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Sierra Wireless Reports Second Quarter 2003 Results
VANCOUVER, BRITISH COLUMBIA, Jul 17, 2003 (CCNMatthews via COMTEX) -- Sierra
Wireless, Inc. (NASDAQ: SWIR, TSX: SW) is reporting better than expected second
quarter results, including revenue of $20.7 million, net earnings of $0.9
million and positive cash flow.
"We are pleased to report that, for the fourth quarter in a row, we grew
revenues over the comparable quarter, were profitable and generated positive
cash flow. The AirCard product line and sales in the United States, Europe and
the Asia-Pacific region each contributed significantly during the second
quarter", said David Sutcliffe, Chairman and Chief Executive Officer. "Looking
ahead, we plan to complete the AirPrime acquisition and business integration. We
expect overall economic and industry conditions to continue to be challenging.
Our business operating premise is profitable growth and our priorities remain
expansion of our distribution channels, sell through to end customers and
investment in new products for future growth."
Our results are reported in US dollars and are prepared in accordance with
United States generally accepted accounting principles. During the second
quarter of 2003, we received and recorded an unexpected additional recovery of
$0.3 million from Metricom. During the second quarter of 2002, we recorded
restructuring and other charges of $36.1 million. Our results, where described
as adjusted, exclude these amounts.
Results for the second quarter of 2003, relative to company guidance provided on
April 24, 2003:
Second quarter revenue for 2003 of $20.7 million was better than our guidance
range of $19.0 to $20.0 million. Gross margin was 40.3%, better than our
guidance of approximately 39.0%. Our adjusted operating expenses were $7.8
million, higher than our guidance range of $7.4 to $7.6 million. Our adjusted
net earnings of $0.6 million, or diluted earnings per share of $0.04, were
better than our net earnings guidance range of $0.1 to $0.3 million, or diluted
earnings per share of $0.01 to $0.02. We had a positive cash flow of $0.5
million that was better than our guidance of neutral cash flow.
Results for the second quarter of 2003, compared to the second quarter of 2002:
Our revenue for the second quarter of 2003 increased by 22.4% to $20.7 million
from $16.9 million for the same period in 2002. Adjusted gross margin improved
to 40.3% from 37.1%. Adjusted operating expenses declined to $7.8 million from
$10.0 million. Second quarter adjusted earnings for 2003 increased to $0.6
million or diluted earnings per share of $0.04, compared to an adjusted loss of
$3.0 million or loss per share of $0.18.
Results for the second quarter of 2003, compared to the first quarter of 2003:
Our revenue for the three months ended June 30, 2003 amounted to $20.7 million,
compared to $20.1 million in the first quarter of 2003, an increase of 2.8%.
Gross margins were $8.3 million or 40.3% in the second quarter of 2003, compared
to $7.9 million or 39.5% in the first quarter of 2003. Our gross margin
percentage improved compared to the previous quarter due to a greater percentage
of sales coming from our 2.5G AirCard products as well as product cost
reduction.
Adjusted operating expenses were $7.8 million, compared to $7.6 million in the
previous quarter. This increase is a result of decreased funding from our
research and development funding agreements compared to the previous quarter.
Our gross research and development investments were $3.1 million in both
quarters.
Our adjusted net earnings were $0.6 million for the three months ended June 30,
2003, compared to $0.4 million for the three months ended March 31, 2003. Our
adjusted diluted earnings per share were $0.04 for the second quarter of 2003,
compared to diluted earnings per share of $0.02 for first quarter of 2003.
Acquisition of AirPrime, Inc.
On June 16, 2003, we announced a definitive agreement to acquire AirPrime, Inc.,
a privately-held, leading supplier of high-speed CDMA wireless products located
in Carlsbad, California. The combined entity is expected to be a well-positioned
market leader with a broad product line, innovative engineering, blue chip
customers, global channels and a strong balance sheet. We expect the combination
to close during August.
Changes to Supply Chain
During the quarter, we implemented significant changes to our supply chain.
These included the transfer of global fulfillment and CDMA product manufacturing
to Flextronics. By using their fully integrated supply chain services, we expect
to reduce product costs, improve alignment with our increasingly international
customer base and achieve increased operating efficiencies and scalability. We
expect to purchase finished goods closer to the time of shipment to our
customers, reducing our working capital requirements associated with carrying
inventory.
Previously, fulfillment services were provided by Globalware while CDMA
production was handled by SCI-Sanmina. We continue to have GSM production at
Solectron and CDPD and specialty production at Creation Technologies.
Second Quarter Highlights Included:
- We signed a distribution agreement with Panasonic Canada Inc, a division of
Matsushita Electric Industrial Co., Ltd. of Japan, one of the world's largest
producers of electronics and electric products for consumer, business and
industrial use. Under the agreement, Panasonic will distribute our next
generation product line, including CDMA2000 1X and GSM/GPRS products, through
its value added reseller channels in Canada.
- Together with Citrix Systems, Inc. and Zumasys, Inc., we announced that
Momentum Group, a leading supplier of contract textiles, has equipped its North
American sales force with a complete mobile solution that included Panasonic
Toughbooks, Citrix MetaFrame XP(TM) Presentation Server and the Sierra Wireless
AirCard(R) 550 and AirCard 555. This new implementation gives Momentum's sales
representatives wireless access to critical business applications, improving
response time and overall customer satisfaction.
- Together with IBM, we announced a bundled wireless solution using the Sierra
Wireless AirCard 750, a wireless wide area network PC Card, combined with the
IBM ThinkPad T40 notebook series, a high-end notebook computer with built in
wireless local area network functionality. IBM chose the AirCard specifically
for its high performance wide area wireless capabilities and for its ability to
enhance an end-to-end mobile solution.
- We announced the commercial availability of the MP 750, the first of our next
generation MP ruggedized wireless modems, across North America and Europe. The
next generation MP Series, built for extreme environments and industries that
require an in-vehicle mobile solution, will include both the MP 750 for GSM/GPRS
networks, and the MP 555 for CDMA2000 1X networks. The MP 555 is expected to be
launched later this year.
