PALO ALTO, Calif.—Social network developer flipt said it snared $5 million in its first round of venture funding. Sequoia Captial and New Enterprise Associates led the financing round. The stealthy startup, which recently changed its name from Radiate, is quietly working on a location-enabled...
TORONTO—Nortel Networks Corp. released its fourth-quarter and full-year 2005 results following several delays due to the company’s financial restatements. In the fourth quarter, Nortel posted a loss of $2.3 billion due to its proposed settlement of shareholder class action litigation. "The restatements have been...
A slew of first-quarter earnings announced last week reflected a generally upbeat quarter for regional wireless carriers. U.S. Cellular Corp. relieved some pressure, having finally released operating results from the third quarter of 2005 and financial restatements dating back to 2000.U.S. Cellular reported that...
Sprint Nextel Corp. reported a mixed first quarter, with gross additions and wireless revenues up compared to the same period last year. However, merger-and-integration and marketing costs pulled down the company's earnings. Sprint Nextel said it added 1.3 million net subscribers, with the mix...
As earnings reports tumbled in, equipment vendors pointed to third-generation pricing wars and the still-not-granted 3G licenses for China's advanced network buildout as reasons for sluggish financials. Alcatel Inc. reported strong growth in its fixed-line business during the first quarter, but intense competition in...
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 said it took several rating actions on Rural...
REDMOND, Wash.—Microsoft Corp. said its Mobile and Embedded Devices unit operating loss widened during its fiscal third quarter ended March 31. The company reported a $14 million loss for the unit, an increase from the $9 million loss it reported during the same quarter...
BELLEVUE, Wash.—Shares of InfoSpace Inc. dipped after the company reported first-quarter revenue of $90 million, up 4 percent from the year-ago period. The mobile communications company and content provider topped its own forecast as well as analyst projections, reporting $3 million in net profit...
BEDFORD, Mass.—Boston Communications Group Inc. was hit hard by the ongoing defections of Verizon Wireless, Cingular Wireless L.L.C. and Alltel Corp. from its real-time billing platform, and said it would be relying heavily on Sprint Nextel Corp. for future revenues. BCGI’s net income for...
HOUSTON—The nation’s second largest tower company appears to be closing in on its losses, as Crown Castle International Corp. reported first-quarter net losses of just $6.7 million, a sharp decline form its year-ago net loss of $126.9 million. CCI’s posted site-rental revenue of $161.9...
ALEXANDRIA, Minn.—Rural Cellular Corp. unveiled preliminary first-quarter figures reflecting a large increase in roaming revenue, but the company said it lost about 7,800 subscribers including wholesaler customers during the first three months of the year. RCC’s roaming revenue topped in at nearly $31 million,...
KIRLAND, Wash.—Nextel Partners Inc. reported a strong first quarter—which will very likely be its last quarter of independent reporting since its acquisition by Sprint Nextel Corp. is expected to close in the second quarter. Nextel Partners added nearly 103,000 net new customers in the...
RESTON, Va.—Sprint Nextel Corp. reported a mixed first quarter, with gross additions up compared to the same period last year and wireless revenues up; however, merger-and-integration costs pulled down the company’s earnings. Sprint Nextel’s earnings took a hit from costs of $105 million related...
DURHAM, N.C.—Motricity is looking to expand its content business after raking in $40 million in venture capital. Advanced Equities Inc. led Motricity’s most recent round; fellow existing investors New Enterprise Associates and Technology Crossover Ventures also participated. The announcement follows July’s $30 million fundraising...
MURAY HILL, N.J.—Lucent Technologies Inc. says weakened North American wireless sales coupled with the delay in China’s third-generation network buildout caused the company’s second-quarter earnings to fall 32 percent. Lucent posted a second-quarter net income of $181 million from $2.14 billion in revenues. The...
TORONTO—Canadian telecommunications provider Rogers Communications Inc. boosted its operating revenue by 28 percent from the first quarter of 2005, results driven primarily by a nearly 36-percent growth in its wireless operations. The company noted its wireless revenues were just over $1 billion for the...
MUNICH, Germany—Taiwanese handset maker BenQ Corp. reported disappointing first-quarter results, including handset shipments of 7 million units, a 39.6-percent drop from the 11.1 million units the company shipped in the fourth quarter of 2005.Management blamed the drop in handset sales on the retirement of...
Cingular Wireless L.L.C. kicked off 2006 with a strong first quarter that exceeded analysts' expectations, including driving its churn rate down to a company-record low of 1.9 percent overall, with 1.6 percent postpaid churn. But while Cingular's postpaid average revenue per user showed growth,...
Qualcomm Inc. and Texas Instruments Inc., which dominate chip manufacturing for CDMA and GSM network and handset technologies, respectively, posted strong quarterly earnings for their latest fiscal quarters. For Qualcomm's second fiscal quarter, which ended March 26, the San Diego-based company reported net income...
EDINBURGH, VA.—Shenandoah Telecommunications Co.’s first quarter net income was boosted by a one-time tax gain, but excluding the tax gain net income was down $200,000 from last year’s first quarter. However, the company’s wireless unit posted strong growth. The Sprint Nextel Corp. CDMA affiliate’s...
STOCKHOLM, Sweden—L.M. Ericsson said its first-quarter earnings fell just below expectations for the first time in more than two years as the company absorbed integration costs after buying Marconi Corp.’s assets for $2.1 billion last October. Ericsson reported first-quarter net income of $609 million...
NEW YORK—Slow mobile-phone sales continue to plague RadioShack Corp. as the company reported an 85-percent plunge in first-quarter profits. The consumer electronics retailer said first-quarter income fell to $8.4 million, down dramatically from $55 million during the same period last year. Write-downs connected with...
MOUNTAIN VIEW, Calif.—VeriSign Inc.’s direct-to-consumer mobile content business continues to erode. The company reported $77 million in revenues from its Jamba and Jamster businesses during the first quarter, down 32 percent from the fourth quarter of 2005. While the decline in revenue was expected—the...
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 placed UbiquiTel Inc. on CreditWatch with positive implications...
