Capital Markets: AT&T declares quarterly dividend

Editor’s Note: The following is a list of financial news and notes from the telecommunications industry announced over the past two weeks. Please send along financial news for inclusion in this feature to: [email protected].
AT&T Inc. declared a quarterly dividend of 42 cents per share on its common stock. The dividend is payable May 3 to shareholders of record on April 9.
Nokia Corp. said it signed an agreement to acquire all of the outstanding shares of Novarra Inc., which provides a mobile browser and services platform. Nokia will use Novarra’s platform to deliver enhanced Internet experiences on its mobile devices.
PEG Bandwidth, which provides backhaul solutions, said it closed equity financing of $15 million from Associated Partners L.P. The transaction included the merger of PEG Bandwidth into Wireless Infrastructure Partners L.L.C., which will do business under the PEG Bandwidth name. RBC Daniels advised PEG Bandwidth in the transaction.
Qualcomm Inc. raised its financial guidance for its second fiscal quarter, which ended March 28. Revenue is now expected to range between $2.55 billion and $2.65 billion, rather than between $2.4 billion and $2.6 billion.
Airvana Inc. reported fourth-quarter revenues of $47.7 million, down from revenues of $63.3 million for the same period in 2008. Net income for the quarter was $13.1 million, or 21 cents per share, compared with net income of $24.8 million, or 39 cents per share, for the fourth quarter of 2008. The company also reported preliminary first-quarter results, saying it expects revenues to be between $2.5 million and $3 million, compared with $9 million during the first quarter last year.
Nextwave Wireless Inc. said it entered into an Amendment and Limited Waiver to its first, second and third lien note agreements. The amendment extends the maturity dates of the notes. In connection with the amendments, Nextwave has received commitments for up to $25 million in new financing from affiliates of certain existing first lien lenders.
Palm Inc. reported its results for its fiscal third quarter, ended Feb. 26. Revenues for the quarter were $349.9 million, compared with revenues of $90.6 million for the corresponding period last year. Net loss for the quarter was $18.5 million, or 13 cents per share, compared with net loss of $95 million, or 89 cents per share, for third fiscal quarter of 2009.
Veraz Networks Inc. said it received notice from the NASDAQ Stock Market that its stock is subject to delisting because it has not met the $1 minimum bid price requirement. The company said it has requested a hearing to outline its plans to regain compliance with NASDAQ rules.
WPCS International Inc. reported results for its third fiscal quarter, ended January 31. Revenues were $27 million, compared with revenues of $25.3 million during the corresponding period last year. Net income was $71,000, or 1 cent per share, down from net income of $178,000, or 3 cents per share, for the third fiscal quarter of 2009.
Horvath Towers L.L.C. said it received a $20 million increase in equity commitment from Peppertree Capital Fund. The increase brings the company’s total funds committed to $56 million. Horvath said the funds will allow it to expand and enhance its service offerings.
Tarpon Towers L.L.C. said it received a $15 million equity commitment from private investment fund Spire Capital Partners. As part of the Spire transaction, Andrew J. Armstrong, Jr., Managing Member at Spire Capital, will join Tarpon’s Board of Directors. Tarpon owns 85 towers located in 14 states including Florida, North Carolina, Georgia, Mississippi, Texas, Michigan, Connecticut, New York and California. The Company has over 200 new build sites in development and 25 tower sites under letter or purchase agreement throughout the US. Tarpon plans to continue to work with local tower owners and developers to expand its communications tower portfolio.