- We announced that the Mesquite Police Department in Texas is the first police
force in North America to implement the MP 750 to protect its community while
patrolling over 377 miles of arterial and residential streets. The next
generation wireless data solution was chosen specifically for its unique
security features and its ability to provide faster access to mission critical
information.
- We appointed Charles E. Levine, formerly of Sprint PCS, to our Board of
Directors. Mr. Levine has more than 25 years of experience in building
businesses for some of North America's largest companies. Mr. Levine's expertise
in business strategy, marketing and sales will be invaluable to our team.
Voluntary Option Surrender Initiative
During the second quarter, we instituted and completed a voluntary Employee
Stock Option Plan ("ESOP") surrender initiative. The objective of the ESOP is to
enable us to recruit, retain and motivate participants to increase the value of
our company on a sustainable basis. The objectives of the ESOP surrender
initiative are to have deeply "under water" stock options returned to the pool
now, rather than having them expire unexercised some time in the future, and to
enable us to operate the ESOP within the existing number of options that have
already been approved by shareholders. Surrenders by employees, officers and
directors were voluntary. The company had approximately 3.2 million net options
authorized, with 2.5 million issued and 0.7 million available for issuance.
Options with an exercise price below Cdn$20.00 were not eligible for surrender.
Of the 2.5 million issued, there were approximately 1.0 million eligible for
surrender. Of the eligible options, approximately 0.7 million were surrendered,
with exercise prices ranging from Cdn.$20.46 to Cdn.$212.00.
We do not intend to reprice existing options, either immediately or through a
short-term re-issuance of the surrendered options. ESOP participants who
surrendered options are "at risk" through the loss of the vesting associated
with those options and through the uncertainty as to availability, quantity,
timing and exercise price of future grants. Directors, including David
Sutcliffe, the company's Chairman and Chief Executive Officer, are ineligible to
receive any future recognition for their participation in the surrender program.
We expect over time to reduce the size of the ESOP as a percentage of issued and
outstanding shares.
Financial Guidance
For the third and fourth quarters ending September 30, 2003 and December 31,
2003, respectively, we are providing the following guidance reflecting our
current business indicators and expectations. Inherent in this guidance is
higher than normal risk resulting from uncertainty associated with the
acquisition of AirPrime, the timing of volume shipments to channels and with the
rate of end customer adoption of newer products. All figures are estimates and
are approximations.
This guidance reflects a planning assumption that the company will commence
consolidating financial results with AirPrime on September 1st, 2003. We expect
to incur AirPrime related restructuring costs in Q3 2003 and integration costs
in both Q3 and Q4 2003. In both quarters, we expect to be profitable, excluding
the restructuring and integration costs. We expect integration activities and
costs to be substantially completed by year-end.
Q3 2003 Q4 2003
------- -------
Revenue $24 - $25 million $28 - $30 million
Gross margin 39% 38% - 39%
Operating expenses $8.4 - $8.7 million $9.8 - $10.4 million
Restructuring and
other charges $2.5 million Nil
Integration costs $1.5 million $1.1 - $1.5 million
Net earnings (loss) $(2.9) - $(3.0) million $(0.2) - $(0.3) million
Diluted earnings
(loss) per share $(0.17) $(0.01)
Net earnings (loss),
excluding restructuring
and integration costs $0.9 - $1.0 million $0.8 - $1.3 million
Diluted earnings (loss)
per share, excluding
restructuring and
integration costs $0.05 - $0.06 $0.04 - $0.06
Cash flow Neutral, excluding Neutral
cash costs related
to the acquisition
Management Retirement
Peter Roberts, CFO, has determined that he will be retiring from the company in
February, 2004. To allow for an orderly transition, the company has engaged Korn
Ferry to assist with the executive search for his replacement. Mr. Roberts
joined Sierra Wireless in January, 1999 and has been instrumental in helping the
company become a leading wireless solutions company.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and
uncertainties. These forward-looking statements relate to, among other things,
plans and timing for the introduction or enhancement of our services and
products, statements about future market conditions, supply conditions, channel
and end customer demand conditions, revenues, gross margins, operating expenses,
profits, and other expectations, intentions, and plans contained in this press
release that are not historical fact. Our expectations regarding future revenues
and earnings depend in part upon our ability to develop, manufacture, and supply
products that we do not produce today and that meet defined specifications. When
used in this press release, the words "plan", "expect", "believe", and similar
expressions generally identify forward-looking statements. These statements
reflect our current expectations. They are subject to a number of risks and
uncertainties, including, but not limited to, changes in technology and changes
in the wireless data communications market. In light of the many risks and
uncertainties surrounding the wireless data communications market, you should
understand that we cannot assure you that the forward-looking statements
contained in this press release will be realized.
About Sierra Wireless
Sierra Wireless, Inc. is a global leader in delivering highly differentiated
wireless solutions. Sierra Wireless develops and markets the AirCard(R), a
wireless PC Card for portable computers, OEM modules for embedded applications,
and rugged vehicle-mounted wireless systems. Sierra Wireless is the founding
member of the WirelessReady(TM) Alliance, a partnership of industry-leading
hardware, software, and service companies committed to the delivery of complete
and compelling wireless data solutions. For more information on Sierra Wireless,
visit our web site at www.sierrawireless.com.
"AirCard" and "WirelessReady" are registered trademarks of Sierra Wireless, Inc.
All other trademarks or service marks in this news release are the trademarks or
service marks of their respective owners.
Conference Call and Instant Replay
We will host a conference call to review our results on July 17, 2003 at 2:30 PM
PDT, 5:30 PM EDT. To participate in this conference call, please dial the
following toll free number approximately five minutes prior to the commencement
of the call:
1-888-458-1598 Passcode: 38226#
Should you be unable to participate, Instant Replay will be available for three
business days following the conference call by dialing:
1-877-653-0545 Passcode: 175600#
We look forward to having you participate in our call.
