SAN JOSE, Calif.-Netro Corp. reported its revenues for the second quarter ended June 30 will be around $2 million, significantly less than the $15.5 million reported for second-quarter 2000.
“Our second-quarter revenues reflect the continuing, worldwide pressure on the broadband wireless industry as a result of slower telecommunications equipment spending and reduced capital availability,” said Sanjay Khare, vice president and chief financial officer for Netro.
The weak second-quarter financial results and the continuing difficult market conditions also forced Netro to cut approximately 25 percent of its work force, leaving the company with 220 employees.
