Alvarion Rises On Narrower Q1 GAAP Net Loss, Higher Revenues

Posted on Monday, May 05, 2008 8:58 AM

(RTTNews) - Alvarion (ALVR) climbed in pre-market trading, up about 6 percent. The advance came after the company reported a narrower first-quarter GAAP net loss and a 29 percent rise in revenues. The stock was up 42 cents just after 8:55 am ET, rising to $7.20. If pre-market gains hold, the stock will open at its highest level since early April. Alvarion reported GAAP net loss for the first quarter of 2008 of $601 thousand or $0.01 per share, compared to a GAAP net loss of $623 thousand or $0.01 per share in the same period last year. Loss from continuing operations for the quarter was $601 thousand or $0.01 per share, versus loss of $1.06 million or $0.02 per share in the last year quarter. On non-GAAP basis, the company posted net profit for the quarter of $2.0 million or $0.03 per diluted share, versus $1.3 million or $0.02 per diluted share in the prior year quarter. Revenues increased 29% to $67.2 million from $52.1 million in the comparable quarter a year earlier. Analysts polled by First Call/Thomson Financial expected the company to report earnings for the quarter of $0.02 per share on $65.31 million revenues. Looking ahead, the company expects second quarter revenue in the range of $67 million to $71 million. Non-GAAP per share results for continuing operations are expected to range of $0.00 to $0.04. GAAP per share results are expected to range between a loss of $0.04 and breakeven. Analysts expect the company to earn $0.03 per share for the second quarter on $68.62 million revenues. For comments and feedback: contact editorial@rttnews.com