Networks Announces Fourth Quarter and Full Year 2006 Financial
Achieves 15% Revenue Growth in 2006
RATON, Fla. — February 28, 2006
Airspan Networks Inc. (Nasdaq: AIRN)
announced its fourth quarter and full year financial results for the period
ending December 31, 2006. Full year reported revenues for 2006 were a record
$127.8 million, up 15% from the $111.0 million reported for 2005. The Company
reported revenues for the 2006 fourth quarter of $31.3 million, a decrease
17% from the fourth quarter of 2005, but up 15% compared to the third quarter
2006. The net loss attributable to common stockholders for the fourth quarter
was $4.1 million or $(0.10) per share, against a loss of $3.3 million or $(0.08)
per share in the fourth quarter of 2005. The net loss attributable
to common stockholders
full year 2006 was $38.4 million, or $(0.96) per share, compared to $15.1
million, or $(0.39) per share, for 2005. Net loss attributable to common
stockholders in 2006 included a cost of $9.2 million, or $(0.23) per share,
the deemed dividend associated with an exchange and beneficial conversion of
preferred stock in September 2006.
Quarter 2006 Business Highlights
the HiperMAX Base Station platform, the industry’s first software-defined
product for Mobile WiMAX.
WiMAX revenue through our OEM channel partners, including HiperMAX customer
with major Tier 1 carriers in Europe and Latin America.
of the Triband USB subscriber device, which will enable WiMAX services to be
delivered to portable devices such as laptop computers, continued on schedule;
the product remains on track for end of 2007 introduction.
of the 5.8GHz frequency band to the MicroMAX Base Station product to address
unlicensed frequency market.
MicroMAX 3.5GHz FDD Base Station.
interoperability testing of Airspan Wave 2 WiMAX at WiMAX Mobile plugfests.
The following information was filed by Airspan Networks Inc (AIRO) on Thursday, March 1, 2007 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.