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China Unicom to Deploy Alvarion Broadband Wireless Solutions in Seven Chinese Cities; Secured Through Alvarion's Partners Datang and BISC
WEDNESDAY, JULY 23, 2003 7:02 AM
- BusinessWire
TEL AVIV, Israel, Jul 23, 2003 (BUSINESS WIRE) -- Alvarion Ltd. (ALVR) , the leading provider of wireless broadband solutions worldwide, today announced that its market-leading wireless broadband solutions have been selected by China Unicom Ltd. (CHU) , a large telecom operator and the second largest cellular communications operator in China, as the basis for high-performance Broadband Wireless Access (BWA) networks to be deployed in seven Chinese cities by Alvarion's local partners Datang and BISC.
China Unicom found Alvarion's WALKair(TM) 1000 Broadband Multiservice Platform to be perfectly-suited for the demands of its UniONE broadband service since the WALKair(TM) supports TDM legacy voice, data and multimedia services including videoconferencing. Due to the sheer size of the Chinese market, these installations have the potential of being one of the largest BWA deployments in the world
"China has long represented a significant potential opportunity for Alvarion. Now, as Broadband momentum within the region grows, the importance of Chinese market for Alvarion grows as well," said Zvi Slonimsky, CEO of Alvarion. "The selection of our solutions over those of our competitors is an important validation of our technology. Having won tenders with China's two largest mobile operators, we have established clear leadership in this strategic market and, through our excellent partnerships we are well-positioned to expand our presence throughout the region."
China Unicom is the second largest mobile carrier in China. Recognizing the potential to leverage its vast operations as a base for launching complementary Broadband Internet Access services, China Unicom secured licenses to operate 3.5GHz networks across the country, and initiated a vendor selection process. After extensive technical evaluations and negotiations, China Unicom selected Alvarion-based solutions for BWA network deployments in seven different cities of Tianjin, Xining, Huhehaote, Nanning, Dalian, Changsha, and Zhengzhou.
"Like so many developing regions in the world, China lacks the wireline infrastructure needed to meet the growing demand for Broadband," continued Mr. Slonimsky. "Economical and easy to install, BWA is the ideal high-performance solution to address the needs of these regions. Deployment is particularly inexpensive for mobile carriers, who use existing cellular towers as a platform for BWA base stations. This makes it extremely cost-effective for them to launch revenue-generating Internet access services.
"We believe that BWA can become an important part of China's evolving broadband infrastructure. With the right solutions, proven partners, and established market leadership, we believe that China will become a major driver of Alvarion's future growth."
About China Unicom
With more than 59 million cellular subscribers as of December 31, 2002, China United Telecommunications Corporation ("China Unicom") is one of Mainland China's two leading cellular communications operators. Established in 1994, China Unicom operates GSM and CDMA networks in 21 provinces, municipalities and autonomous regions throughout China. It also operates GSM international roaming services with 118 operators in 67 countries and regions, and CDMA international roaming services with 7 operators in 7 countries and regions. In addition, China Unicom provides IP telephony and other services in all of Mainland China's 337 regions.
China Unicom's shares are listed on the New York Stock Exchange, the Stock Exchange of Hong Kong, and China's domestic stock exchange. Its major shareholder is the Unicom Group, which holds approximately 77% of the shares of the Company indirectly through subsidiaries. The remaining shares are held by the public. For more information, visit www.chinaunicom.com.hk
About BISC
Beijing International Switching System Corporation Limited (BISC) is a high-tech joint venture between SIEMENS and Chinese enterprises. The company focuses on the marketing and manufacturing of EWSD switching systems, broadband access product (Xpresslink), Next Generation Network solutions (SURPASS) for convergence of voice and data services, IP Routing (Juniper) and Broadband Wireless Access (Alvarion) for the fast developing China telecommunications market. BISC had been formally recognized as one of the 500 Largest Industry Enterprises in China, Top 100 Enterprises of Electronic Industry, and Top Ten Foreign Invested Industrial Enterprises of the Beijing Municipality. For more information visit www.bisc.com.cn
About Datang
Established in August 1998 and traded on the Shanghai Stock Exchange, Datang Telecom Technology Co. Ltd. is the former China Academy of Telecommunications Technology, which converted to a stock company after forty-three years of operations. Datang provides different services for the largest telecommunications operators in China and is one of China's largest local telecommunications integrators and equipment suppliers. With over 4,600 employees, Datang has research centers, five subsidiary companies, four stock companies and two share companies, as well as a company that has direct ownership relations with other companies and institutions in the Ministry of Information Industry of China. For more information visit www.catt.ac.cn/english/
About Alvarion
Alvarion is dedicated to delivering seamless wireless broadband networking infrastructure to carriers, ISPs and private network operators, in order to leverage their broadband opportunities into sustainable profits. Alvarion offers premier wireless broadband solutions for access in the last mile, backhauling connection to the backbone and private network connectivity. Featuring the industry's most extensive range of products and international support, Alvarion is a pioneering leader of the converged wireless broadband network. With over 1.5 million units deployed in 120 countries worldwide, Alvarion provides secure rich-media networks for business or residential Internet access, corporate VPNs, cellular base station feeding, community interconnection, public safety connectivity and extended Hotspots.
Having recently acquired InnoWave's wideband access portfolio and expertise, Alvarion provides a complete wireless solution that supports a wide range of frequency bands, customer profiles and service types.
For more information, visit Alvarion's World Wide Web site at www.alvarion.com
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Alvarion's management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; as well as the inability to establish and maintain relationships with commerce, advertising, marketing, and technology providers and other risks detailed from time to time in filings with the Securities and Exchange Commission.
Information set forth in this press release pertaining to third parties has not been independently verified by Alvarion and is based solely on publicly available information or on information provided to Alvarion by such third parties for inclusion in this press release. The web-sites appearing in this press release are not and will not be included or incorporated by reference in any filing made by Alvarion with the Securities and Exchange Commission which this press release will be a part of.
You may register to receive Alvarion's future press releases or to download a complete Digital Investor Kit(TM) including press releases, regulatory filings and corporate materials by clicking on the "Digital Investor Kit(TM)" icon at www.kcsa.com.
SOURCE: Alvarion
Alvarion
Dafna Gruber, +972 3 645 6252
dafna.gruber@alvarion.com
http://www.businesswire.com
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Gruss E.
