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Capital Markets: Novatel buys Enfora; Brightpoint expands share repurchase; and more

Novatel Wireless Inc. entered a definitive agreement to acquire privately held Enfora Inc., which provides asset-management solutions that use wireless technology and machine-to-machine communications. The deal is valued at $64.5 million in cash, with a possible additional consideration of up to $6 million based on performance targets.
Brightpoint Inc.‘s board of directors approved an increase of the company’share repurchase plan by an additional $25 million to an aggregate of $130 million. The company also reported third-quarter results that included revenues of $889 million, an increase of 3% over revenues of $865.7 million during last year’s third quarter. Net income was $9.8 million, or 14 cents per share, compared with net income of $11.2 million, or 13 cents per share, reported during the corresponding period last year.
MetroPCS Wireless Inc. priced a public offering of $1 billion of 6.625% senior notes due 2020. The offering is scheduled to close Nov 17. The company said it will use proceeds of the offering to redeem all outstanding 9.25% senior notes due 2014 and for general corporate purposes
NTELOS Holdings Corp. filed a universal shelf registration statement, which allows the company to offer and sell up to $300 million of securities. The company said it has no immediate plans to offer securities under the shelf registration, but the registration gives it the flexibility to take advantage of financial opportunities as they arise.
Leap Wireless International Inc. announced plans to commence a private placement offering of $1.2 billion in senior notes due 2020. The company said it will use proceeds of the offering to repurchase outstanding senior notes due 2014, with any remaining proceeds to be used for working capital.
Telular Corp. declared a special one-time cash dividend of $1 per share on its common stock and a regular quarterly dividend of 10 cents per share. Both dividends will be payable Nov. 22 to shareholders of record on Nov. 15. The company also reported results for its fourth fiscal quarter of 2010, which ended Sept. 30. Revenues for the quarter were $12 million, down from revenues of $12.2 million during the corresponding period a year ago. Net income for the quarter was $1.37 million, or 9 cents per share, compared with net income of $1.4 million, or 9 cents per share, during the same period last year.
UTStarcom reported third-quarter financial results, including net sales of $61.4 million, which was a decrease of 12.9% from sales of $70.5 million during the third quarter of 2009. Net loss for the quarter was $17.2 million, or 13 cents per share, compared with a net loss of $34.6 million, or 27 cents per share, during the same period last year.
Sierra Wireless reported revenues of $172.7 million, up 27% from revenues of $135.7 million during the same period last year. Net income was $700,000, or 2 cents per share, compared with a net loss of $7.6 million, or 25 cents per share, during last year’s third quarter.
Clearwire said its third quarter revenues more than doubled to $147 million, from $68.8 million during last year’s third quarter. Net loss for the quarter was$564.6 million, or 58 cents per share, compared with a net loss of $305.4 million, or 42 cents per share, during the corresponding period last year.
TeleCommunication Systems reported revenues of $102.9 million for the third quarter, an increase of 44% from revenues of $71.6 million during the same period last year. Net income for the quarter was $4.3 million, or 8 cents per share, compared with net income of $5.4 million, or 10 cents per share, during last year’s third quarter.
EMS Technologies reported revenues of $85.7 million for the third quarter, which was the same as the third quarter last year. Net income for the quarter was $3.5 million, or 23 cents per share, compared with net income of $5.3 million, or 34 cents per share, during the corresponding period last year.

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