Nextwave Wireless (fka WAVE)

[revlis]

NextWave Chips Away at Net Loss

Friday, November 12, 2010

NextWave Wireless Inc., which sold its remaining interest in its main subsidiary, PacketVideo, in August for a net profit of $107 million, reported Nov. 10 a third quarter net loss of $79.7 million, down from the $100.6 million net loss for the like quarter of 2009.

For the nine months ended Oct. 2, NextWave reported a net loss of $154.2 million, compared to a net loss of $238.3 million for the like nine months of last year.

In its securities filing, the company stated its accumulated deficit as of the end of the third quarter was $1.34 billion, compared to an accumulated deficit of $1.19 billion at the end of the third quarter of 2009.

Banished from Nasdaq in July after its share price dropped below $1, the stock was traded on the Pink Sheets Exchange on Nov. 11 at $1.15, and has ranged from 70 cents to $5.11 over the past 52 weeks.

— Mike Allen

http://www.sdbj.com/news/2010/nov/12/nextwave-chips-away-net-loss/