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PROXIM WIRELESS REPORTS FOURTH QUARTER AND FULL YEAR 2009 FINANCIAL RESULTS
PROXIM WIRELESS REPORTS FOURTH QUARTER AND FULL YEAR 2009 FINANCIAL RESULTS.
About this update from Proxim Wireless Corporation
[{"type":"text","content":"Press Releasev\\:* {behavior:url(#default#VML);}o\\:* {behavior:url(#default#VML);}w\\:* {behavior:url(#default#VML);}.shape {behavior:url(#default#VML);}st1\\:*{behavior:url(#ieooui) }For Further Information Contact:David RenauldVice President, Corporate AffairsProxim Wireless(413) [email protected] PROXIM WIRELESS REPORTS FOURTH QUARTER AND FULL YEAR 2009 FINANCIAL RESULTS New Tsunami™ 8100 Product Line Drives Sequential Quarterly Revenue Growth; New Products in Pipeline to Increase 2010 Revenue Silicon Valley, CA, March 4, 2010 – Proxim Wireless Corporation (OTCQX: PRXM), a leading provider of end-to-end broadband wireless systems, today released financial results for the fourth quarter and full fiscal year ended December 31, 2009. Financial Highlights On a GAAP basis, revenues for the quarter ended December 31, 2009 were $7.6 million compared to $7.0 million for the quarter ended September 30, 2009 and $11.6 million for the quarter ended December 31, 2008. Revenue was 9% higher than the third quarter of 2009 driven primarily by strong demand for the new Tsunami™ 8100 product line. In fact, the market acceptance of Proxim’s 8100 wireless backhaul and point-to-multipoint (PtMP) products was so dramatic that sales of these products exceeded $1 million in the fourth quarter – the first full quarter of the products’ availability. Proxim believes this adoption by the marketplace is the result of several key benefits of the Tsunami 8100 products: · The only PtMP platform capable of delivering greater than 100 Mbps connectivity· Proxim’s use of MIMO and OFDM technology to provide NLOS capabilities while maintaining higher performance· Better price/performance than competitive products· Greater ease of use and deployment for quicker deployment times In 2010, Proxim plans to introduce additional products that not only expand upon the 8100 platform, but also target high-growth markets including wireless video surveillance, rural broadband, and military applications. In the fourth quarter ended December 31, 2009, gross ...