NextWave Wireless Inc. said the Nasdaq Listing Qualifications Panel granted the company’s request for continued listing on the Nasdaq Global Market. The approval requires NextWave to file a proxy statement by May 1 seeking shareholder approval for implementation of a reverse stock split. In addition, the company must reach a closing bid price of $1 or more for a minimum of ten consecutive days by July 21.
Russian carrier Mobile TeleSystems said its revenues for the fourth quarter were $2.7 million. Net loss for the quarter was $26 million.
Research In Motion Ltd. reported financial results for its fourth fiscal quarter, which ended Feb. 27. The company said revenues grew 18% to $4.08 billion from $3.46 billion during the previous fourth quarter. Net income for the quarter was $710.1 million, or $1.27 per share, compared with net income of $628.4 million, or $1.10 per share, during the same quarter last year.
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Capital Markets: NextWave asks for continued stock listing
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