AT&T Wireless (AWE: news, chart, profile) jumped more than 9 percent after the No. 3 U.S. wireless operator said second-quarter profit surged as the company added nearly a half-million new customers. The company earned $222 million, or 8 cents a share, up from $19 million, or 1 cent, a year ago. Results beat the 4-cent profit expected by analysts surveyed by Thomson First Call. Sales rose 6.3 percent to $4.16 billion. See full story.
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Wenn NVTL und SWIR so weiterrennen.....
Gruss E.
| MICC |
| Last Trade | 36.75 | Volume | 49,363 |
| Change | +0.04 | Avg Volume | 65,076 |
| Bid / Ask | 0.01 / 36.75 | Mkt Cap (mil) | $598.55 |
| Open | 36.71 | P/E | N/E* |
| Prev Close | 36.71 | Div Yield | N/A |
| Day's Range | 36.05 - 38.01 | Annual Div/Sh | None |
| 52-wk Range | 0.75 - 37.37 |
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wie Montag die Zahlen werden.
Gruss E.
Wireless Facilities Announces Date for Second Quarter 2003 Results and Conference Call
WEDNESDAY, JULY 16, 2003 4:06 PM
- PR Newswire
SAN DIEGO, Jul 16, 2003 /PRNewswire-FirstCall via COMTEX/ -- Wireless Facilities, Inc. (WFI) (WFII) , a global leader in the design, deployment and management of wireless telecommunications networks, will publish financial results for the second quarter of 2003 on Monday, August 4, 2003, at 1:05 p.m. Pacific Time (4:05 p.m. Eastern Time). A live conference call will begin at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). To access the call, please dial (212) 346-6399. To ensure your participation, the Company suggests that you dial in 5 to 10 minutes prior to the scheduled start time. The call will also be webcast and can be accessed at WFI's website at www.wfinet.com.
A replay of the call will be available from 3:30 p.m. Pacific Time on August 4, 2003 through 3:30 p.m. Pacific Time on August 6, 2003 by dialing (800) 633-8284 (Reservation #21154405).
Financial and statistical information to be discussed in the conference call will be posted on the Company's Investor Relations website at www.wfinet.com.
About Wireless Facilities
A global leader in telecommunications outsourcing, Wireless Facilities, Inc. designs, deploys and manages wireless networks for some of the largest cellular and PCS carriers and equipment suppliers worldwide. Specializing in network architecture and dimensioning of mobile and high speed wireless data systems, including third generation (3G) networks, WFI provides a complete range of network services -- from business and market planning to RF engineering, fixed network engineering, IP and data engineering, site acquisition and development, installation, optimization and maintenance. Headquartered in San Diego, WFI has performed work in over 100 countries since the Company was founded in late 1994. The Company has offices in Dallas, Chicago, Seattle, Reston, Montvale, London, Gothenburg, Stockholm, Mexico City, Sao Paulo, and Beijing. News and information are available at www.wfinet.com.
Investor/Media Contact: Gina Aven, Director, Investor Relations of Wireless Facilities, Inc., +1-858-228-2589, gina.aven@wfinet.com
SOURCE Wireless Facilities, Inc.
Investor/Media, Gina Aven, Director, Investor Relations of
Wireless Facilities, Inc., +1-858-228-2589, gina.aven@wfinet.com
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Verizon Wireless Selects Smith Micro to Build Wi-Fi Software Connectivity Solution New Multi-Year Agreement Expands Existing Relationship Between Smith Micro and Verizon Wireless
ALISO VIEJO, Calif., Aug 5, 2003 /PRNewswire-FirstCall via COMTEX/ -- Verizon
Wireless, the nation's largest wireless carrier and a leader in wireless data
solutions has selected Smith Micro Software, Inc. (Nasdaq: SMSI), to develop a
software connectivity solution that will give Verizon Wireless' mobile data
customers the power to easily access Verizon Wireless' 1xRTT Express Network and
its new Wi-Fi service.
Under the terms of the agreement, Verizon Wireless plans to include Smith
Micro's new combination client with all Express Network Mobile Office Kits and
1xRTT PC Cards sold by Verizon Wireless. The Wi-Fi client will also be made
available for download by new Verizon Wireless Wi-Fi subscribers that have
purchased a Wi-Fi device elsewhere. Verizon Wireless also plans to include Smith
Micro's QuickLink Mobile(R) PhoneBook software with all Express Network Mobile
Office Kits.
"Smith Micro's ability to respond to our needs with excellent software has
helped us deliver to our data customers easier connectivity between our
nationwide Express Network and hundreds of Wi-Fi hotspots," said Dick Lynch,
executive vice president and chief technical officer for Verizon Wireless.
"Smith Micro is excited to be working with Verizon Wireless to bring this new
service to market," said William W. Smith, Jr., president and chief executive
officer of Smith Micro. "We believe this relationship is a testament to our
ability to satisfy the wireless market place with unique, excellent software and
OEM services. Verizon Wireless-branded Wi-Fi service, combined with the
carrier's premier Express Network, will give end users high-quality, high-speed
data access nationwide."
Verizon Wireless' solutions are based on Smith Micro's QuickLink Mobile
software. The Verizon Wireless version of QuickLink Mobile will allow users to
easily connect to the company's wireless wide area networks (WWAN) and to
Verizon Wireless Wi-Fi hotspots. The Wi-Fi service Verizon Wireless announced
will be based on the IEEE 802.11 standard, which is designed to let users surf
the Internet at speeds of up to 1.544 Mbps.
Verizon Wireless offers access to Wi-Fi points in various locations in
travel-related venues such as hotels and airports.
QuickLink Mobile, is the most popular wireless data connectivity solution in the
industry and offers anytime access to email, file uploads/downloads, Web surfing
and corporate Intranets without being plugged into a network or landline modem
connection. The solution includes installation assistance that automatically
detects the mobile phone, 1xRTT PC Cards and Wi-Fi PC Cards, and sets up the
user's computer in minutes. Verizon Wireless has been distributing Smith Micro's
QuickLink Mobile data connectivity solution for the Verizon Wireless Express
Network, the carrier's 1xRTT high-speed wireless data network. Verizon Wireless
and Smith Micro have been jointly developing wireless data solutions since 2000.
