Transcrypt International Inc. announced Aug. 6 a net loss of $5 million, or 39 cents per share, for the second quarter, which ended June 30. Revenues for the latest quarter totaled $13.9 million, way above the $2.9 million reported for the same quarter in 1997 when the company posted a net loss of $790,000, or 9 cents per share. “During the quarter ended June 30, 1998, the company experienced declining revenues from the first quarter of 1998 and incurred substantial costs,” primarily in connection with the audit and legal fees associated with the restatement of the company’s financial statements. Transcrypt said it is “in default of the tangible net worth covenant under [its] bank credit facility … (but) has received a waiver for this default and is working with its lender to amend the credit facility.” Transcrypt also announced a plan to reduce its work force by about 25 percent.
Clearnet Communications Inc. said it added six new Mike Industrynet services that will allow Mike enhanced special mobile radio services clients to connect with other Mike-equipped clients, suppliers and business partners. The Mike Industrynet service connects members of wireless communities to each other via the Mike Direct Connect two-way radio.
L.M. Ericsson plans to supply a wideband Code Division Multiple Access system to Telecom Italia Mobile. The experimental system is scheduled to be delivered to Telecom Italia’s research and development center before the end of the year, said Ericsson. The Swedish equipment supplier also recently delivered a W-CDMA system to NTT DoCoMo in Japan, and plans to supply one to Japan Telecom later this year. Ericsson also plans to equip German operators Mannesmann Mobilfunk and T-Mobil and Swedish operator Telia with similar systems. Ericsson has had its own live W-CDMA test bed since 1995, said the company.