Airvana Inc. reported fourth-quarter revenues of $47.7 million, down from revenues of $63.3 million for the fourth quarter of 2008. Net income for the quarter was $13.1 million, or 19 cents per share, compared with net income of $24.8 million, or 36 cents per share, for the same period last year.
American Tower Corp. said its revenues increased 9.7 percent to $448 million from $408 million during the fourth quarter of 2008. Net income for the quarter was $64.4 million, or 16 cents per share, compared with net income of $85.8 million, or 21 cents per share, for the fourth quarter of 2008.
Clearwire reported revenues of $79.9 million for the fourth quarter, an improvement from revenues of $59.7 million during the fourth quarter of 2008. The company reported a loss of $98.7 million, or 55 cents per share, for the quarter. That compares with a loss of $118 million, or 46 cents per share, for the same period last year.
InterDigital said its revenues for the fourth quarter were $76 million, up from revenues of $58.7 million reported during the previous fourth quarter. Net income for the quarter was $39 million, or 89 cents per share, compared with net income of $4 million, or 9 cents per share, during the fourth quarter of 2008.
Leap Wireless reported revenues for the fourth quarter of $599.3 million, up from revenues of $518.9 million for the previous year’s fourth quarter. Net loss for the quarter was 64 million, or 82 cents per share, up from net loss of $54.6 million, or 82 cents per share, for last year’s fourth quarter. Leap also said it settled a securities class-action lawsuit that stemmed from its 2007 restatement of certain financial statements. The settlement includes a payment to plaintiffs in the amount of $13.75 million.
MetroPCS Communications Inc. said its revenues for the fourth quarter were $930 million, up from revenues of $724 million for the fourth quarter of 2008. Net income was $33 million, or 9 cents per share, compared with net income of $15 million, or 4 cents per share, for the same period last year.
Nokia said it transferred about 537,000 shares it previously held to 375 participants in its equity-based incentive plans as settlement in accordance with the plan rules.
Novatel Wireless said its revenues increased to $88.6 million for the fourth quarter, up from revenues of $65.1 million for the fourth quarter of 2008. Net income for the quarter was $1 million, or 3 cents per share, an improvement from a net loss of $3 million, or 10 cents per share, for the corresponding quarter in 2008.
Ntelos Holdings reported fourth-quarter revenues of $133 million, down slightly from revenues of $138 million during the same quarter last year. Net income for the quarter was $14 million, or 34 cents per share, compared with net income of $4.7 million, or 11 cents per share, during the same quarter in 2008.
Numerex Corp. said its net sales for the fourth quarter were $14 million, down slightly from net sales of $15 million for the same period in 2008. Net loss for the quarter was $1.1 million, or 8 cents per share, compared with net loss of $10.7 million, or 75 cents per share, for the fourth quarter of 2008.
Palm Inc. cut its guidance for its fiscal third quarter, saying revenues should be between $285 million and $310 million on a GAAP basis. The company said revenues are being impacted by slower-than-expected consumer adoption of its products. Palm further said its fiscal 2010 revenues will likely come in below its previously forecasted range of $1.6 billion to $1.8 billion. The company is scheduled to release its third-quarter results on March 18.
Powerwave Technologies Inc. announced that it plans to reissue certain previously issued financial statements to revise the accounting treatment of its 1.875 percent convertible subordinated notes due 2024.
Qualcomm Inc. said its board of directors approved a 12-percent increase in the company’s quarterly cash dividend and it announced a new $3 billion stock repurchase program that replaces its previous $2 billion stock repurchase program. The previous program was recently completed with $1.7 billion of stock repurchased. The new stock repurchase program does not have an expiration date. The company said it will use cash on hand to repurchase stock. Qualcomm has about 1.64 billion shares of common stock outstanding.
SBA Communications Corp.’s revenues for the fourth quarter increased 7.9 percent to $145 million from $134.4 million for the previous fourth quarter. Net loss for the quarter was $43.6 million, or 37 cents per share, compared with net income of$6 million, or 5 cents per share, during the same period last year.
Superconductor Technologies Inc. reported revenues for the fourth quarter of $2.2 million, up from revenues of $1.3 million for the fourth quarter of 2008. Net loss for the quarter was $3.5 million, or 16 cents per share, a slight decrease from a net loss of $3.8 million, or 21 cents per share, for the previous fourth quarter.
T-Mobile USA said its revenues for the fourth quarter were $5.4 billion, down slightly from revenues of $5.7 billion reported during the fourth quarter last year. Net income was $306 million, down from net income of $483 million during the fourth quarter of 2008.
Texas Instruments Inc. said it plans to Webcast a mid-quarter update on March 8 at 4 p.m. Central time. The Webcast will be available at the company’s Web site in the Investor Relations section.
U.S. Cellular Corp. said its fourth-quarter revenues increased 1 percent to $986 million from $977 million during the fourth quarter 2008. Net income for the quarter was $12.4 million, or 14 cents per share, compared with net loss of $200.1 million, or $2.29 per share, during the same period a year earlier.
USA Mobility, which provides messaging and communications services, reported fourth-quarter revenues of $65.4 million, down from revenues of $84.3 million for the fourth quarter of 2008. Net income was $3.6 million, or 16 cents per share, compared with $8 million, or 32 cents per share, during the same period a year earlier. The company’s board of directors also declared a regular quarterly cash distribution of 25 cents per share to be paid March 31 to stockholders of record on March 17.
Communications engineering firm WPCS International Inc. acknowledged a 13D filing made by Bryant Riley and Riley Investment Management L.L.C. last week and accusations made within the filing against WPCS. A 13D filing is made when any party acquires a beneficial ownership of 5 percent or more in a public company. In the filing, Riley questions the employment extensions of top executives and requests records to investigate mismanagement. Andrew Hidalgo, chairman and CEO of WPCS, said the company believes the accusations have no merit.
Upcoming earnings reports:
PCTel March 4
FiberTower March 5
UTStarcom March 11
WPCS March 17
Palm March 18
