Tellabs Inc. said its first-quarter net profit plummeted 51 percent and revenues fell 12 percent as the company suffered decreased sales of its broadband and access products.The Naperville, Ill.-based equipment provider reported quarterly revenue of $452 million, down from $515 million during the year-ago...
Although Alcatel-Lucent warned of lower revenues and an operating loss for the first quarter, it appears that investors had expected worse as the company's stock rose more than 5 percent on its announcement to $13.22 per share. The firm blamed much of its first-quarter...
Texas Instruments Inc. reported revenue of $3.2 billion and net profit of $516 million, down 4 percent and nearly 12 percent, respectively, over the year-ago quarter. The chip vendor said that revenue was impacted by an inventory correction in the market. "We believe the...
Clearwire Corp. unveiled a handful of operating results for the first quarter, claiming "record subscriber growth" of more than 25 percent from its year-end 2006 customer levels. Clearwire said that it ended 2006 with around 206,000 wireless broadband users and had about 258,000 users...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier Lehman Bros. raised its price target on Leap Wireless International to $85 from $50, saying it believes the company can sustain strong subscriber and...
Convergence networking technology company Mavenir Systems Inc. said it snared $20.5 million in a second round of funding.New investor Alloy Ventures led the round, and existing backers Austin Ventures and North Bridge Venture Partners also participated. Mavenir, which emerged from stealth mode last year,...
Clearwire Corp. unveiled a handful of operating results for the first quarter, claiming "record subscriber growth" of more than 25 percent from its year-end 2006 customer levels. Clearwire said that it ended 2006 with around 206,000 wireless broadband users and had about 258,000 users...
Nokia Corp. is behaving like a market leader with a thoughtful, winning strategy. The Finnish handset vendor is carefully undercutting competitors in emerging markets for volume gains-enduring a short-term lag in revenue and profit growth-and is pushing hard to position its profitable smartphones for...
Some high-profile investors are wagering on Emotive Communications Inc. and its "Push Ringer."The Encino, Calif.-based company said it pocketed $7.7 million in a funding round from Warner Music Group, Bertelsmann Digital Investments, the D.E. Shaw group and undisclosed angel investors. Emotive said it will...
InterDigital Communications Corp. updated its first-quarter guidance to reflect additional royalties identified during a routine audit conducted by the company.The company said it expects revenues to range from $67 million to $68 million, including between $57 million and $58 million of recurring patent licensing...
Wireless broadband service provider Clearwire Corp.'s stock rose briefly today as analysts issued favorable reports of the company's prospects, but later continued its downward trend. Clearwire's stock rose more than 6 percent after the favorable reports, from around $18.61 at the close of trading...
Boston Communications Group Inc.'s woes continued last week as the company said it will slash its workforce by 21 percent. The company also said it received a notice of noncompliance with listing standards from the Nasdaq Stock Market.BCGI, which develops billing and payment software...
Samsung Electronics Co. Ltd. said it shipped nearly 35 million handsets in the first quarter, posting telecom division profits-largely derived from handset sales-of $646 million. Both numbers were up nearly 30 percent over the year-ago quarter. Handset-related revenue, however, at $4.6 billion, was down...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier Prudential Equity Group initiated coverage on Leap Wireless with an overweight rating and a $90 price target. The firm said it sees Leap as...
Wherify Wireless Inc. said it sold about $4.6 million of Series A Convertible Preferred Stock in an effort to create some financial breathing room.The developer of location-based products and services said it will use the net cash proceeds of about $4 million for general...
Shares of Sprint Nextel Corp. inched upward following a Wall Street Journal report that shareholder Ralph Whitworth is pushing for major changes at the carrier.Whitworth has quietly accumulated about half a billion shares in the wireless industry's No. 3 operator, or nearly 1 percent...
The perversity of Wall Street came into focus after Research In Motion Ltd. delivered solid fourth-quarter fiscal 2006 earnings yesterday that were still below some expectations. It's all about emotion and overblown expectations, it seems.Investors apparently had already driven up the price of RIM's...
Shares of Intrinsyc Software International Inc. dipped after the developer of mobile software reported a second-quarter net loss of $3.76 million.Intrinsyc, which is based in Vancouver, British Columbia, said revenue edged up $4.37 million during the quarter, marking a slight increase over $4.2 million...
AirTight Networks Inc. announced it secured an additional $14.5 million in its latest round of venture capital funding, bringing the business' total VC investment to $36.7 million.The third round of financing was led by CMEA Ventures with all previous investors also participating, according to...
U.S. Cellular Corp. said it has reached an agreement to purchase its common shares from Citigroup Global Markets Ltd. as part of a stock repurchase plan announced earlier.The accelerated share repurchase agreement calls for the carrier to buy 670,000 shares from Citigroup for about...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.OtherCredit Suisse First Boston revised its estimates on NeuStar after the company pre-announced in-line first-quarter revenue and EPS figures. Its new estimates are $1.33 per...
Investors appeared pleased with preliminary financial results announced by NeuStar Inc., which offers clearinghouse services to wireless carriers and others, as well as a shakeup in the company's senior executive team.NeuStar said it expects revenue from $96.5 million to $97.5 million in the first...
Shares of Veraz Networks Inc. dipped after the company's initial public offering raised $72 million at a price below its forecast range.Veraz opened at $8 per share, in line with its offering, but substantially lower than the $10 to $12 per-share forecast range. And...
Shares of InPhonic Inc. slid after the company said it will restate results for the second and third quarters of 2006 due to accounting errors.The company, in a filing with the Securities and Exchange Commission, said it had mistakenly recorded "certain disputed carrier commissions"...