About Verizon Wireless
Verizon Wireless is the nation's leading provider of wireless communications.
The company has the largest nationwide wireless voice and data network and 34.6
million customers. Headquartered in Bedminster, NJ, Verizon Wireless is a joint
venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE: VOD; London).
Find more information on the Web at www.verizonwireless.com .
About Smith Micro Software:
Smith Micro Software, Inc., headquartered in Aliso Viejo, CA, is a developer and
marketer of wireless communication and utility software products for multiple OS
platforms. The company designs integrated, cross platform, easy-to-use software
for personal computing and business solutions around the world. With a focus on
the Internet and Wireless and Broadband technologies, the company's products and
services enable wireless communications, eCommerce, eBusiness, Internet
communications (voice-over-IP), video conferencing, network fax, and traditional
computer telephony. Smith Micro's complete line of products is available through
original equipment manufacturers (OEMs), direct sales, retail stores, and
value-added resellers (VARs). Smith Micro's common stock trades on The Nasdaq
Stock Market(R) under the symbol SMSI. For more information, contact Smith Micro
at (949) 362-5800 or visit the company's Web site at www.smithmicro.com .
This release may contain forward-looking statements that involve risks and
uncertainties, including without limitation risks and uncertainties relating to
the company's financial prospects and projections, the company's plans for
returning to sustained profitability and the company's ability to increase its
business in the Wireless and Broadband segments. Among the important factors
that could cause actual results to differ materially from those in the
forward-looking statements are new and changing technologies, customer
acceptance of those technologies, fluctuations or cancellations in orders from
distribution customers, new and continuing adverse economic conditions, and the
company's ability to compete effectively with other software companies. These
and other factors could cause actual results to differ materially from those
presented in any forward-looking statement and are discussed in the company's
filings with the Securities and Exchange Commission including its recent filings
on Forms 10-K and 10-Q.
Smith Micro, Smith Micro logo, and QuickLink are trademarks or registered
trademarks of Smith Micro Software, Inc.
SOURCE Smith Micro Software, Inc.
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Wireless Modem and Signs on First North American
Customer
Tuesday September 9, 9:30 am ET
The Ontario Provincial Police (O.P.P.) is the first police department to
implement the MP GPS 555 for CDMA2000 1X networks to improve
officer safety and enhance policing capabilities
VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 9, 2003-- Sierra Wireless
(NASDAQ: SWIR - News; TSX: SW - News) announced today the commercial availability of the
MP 555 GPS rugged wireless modem, the second product available in Sierra Wireless's next
generation MP Series. In addition, the company also announced the first North American
implementation of the new MP 555 GPS with the Ontario Provincial Police (O.P.P.) in Canada.
The O.P.P. chose the MP 555 GPS high-speed wireless solution to enhance communication
while performing a variety of law enforcement duties including international border enforcement,
emergency response, traffic enforcement, and criminal investigation across the province of
Ontario. By outfitting its patrol cars with a new wireless system that combines the MP 555
GPS wireless modem and Panasonic Toughbook notebook computers, officers will now have
the ability to access provincial and national databases and improve the efficiency of the
dispatch and arrest process. Additionally, the MP 555 GPS rugged wireless modem provides
the enhanced network speed needed to download images and files from police databases in a
matter of seconds to an officer's patrol car ensuring fast wireless access to critical information
while officers patrol a wide range of geographies.
"This Sierra Wireless and Panasonic combination provides law enforcement professionals with
the information they need to get the job done quickly - no matter where they're located," said
Thom Leiper, National Sales and Marketing Manager, Panasonic Canada Inc. "By
implementing this new mobile system, officers can now improve emergency responsiveness,
officer and public safety, and front-line policing capabilities all of which are critical priorities for
the O.P.P."
In addition to providing police officers with timely access to mission critical information, the new
wireless solution also increases officer safety with the addition of a Global Positioning System
(GPS). The GPS capability provides officers and dispatchers with accurate location reporting.
"Today's public safety professionals can benefit from new wireless technologies that offer higher
speeds and enhanced solutions that are designed to deliver critical data to the officer faster,"
said Jason Cohenour, Senior Vice President, Worldwide Sales for Sierra Wireless. "Sierra
Wireless has a solid track record of providing mobile solutions to the public safety market and
we are proud to continue this tradition with the new MP 555 GPS rugged wireless modem.
Customers like the O.P.P. are turning to our new wireless solutions that are built to deliver
powerful results and withstand the wear and tear of daily operations in the field."
The Sierra Wireless MP Series is designed to operate in extreme temperatures and meets US
Military and SAE (Society of Automotive Engineers) specifications for vibration, shock, and
humidity. Currently, the MP 555 GPS for CDMA2000 1X networks is available in Canada and is
expected to launch in the United States in the Fall of 2003.
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Koala Inks Agreement to Form Business Development and Management Alliance with Digi Link Technologies
TORONTO, ONTARIO, Sep 11, 2003 (CCNMatthews via COMTEX) -- Koala International
Wireless, Inc. (OTCBB: KIWI), a leader in the development of web-based, wireless
network applications and wireless device development, announced today that it
has entered into an memo of understanding with Digi Link Technologies, Inc. (OTC
symbol: DGLT) to form a cooperative business development and management alliance
("Agreement"). Final terms of the Agreement are subject to the satisfactory
outcome of due diligence conducted by both DGLT and KIWI of each other's
material representations as well as approval by each Company's respective Board
of Directors.
KIWI intends to provide development and technical services to DGLT as well as
provide additional resources which may include, but will not be limited to,
financial and operational management support and regular and customary
consulting services as may be required. The parties intend to cooperate in
determining the best methods of exploitation and marketing of the assets as well
as to establish the managerial duties and responsibilities for the day-to-day
operation(s). KIWI will evaluate DGLT's current business model and assist with
identifying synergistic business opportunities, evaluate alternate uses of
corporate assets, act as advisors to DGLT in the exploration and evaluation of
strategic alternatives to enhance stockholder value including the formation of a
third party business combination or the sale of all or certain assets of DGLT.In
addition, KIWI will attempt to explore the possible utilization of combining the
use of its own proprietary prototype communication device(s) in combination with
the DGLT spectrum and frequency assets.
