InterDigital Inc. updated its financial guidance for the first quarter to reflect a new contract and an audit resolution, which will add between $37.5 million and $38.5 million to its revenues. The company previously predicted it would report revenues of between $78 million and $79 million.
Powerwave Technologies Inc. said it will retire $66 million of its existing convertible debt under privately negotiated exchange agreements. According to the agreements, Powerwave will retire $60 million in aggregate principal amount of its outstanding 1.875% convertible subordinated notes due in 2024. Holders who exchange their notes will receive $60 million in aggregate principal amount of new 1.875% convertible senior subordinated notes due 2024. The new notes extend the first put date available to holders from Nov. 15, 2011, to Nov. 15, 2013.
Mobile broadcast software company Roundbox Inc. said it acquired Jacked Inc.’s technology and intellectual property. Jacked developed a platform and applications that deliver real-time Web content synchronized to and complementing live broadcast television. The company’s technology will be incorporated into the Roundbox Mobile Broadcast Suite of products
Telular Corp. updated guidance related to sales of its Telguard product. The company said it now expects to sell between24,000 and 28,000 Telguard units during the current quarter and 12,000 to 20,000 per quarter for the next two quarters. This is a decrease from previous predictions of 30,000 to 40,000 Telguard unit sales per quarter. The company said despite this adjustment, it still expects its net income to grow during its fiscal 2010 year.
Telus said it renewed its current shareholder rights plan, which was set to expire March 20. The 2010 shareholder rights plan is similar to the previous 2000 shareholder rights plan, said the company. Telus denied the plan renewal is related to any anticipated takeover bids.
UTStarcom released its fourth-quarter results, which included net sales of $116 million, down from $241 million during the corresponding period in 2008. Net loss for the quarter was $39 million, or 31 cents per share, compared with a net loss of $81 million, or 65 cents per share, for the fourth quarter of 2008.
Veraz Networks Inc. said its revenues for the fourth quarter were $18.6 million, which was down from revenues of $26.3 million for the fourth quarter of 2008. Net loss for the quarter was $4.1 million, or 9 cents per share, compared with net loss of $861,000, or 2 cents per share, for the previous fourth quarter.
Verizon Communications Inc. said it dual-listed its common stock on the NASDAQ Global Select Market. The company continues to also trade under the VZ ticker on the New York Stock Exchange.
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