Nextwave Wireless (fka WAVE)

[javadreams]

so what about cash after this deal and is there something of reorganization?? or is this cash only for reducing the co. debts?? any thoughts!!??


Friday , August 08, 2008 06:25ET

Aug 08, 2008 (M2 EQUITYBITES via COMTEX) -- NextWave Wireless Inc (Nasdaq:WAVE), a provider of wireless broadband and mobile multimedia products, on 7 August reported financial results for the second quarter of 2008 ended 28 June 2008. Revenues for the quarter were USD31.8m, as compared with USD12.8m in the corresponding quarter of the prior year. For the first six months of 2008 revenues totalled USD57.8m as compared with USD20.6m in the first six months of 2007, representing an 181% increase year-over-year.

The company said that this increase in revenues is primarily related to the acquisition of IPWireless Inc in May 2007 and continued sales growth and market penetration in mobile subscriber services by PacketVideo.

The company reported a net loss of USD91.8m in the quarter or USD0.89m per share, an increase over a net loss of USD72.1m or USD0.81 per share for the first quarter of 2008. For the first six months of 2008 net loss was USD194.0m or USD1.97 per share, as compared with USD121.7m or USD1.41 per share in the first six months of 2007. NextWave has cash, cash equivalents, marketable securities, and restricted cash of USD71.1m at the end of the second quarter of 2008, as compared with USD142.5m at the end of the first quarter.