Hal Fischer, Koala's CEO stated, "This alliance will further position KIWI as a
bona fide transport vehicle for data and voice in the USA and will add another
more cost effective transmission method for Koala's device users contemplated in
the world's largest data and voice market."
To date, DGLT's business involved the consolidation of entities engaged in the
management or development of Specialized Mobil Radio ("SMR") 220Mhz
communication systems. By networking these formally independently owned systems,
management envisioned the potential development of a seamless, cost effective,
value-added telecommunications voice and data system throughout North America.
Peter Jegou, President and CEO of DGLT stated, "The Company has recently changed
it's business focus and is currently entertaining a number of different
proposals. This contemplated alliance represents a very positive step toward
developing new strategies and alternatives to collectively enhance shareholder
value."
Koala is developing an International Mobile Virtual Network Operator (IMVNO)
platform to allow the delivery of voice, data and Short Messaging over multiple
networks. Concurrent with the IMVNO development, Koala is pursuing the
development of applicable devices to serve the network subscribers. The IMVNO
strategy will enable subscribers to access the Internet, play and store MP3,
utilize existing applications including calendaring, contact management systems,
email and Short Messaging and additional functionality, some not currently
available in the marketplace.
This material includes forward-looking statements based on management's current
reasonable business expectations. In this document, the words "can,"
"anticipates," and similar expressions identify certain forward-looking
statements. These statements are made in reliance on the Private Securities
Litigation Reform Act, Section 27A of the Securities act of 1933, as amended.
There are numerous risks and uncertainties that could result in actual results
differing materially from expected outcomes. The material should be read in
conjunction with the Company's current annual and quarterly reports filed with
the SEC, which contain discussions of currently known factors that could
significantly impact the Company's future expectations.
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Wireless Facilities, Inc. Posts Third Quarter Earnings of $0.09 per Diluted Share With Year Over Year Net Income Growth of 164% Revenue Increased 39.7% Year Over Year to $68.6 Million
SAN DIEGO, Oct 30, 2003 /PRNewswire-FirstCall via COMTEX/ -- Wireless
Facilities, Inc. (WFI) (Nasdaq: WFII), a global leader in the design,
deployment, integration and management of wireless telecommunications networks
and security systems, today released financial results for the third quarter
ended September 30, 2003.
Revenue for the third quarter of 2003 totaled $68.6 million, an increase of
$19.5 million or 39.7 % compared to the $49.1 million reported in the same
quarter last year and an increase of $11.8 million or 20.8 % compared to the
$56.8 million reported in the second quarter of 2003.
Net income of $6.6 million for the third quarter of 2003 was 164.0% higher than
the $2.5 million for the third quarter of 2002. Net income for the third quarter
of 2003 increased $1.8 million or 37.5 % compared to net income of $4.8 million
sequentially.
Earnings per share of $0.09 for the third quarter 2003 was 125.0% higher than
$0.04 year over year and sequentially increased $0.02 or 28.6 %.
"Our financial strategies and operational execution continue to deliver a very
high level of performance," said Terry Ashwill, Executive Vice President and
Chief Financial Officer of WFI. Highlights of the financial results for the
third quarter of 2003 are as follows:
* Revenue, gross profit, operating income and net income increased for
the sixth consecutive quarter.
* Excluding capital lease obligations totaling $1.0 million, WFI
continues to have no outstanding debt at September 30, 2003.
* Stockholders' equity increased to $221.0 million and now represents
approximately 80.0 % of WFI's total balance sheet.
* Revenue for the nine months ended September 30, 2003 increased
$43.3 million or 31.8 % over the nine months ended September 30, 2002.
"Both our Wireless Network Services (WNS) and our Enterprise Solutions
businesses delivered strong results in a challenging but improving environment,"
said Dr. Masood Tayebi, Chief Executive Officer and Chairman of WFI. "Also, as
we look ahead to the fourth quarter and the year 2004, we are feeling
increasingly optimistic about our ability to achieve improving financial
performance."
WFI will discuss third quarter results on a conference call at 1:30 p.m. Pacific
Time (4:30 p.m. Eastern Time) today. To access the call, please dial (212)
346-6529. To ensure your participation, the Company suggests that you dial in 5
to 10 minutes prior to the scheduled start time. The call will also be webcast
and can be accessed at WFI's website at www.wfinet.com . A replay of the call
will be available from 3:30 p.m. Pacific Time on October 30, 2003 through 3:30
p.m. Pacific Time on November 3, 2003 by dialing (800) 633-8284 (Reservation
#21160901).
About Wireless Facilities
As a global leader in telecommunications outsourcing, Wireless Facilities, Inc.
designs, deploys, integrates and manages wireless networks and specialized
security systems for some of the largest wireless telecommunication carriers,
wireless equipment vendors and general contractors worldwide. Specializing in
network architecture and dimensioning of mobile and high speed wireless data
systems, including third generation (3G) networks, WFI provides a complete range
of network services -- from business and market planning to RF engineering,
fixed network engineering, IP and data engineering, site acquisition and
development, installation, optimization and maintenance.
WFI is headquartered in San Diego and has performed work in over 100 countries
since the Company was founded in late 1994. The Company has offices in Dallas,
Chicago, Seattle, Reston, London, Gothenburg, Stockholm, Mexico City, Sao Paulo,
and Beijing. News and information are available at www.wfinet.com .
