Exhibit 99.1
(Airvana Logo)
Airvana Reports Fourth Quarter and Full Year 2007 Financial Results
Financial Results for 2007 and Outlook for 2008
to be Discussed on Conference Call Today at 8:30 a.m. ET
CHELMSFORD, Mass., February 6, 2008
— Airvana, Inc. (NASDAQ: AIRV), a leading provider of mobile broadband network infrastructure products, today reported financial results for the fourth quarter and year ended December 30, 2007.
GAAP Financial Highlights
  Revenue: Total revenue for the fourth quarter of 2007 was $145.6 million, compared with total revenue of $1.3 million in the fourth quarter of 2006. Total revenue for the full year 2007 was $305.8 million compared with total revenue of $170.3 million for 2006. A new commercial release of EV-DO Rev A software triggered significant revenue recognition in the fourth quarter of 2007.
  Net Income/Loss: Net income for the fourth quarter of 2007 was $104.2 million, compared with a net loss of $19.1 million for the fourth quarter of 2006. Net income for the full year 2007 was $153.3 million compared with net income of $74.1 million for 2006. Operating expenses for the full year 2007 increased to $98.5 million from $67.9 million in the prior year, reflecting the Company’s investments in new product R&D, as well as funding for international expansion programs. In addition, results for the full year 2007 include a tax expense of $21.9 million, while the results for 2006 included a $10.7 million tax benefit.
  Net Cash Provided by Operating Activities: Net cash provided by operating activities was $10.4 million for the fourth quarter of 2007 and $91.8 million for the full year 2007, compared with $21.1 million for the fourth quarter of 2006 and $25.1 million for 2006. The Company’s core EV-DO network infrastructure business continued to generate strong cash flow. Cash flow for full year 2007 includes a $31.9 million reduction in accounts receivable, as well as an $8.9 million income tax refund received during the fourth quarter.
Non-GAAP Product and Service Billings
  Product and Service Billings (“Billings”): On a non-GAAP basis, the Company’s Billings for the fourth quarter of 2007 were $33.3 million compared with $72.9 million for the fourth quarter of 2006. The higher Billings in the fourth quarter of 2006 reflected spending for initial deployments of EV-DO Rev A software by wireless operators. For the full year 2007, Billings increased to $142.2 million from $140.6 million for 2006. Throughout 2007 wireless operators continued their deployment of EV-DO Rev A software to extend mobile broadband services coverage for their customers. In addition, operators continue to upgrade their networks with new versions of the Company’s software to provide their subscribers with enhanced mobile broadband services.
  Gross Profit on Billings: On a non-GAAP basis, the Company’s Gross Profit on Billings for the fourth quarter of 2007 was $30.8 million compared with $70.8 million for the fourth quarter of

 


The following information was filed by Airvana Inc on Wednesday, February 6, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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