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Novatel Wireless to beat previous 1Q guidance

SAN DIEGO-Novatel Wireless Inc. said it expects to beat its previous guidance for the first quarter of this year with revenues of approximately between $14.8 million and $15.1 million.

The company had originally anticipated between $12 million and $13 million in revenues.

Novatel said it will represent a more than 40-percent sequential increase from $10.6 million reported in the fourth quarter of last year and a 95-percent increase over the year-ago period.

“We expect to report gross margins of above 28 percent and, despite an expected increase in R&D spending in absolute dollars in connection with the development and launch of our 3G products, we expect solid increases to operating income as well as positive GAAP net income,” said Peter Leparulo, Novatel’s chief executive officer.

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