Notice Regarding Forward-Looking Statements
This news release contains certain forward-looking statements including, without
limitation, express or implied statements concerning the Company's expectations
regarding future financial performance and market developments that involve
risks and uncertainties. Such statements are only predictions, and the Company's
actual results may differ materially. Factors that may cause the Company's
results to differ include, but are not limited to: changes in the scope or
timing of the Company's projects; continued and additional slowdowns in
telecommunications infrastructure spending in the United States and globally,
which could delay network deployment and reduce demand for the Company's
services; the timing, rescheduling or cancellation of significant customer
contracts and agreements, or consolidation by or the loss of key customers; the
adoption rate of new wireless data services; potential losses or lost
opportunities arising from the Company's operation of its variable cost model;
potential write-offs of goodwill and other long-lived assets; financial
constraints on our customers that could cause us to write off accounts
receivable or terminate contracts; failure to successfully consummate
acquisitions or integrate acquired operations; changes in the Company's
effective income tax rate; the rate of adoption of telecom outsourcing by
network carriers and equipment suppliers; the rate of growth of adoption of WLAN
and wireless security systems by enterprises; and competition in the marketplace
which could reduce revenues and profit margins. The Company undertakes no
obligation to update any forward-looking statements. These and other risk
factors are more fully discussed in the Company's Annual Report on Form 10-K
filed on March 21, 2003 and in other filings made with the Securities and
Exchange Commission.
For further information, please contact Gina Aven, Director of Investor
Relations of Wireless Facilities, Inc., +1-858-228-2589, gina.aven@wfinet.com .
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DPAC Technologies Captures Three More Design Wins for Airborne Wireless Module
GARDEN GROVE, Calif., Dec 9, 2003 (BUSINESS WIRE) --
-- Building Controls OEM Will Include Airborne 802.11b Module for
WiFi Environmental Control System
-- Warehouse Management Systems Manufacturer Chooses Airborne
802.11b Module to Replace Older Wireless Technology
-- Transportation Communications OEM Adds Airborne 802.11b Module
to Global Positioning System
Market acceptance and penetration efforts continue as DPAC Technologies(R)
(NASDAQ: DPAC) announces three more design wins today for the new line of 802.11b
wireless modules called Airborne(TM). The first of these is an application of
wireless 802.11b technology into the environmental controls (called "HVAC")
systems used in commercial buildings; the second is an industrial application
for a logistics and warehouse management system requiring a replacement to
existing wireless technology; and the third is in the rapidly evolving market
for transportation communications.
"Our continued success, and these new design wins, indicates that our focus in
multiple targeted vertical markets is clearly the right strategy," said Brett
Trowbridge, vice president for DPAC Technologies. "We are pleased to have the
opportunity to work with all of these customers to provide a wireless solution
that is rich and unique to their respective applications. These markets provide
significant opportunities for the Airborne product that DPAC will continue to
pursue aggressively."
Building Controls Industry Need for Wireless Capabilities
Building controls and control systems, such as Heating, Ventilation, Air
Conditioning, and Refrigeration (HVAC) systems are used in everything from
semiconductor clean rooms to keeping vaccines fresh and safe. Currently these
systems may or may not be wired into a central network that monitors
environmental conditions, maintenance needs, or equipment conditions.
In commercial buildings a facilities manager must contact equipment suppliers or
technicians to diagnose system problems, often causing delays and requiring
costly on-site inspections by a repair crew just to understand the problem. An
Airborne module would allow equipment suppliers and technicians to read system
data from remote locations via the Internet. This would enable them to diagnose
problems and order replacement parts ahead of time, or potentially fix problems
without having to deploy a repair crew at all.
Warehouse Management Systems Need for Wireless Capabilities
Data acquisition, process controls, and sensor industrial control equipment all
work to help streamline and improve productivity in material handling facilities
and warehouse management systems. Currently this type of equipment may or may
not be wired into a central network that monitors productivity, maintenance
needs and equipment conditions.
An Airborne module embedded into mobile equipment, such as a forklift, allows
that equipment to be located, scheduled, and monitored for wear or maintenance
requirements. Productivity of a warehouse floor and safety of operators can be
significantly improved when data is shared and easily monitored.
Transportation Industry Need for Wireless Capabilities
Transportation companies that manage large fleets of tractor-trailer rigs have a
constant requirement to manage costs and keep their fleets running by tracking
maintenance and repair records, fuel usage, mileage logs, and scheduling
information. Customers are increasingly expecting transportation companies to
supply accurate, real-time data about their shipments, including a log of the
environmental conditions of the cargo during transportation.
Transportation applications that are suitable to integrate an Airborne module
include: Fleet management systems, weigh stations, route/shipment scheduling,
automotive diagnostics, refrigerated units, and vehicle movement/tracking.
About DPAC Technologies
Located in Garden Grove, California, DPAC Technologies provides a diverse
portfolio of patented electronic-component-based products including component
packaging technology for high-density, space-saving memory and wireless
applications, and solutions for digital image enhancement. DPAC's products are
used in electronic circuits found in network servers, computer storage devices,
weapon guidance systems, medical instrumentation, communication devices,
refrigeration controls, automotive diagnostic equipment and other advanced
equipment. The Company also provides value-added manufacturing of prototype
designs and medium volume production runs of assembled circuit boards. The
Company's web site address is www.dpactech.com
Forward-Looking Statements
This press release includes forward-looking statements, including statements
regarding technology development, expansion and business plans that are subject
to change, uncertainties and risks. Every statement herein that is not historic
in nature is a forward-looking statement for purposes of the Safe Harbor
provisions of the Private Securities Litigation Reform Act of 1995. Such
statements involve risks and uncertainties, and therefore results may differ
materially from those set forth in these statements. Factors that affect DPAC's
business include; but are not limited to, the success of patented products,
future business opportunities with products, the wireless market, protection of
technology or proprietary rights, risks of litigation, and general market and
economic conditions. More information about the risks and challenges faced by
DPAC Technologies Corp. is contained in the Securities and Exchange Commission
filings made by the Company on Form 10-K, 10-Q and 8-K. DPAC Technologies Corp.
specifically disclaims any obligation to update or revise any forward-looking
statements whether as a result of new information, future developments or
otherwise.
