Comverse Technology Inc. said it eliminated the interim chief executive position and promoted its chief administrative officer to the post of chief operating officer, while also naming five new independent directors.The Manhattan-based maker of voicemail software is trying to move forward after a stock...
NEW YORK-The troubles continue to mount for wireless technology provider Comverse Technology Inc., as the company announced it identified errors in the "recognition of revenue related to certain contracts, errors in the recording of certain deferred tax accounts and the misclassification of certain expenses...
PLAINFIELD, Ind.—Investors applauded Brightpoint Inc., sending the company’s stock up more than 15 percent, after the mobile phone distributor posted third-quarter profits and revenues that reached record levels. Brightpoint’s revenues were $633.7 million, an increase of 16 percent from revenues of $545 million during...
WASHINGTON—Online mobile phone retailer InPhonic Inc. announced a $100 million debt financing agreement with Goldman Sachs and Citigroup. InPhonic, which operates the Wirefly.com storefront, said it will use the capital to repay debt under its existing operating line of credit, fund share repurchases and...
TAMPA, Fla.—Syniverse Holdings Inc. swung to a profit in the third quarter, but the news didn’t seem to satisfy the company’s investors, who sent Syniverse’s stock down more than 3 percent to $14.24 per share. Syniverse reported a net income of $17.6 million, a...
WASHINGTON—Online wireless retailer InPhonic Inc. said its third-quarter net loss widened despite an increase in revenues. The company also announced it reached a settlement "in principle" with the District of Columbia Attorney General over a consumer-protection lawsuit that revolved around InPhonic’s use of mail-in...
TORONTO—Nortel Networks Ltd. narrowed its overall loss for the third quarter to $99 million and said that it would go ahead with a plan to consolidate its shares on a 1-for-10 basis. Nortel had reported a $136 million loss at this time last year,...
SARASOTA, Fla.—Global Signal Inc. reduced its losses but still ended up in the red for the third quarter. The company reported a net loss of $11.3 million, which is about $4 million less than the $15.4 million loss that Global Signal reported in the...
Qwest Communications International Inc. reported a profitable third quarter with net income of $194 million, reversing a $144 million loss the company reported in the same quarter last year. Further, Qwest said the penetration rate of its service bundles increased 6 percent compared with...
For mobile content players, these are either the best of times or the worst of times. Or, in some cases, both. Investment money continues to flow into wireless content and marketing. Thumbplay Inc., a direct-to-consumer aggregator, hauled in $10 million in a third round...
Trying to form a sense of the sprawling chip market for mobile phones is akin to getting a tape measure around an elephant's waist. With dozens of players and product types, the chip industry that enables the fantastic functions of today's mobile phones is...
Verizon Wireless continued its domination of the postpaid wireless market and outpaced larger rival Cingular Wireless L.L.C. in net customer additions during the third quarter.Verizon Wireless said it brought in 1.9 million net subscribers for the quarter, compared with Cingular's 1.4 million net additions....
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News. CarrierRW Baird lowered its rating on Alltel Corp. to neutral from outperform after...
REDWOOD CITY, Calif.—Shares of Electronic Arts Inc. jumped after the game-making behemoth reported increased mobile sales and surprisingly good overall quarterly revenues. The company rang up $35 million in mobile game sales, up slightly from the previous quarter’s $33 million. EA reported $784 million...
SAN DIEGO—Qualcomm Inc. reported increases in both revenues and earnings for its fourth quarter and full year, but the company warned that it is "not optimistic" that its licensing negotiations with Nokia Corp. will conclude when the companies’ current deal expires in April. Qualcomm...
EMERYVILLE, Calif.—MobiTV Inc. padded its already-thick wallet, raking in $30 million in a third round of funding and adding two new investors. Adobe Systems Inc. and Hearst Corp. became backers of the company with the latest round, which pushed MobiTV’s total investment funding to...
BELLEVUE, Wash.—InfoSpace Inc. reported a net loss for the third quarter and announced plans to halt investment in its direct-to-consumer content business, including its recently launched Moviso storefront. Instead, executives said, InfoSpace will refocus on bringing its success in online search into wireless.Shares of...
MOUNTAIN VIEW, Calif.—Mobile advertising company Rhythm NewMedia said it raised $18 million in its second round of financing. Carlyle Venture Partners led the round. As part of the financing, Allan Thygesen, managing director of Carlyle, joined Rhythm NewMedia’s board of directors.Rhythm NewMedia’s solution supports...
IRVINE, Calif.—Mobile search content provider go2 reported a "strategic alliance" with Internet publishing and marketing company Geosign Corp. that includes a $13 million investment by Geosign in go2. Beyond the financing, the two companies said they will work together to combine their respective content...
MEXICO CITY-Prepaid wireless provider TracFone Wireless Inc. reported soaring third-quarter revenues of $330 million, a 36-percent increase over its year-ago figure of $243 million. The Miami-based prepaid carrier's subscriber base grew by 41.1 percent year-over-year, from 5.1 million to 7.2 million as the carrier...
NEW YORK—Mobile content retailer Thumbplay Inc. added to its bank account with a new funding round and line of credit. The distributor of ringtones and other content hauled in $10 million in a third round of financing round led by Bain Capital Ventures and...
VANCOUVER—Wireless modem maker Sierra Wireless Inc. reported a profit for the third quarter. The company’s net income was $1.1 million, a reversal of a net loss of $3.1 million reported during the third quarter last year. The company’s net income was down, however, from...
REDWOOD CITY, Calif.—Openwave Systems Inc. said it expects a year-over-year revenue decline, news that sent the company’s stock down more than 10 percent to $8.58 per share. The company said its revenues are expected to come in at $91.2 million, which is a drop...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News. CarrierStandard & Poor’s Ratings Services lowered its corporate credit rating on Telephone &...
