
TORONTO—Non-line-of-sight fixed wireless equipment provider WaveRider Communications Inc. announced a restructuring plan under which the company arranged for new short-term financing, initiated a shareholders rights offering for longer term financing and implemented immediate staff reductions.WaveRider said it has commitments for the purchase in excess...
WASHINTON, D.C.—InPhonic Inc. announced it has closed a $19 million in Series D capital financing round led by Core Capital Partners.InPhonic plans to use the funding to expand its business and to acquire technology companies that will complements its existing products and services. In...
NEW YORK—Millicom International Cellular S.A. sold its 24.5 percent stake in Indian cellular operator SkyCell Communications Ltd. to Bharti Tele-Ventures Ltd."The selective sale of our non-core assets, including the ones in which we have a minority stake, will provide the necessary funds for Millicom...
GREENWOOD VILLAGE, Colo.—Ciber Inc. said it successfully completed its acquisition of Aris Corp., a consulting services firm out of Bellevue, Wash.According to the merger agreement, the purchase price is $1.30 plus 0.1937 Ciber shares for each Aris share. This represents a total value of...
MALAGA, Spain—ITS Networks Inc. said that following intense examination, it plans to refocus its investment and expansion strategy and has postponed its acquisition of controlling interests in WestEnd Communications Inc. and 4SiteInternet. The company said it will instead concentrate on continuing to develop its...
REDWOOD SHORES, Calif.—Oracle Corp. released its earnings report on schedule Thursday but without comment. The company said it is missing seven employees in the World Trade Center in New York and that one employee, sales account manager Todd Beamer, 32, was killed when hijacked...
NEW YORK—Citing plans by TeleCorp PCS Inc. to deploy a "GSM overlay network in the near future" at the same time as its cash flow growth has slowed, Moody's Investors Service Inc. reaffirmed the speculative grade rating of B2 on the carrier's $2.92 billion...
MONTREAL—Telesystem International Wireless Inc. (TIW) said the holders of its senior discount notes due 2007 have tendered 99.9 percent of the outstanding notes in exchange for a combination of cash and new 14-percent senior guaranteed notes due December 30, 2003.The total principal amount of...