SOURCE: DPAC Technologies
CONTACT: DPAC Technologies, Garden Grove
William M. Stowell, 714-898-0007
William.Stowell@dpactech.com
www.dpactech.com
or
Brett Trowbridge, 714-898-0007
Brett.Trowbridge@dpactech.com
www.dpactech.com
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Vyyo Increases Penetration in China with Shanghai Deployment by China Mobile
TUESDAY, DECEMBER 09, 2003 7:07 AM
- PR Newswire
VYYO
7.47 +0.61
PALO ALTO, Calif., Dec 09, 2003 /PRNewswire-FirstCall via Comtex/ -- Vyyo Inc. (VYYO) , a global supplier of wireless broadband end-to-end solutions for wireless telephony and high-speed data connections, today announced that Shanghai Mobile Communications Co., a subsidiary of China Mobile, has selected Vyyo for the deployment of its broadband wireless access (BWA) solutions in Shanghai. Vyyo's system integrator and original equipment manufacturer (OEM) Shanghai Datang Mobile Communications Equipment Co., Ltd. secured the deal.
Our mission is to capture the wireless solutions opportunity in China by systemically building relationships with Chinese telecommunications operators and system integrators," said Michael Corwin, president and chief operation officer of Vyyo. "These relationships prove our ability to execute on plan. As you can see, our relationship with Shanghai Datang Mobile Communications Equipment has successfully led to our contract with China Mobile."
Shanghai is one of the largest cities in China with a population of 13 million. China Mobile is the largest global system for mobile communication (GSM) operator in the world. For the Shanghai deployment, China Mobile intends to use Vyyo products to meet its cellular GSM backhaul and Wi-Fi hotspot backhaul, as well as business class services.
Mr. Sun Yuwong, general manager of Shanghai Datang Mobile Communications Equipment, stated, "We are delighted to have developed a relationship with Vyyo. We believe Vyyo's point-to-multipoint architecture combined with its dual-bus wireless hub, which enables both high-speed data and legacy voice lines, provides effective solutions in Chinese communities that lack wireline infrastructure. We are working closely with China Mobile on the successful deployment of Vyyo's systems. We anticipate continuing to roll out Vyyo deployments in additional cities as licenses become available."
About China Mobile.
China Mobile is the group name for Shanghai Mobile Communications Co., Ltd. (hereinafter SMCC), a wholly-owned subsidiary of China Mobile (Hong Kong). SMCC mainly provides Gotone, the digital cellular service (IMSI numbers beginning with 135, 136, 137, 138 or 139), IP telephony, Internet access and related information services as well as the technical development and technical services in Shanghai. China Mobile is the only operator fully dedicated to mobile business in China. It has been playing a leading role in the development of the mobile communications industry in China and holds an important position in the international arena as well. After over ten years of efforts, China Mobile has established a comprehensive network with large coverage, high quality, rich variety of businesses and first-class customer services. It ranks first in the world in terms of network scale and customer base. By the end of 2002, most of the cites in China had been covered by China Mobile's network with seamless coverage on the backbone lines and indoor coverage in key urban areas. At the same time, the switching capacity for GSM mobile phones had reached 182 million and the total number of customers had exceeded 138 million. China Mobile has opened roaming services with over 200 mobile operators in 116 countries and regions in the world. Currently, China Mobile limited has the largest market capitalization among the overseas-listed Chinese companies.
About Shanghai Datang Mobile Communications Equipment
Shanghai Datang Mobile Communications Equipment Co., Ltd. (SDTM) is a subsidiary company of Datang Telecom Technology Industry Group, one of the largest telecom equipment providers in China. Located in Shanghai Cao He Jin Hi-tech Park, SDTM mainly focuses on R&D, production, sales, and service of mobile communications products. SDTM was established in April 1998. The company is operated on the modern enterprise mechanism basis and has passed authentication of ISO9001 quality system. Since its establishment, the company has been developing at a high speed. As a leading company in GSM field, SDTM lunched GSM 900/1800 BSS to market. It was the first time that domestic equipment was adopted in a Chinese public mobile network. At the same time, the Network Optimization Solutions provided by SDTM are widely used in improving the network of China Mobile and China Unicom, giving SDTM a predominant role in the market. In 2001, SDTM advanced to CDMA fields and acquired a large number of orders from China Unicom. Also, SDTM devotes itself to developing the TD-SCDMA released by Datang, which is one of the 3G standards established by ITU.
About Vyyo Inc.
Vyyo offers wireless broadband end-to-end solutions used by telecommunications providers to deliver both wireless telephony and high-speed data connections to business and residential subscribers. The technology uses point-to-multipoint architecture to deliver circuit switched (telephony), as well as voice and data over IP. The company sells systems directly to service providers and systems integrators worldwide. Vyyo has shipped over 340 base stations and over 30,000 modems, which are deployed in China, the U.S., Canada, Europe, Latin America, Southeast Asia and Africa. Vyyo is headquartered at 4015 Miranda Avenue, 1st Floor, Palo Alto, CA 94304-1218. More information on the company can be found at www.vyyo.com.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. Actual events and results may differ materially from those projected in these forward-looking statements as a result of several factors, including but not limited to, the current limited visibility available in the telecommunications and broadband access equipment markets; whether Vyyo is successful in marketing and selling its wireless broadband access products, particularly in China and the Far East; challenges of doing business in China and the Far East, including regulatory, economic, political, health, financial and safety risks; the ability of the China Mobile group and Shanghai Datang Mobile Communications Equipment Co., Ltd. to successfully implement Vyyo systems; whether the Chinese government makes any additional spectrum license grants; economic conditions worldwide and the continued effects of the slow U.S. economy; and other risks set forth in Vyyo's annual report on Form 10-K for the year ended December 31, 2002, its quarterly report on Form 10-Q for the three months ended September 30, 2003, and in other periodic reports filed by Vyyo with the Securities and Exchange Commission from time to time. Vyyo assumes no duty to update these statements.
SOURCE Vyyo, Inc.
Arnon Kohavi, EVP of Vyyo Inc, +1-650-319-4007, or
ir@vyyo.com; or investors, Lillian Armstrong and Kirsten Chapman,
kirsten@lhai-sf.com, both of Lippert
http://www.prnewswire.com
Copyright (C) 2003 PR Newswire. All rights reserved.
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