SAN JOSE, Calif.-Netro Corp. reported revenues for the second quarter ended June 30 of $2.1 million, drastically less than the $15.5 million reported for second-quarter 2000.
The company had a net loss of $29.8 million, or 57 cents per share, compared with a net loss of $819,000, or 2 cents per share, for the same period last year.
“Our performance during this period continues to be a reflection of the global slowdown in telecommunications equipment spending,” said Gideon Ben-Efraim, chairman and chief executive officer of Netro.
He said the company had a cash balance of $337 million at the end of the quarter, which will help Netro weather the turbulent times going forward.
