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Jul 29, 2008 08:31 ET
Airspan Networks Granted FCC Certification for 5.4 GHz WiMAX
Already Proven in International Deployments, 5.4 GHz Certification Adds Another Band to Airspan's Rapidly Growing Portfolio of Products for the US
BOCA RATON, FL--(Marketwire - July 29, 2008) - Airspan Networks Inc. (NASDAQ: AIRN), a leading provider of WiMAX broadband wireless access networks, today announced that it had received the first formal FCC certification for WiMAX equipment for 5.4 GHz.
Included in this certification are Airspan's MicroMAX™ Base Station as well as the ProST and EasyST Subscriber Terminals. The solution can be integrated with VoIP and WiFi extensions and incorporates Airspan's proprietary interference mitigating software to ensure optimized and uninterrupted performance. Airspan has deployed 5.4 GHz WiMAX internationally for some time, but this certification makes it the first such WiMAX product in the US. Affordable and field-proven, MicroMAX provides broadband service with easy deployment and quick return on investment.
"Airspan is aggressively pursuing a leading role in the US WiMAX market. The most comprehensive range of compelling products, paired with key strategic partnerships, has resulted in an impressive series of account wins in the US this year," commented Declan Byrne, Airspan's Chief Marketing Officer. "This new FCC certification provides another vehicle to help Airspan continue our course and drive additional revenues from this growing market."
Airspan continues to expand its portfolio for US licensed and unlicensed spectrum bands, offering the broadest frequency range and most robust solutions to provide customers with the flexibility to meet their diverse WiMAX deployment needs.
About Airspan Networks Inc.
Airspan is the industry's leading WiMAX pure player, ranked #1 for IEEE802.16-2004 WiMAX revenue in 2007 and has now been selected for some of the world's largest mobile WiMAX deployments. With direct sales offices throughout Asia, EMEA and the Americas, a worldwide network of resellers and agents, and partnership alliances with major OEMs, Airspan boasts over 100 commercial WiMAX deployments worldwide. www.airspan.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, financial position, future revenues, projected costs, prospects, plans and objectives of management, may be deemed to be forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions or negative variations thereof are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Investors and others are therefore cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007 and in the Company's 2008 Quarterly Reports on Form 10-Q. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements.
Airspan Networks Granted FCC Certification for 5.4 GHz WiMAX
Already Proven in International Deployments, 5.4 GHz Certification Adds Another Band to Airspan's Rapidly Growing Portfolio of Products for the US
BOCA RATON, FL--(Marketwire - July 29, 2008) - Airspan Networks Inc. (NASDAQ: AIRN), a leading provider of WiMAX broadband wireless access networks, today announced that it had received the first formal FCC certification for WiMAX equipment for 5.4 GHz.
Included in this certification are Airspan's MicroMAX™ Base Station as well as the ProST and EasyST Subscriber Terminals. The solution can be integrated with VoIP and WiFi extensions and incorporates Airspan's proprietary interference mitigating software to ensure optimized and uninterrupted performance. Airspan has deployed 5.4 GHz WiMAX internationally for some time, but this certification makes it the first such WiMAX product in the US. Affordable and field-proven, MicroMAX provides broadband service with easy deployment and quick return on investment.
"Airspan is aggressively pursuing a leading role in the US WiMAX market. The most comprehensive range of compelling products, paired with key strategic partnerships, has resulted in an impressive series of account wins in the US this year," commented Declan Byrne, Airspan's Chief Marketing Officer. "This new FCC certification provides another vehicle to help Airspan continue our course and drive additional revenues from this growing market."
Airspan continues to expand its portfolio for US licensed and unlicensed spectrum bands, offering the broadest frequency range and most robust solutions to provide customers with the flexibility to meet their diverse WiMAX deployment needs.
About Airspan Networks Inc.
Airspan is the industry's leading WiMAX pure player, ranked #1 for IEEE802.16-2004 WiMAX revenue in 2007 and has now been selected for some of the world's largest mobile WiMAX deployments. With direct sales offices throughout Asia, EMEA and the Americas, a worldwide network of resellers and agents, and partnership alliances with major OEMs, Airspan boasts over 100 commercial WiMAX deployments worldwide. www.airspan.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, financial position, future revenues, projected costs, prospects, plans and objectives of management, may be deemed to be forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions or negative variations thereof are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Investors and others are therefore cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007 and in the Company's 2008 Quarterly Reports on Form 10-Q. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements.
Aug 06, 2008 07:30 ET
Airspan Announces Second Quarter 2008 Results
BOCA RATON, FL--(Marketwire - August 6, 2008) - Airspan Networks Inc. (NASDAQ: AIRN)
Highlights
-- $21.4 million in revenues for second quarter 2008
-- Net cash used in the quarter of $0.9 million
-- Cash, cash equivalents, short-term investments and restricted cash
amounted to $33.1 million at the end of the quarter
-- Revenue derived from over 90 WiMAX customers in the second quarter
2008
-- Increased WiMAX deployments in the US with new FCC approved products
-- WiMAX Network expansions in Middle East, Eastern Europe and Latin
America
-- WiMAX Forum® Wave II certification for Mobile WiMAX USB
Airspan Networks Inc. (NASDAQ: AIRN), a leading provider of WiMAX based broadband wireless access networks, today announced results for the second quarter ending June 29, 2008. Second quarter 2008 total revenues decreased by 3% to $21.4 million compared to $22.1 million for the second quarter of 2007. The second quarter gross margin was 32%, compared to 8% in the second quarter of 2007, which included a significant inventory write-down. Net loss attributable to common stockholders was $8.8 million or $0.15 per share for the second quarter of 2008, compared with a loss of $11.7 million or $0.29 per share in the second quarter of 2007.
Key Figures
Second Qtr Second Qtr First Qtr
In $US thousands except for EPS 2008 2007 2008
---------- ---------- ----------
Total Revenue 21,391 22,073 17,159
---------- ---------- ----------
WiMAX Revenue 12,708 14,125 13,321
---------- ---------- ----------
Non-WiMAX Revenue 8,683 7,948 3,838
---------- ---------- ----------
Gross profit 6,744 1,850 5,236
---------- ---------- ----------
Operating Expenses 15,735 13,707 15,596
---------- ---------- ----------
Net Loss (8,820) (11,676) (10,052)
---------- ---------- ----------
Net loss per share (basic and diluted) $ (0.15) $ (0.29) $ (0.17)
---------- ---------- ----------
Weighted Average Common Shares
Outstanding (1) 58,682,735 40,820,968 58,599,702
---------- ---------- ----------
(1) Excludes shares of common stock issuable on exercise of stock options and 21,630,856 shares of common stock issuable on conversion of the Company's Series B preferred stock.
"We have registered a well executed quarter in a dynamic market environment. Our fixed network business continues to be strong. We see great potential across all regions for our products, winning new customers and growing incumbent accounts. Our relationships with Fujitsu, Gilat, and Nortel continue to grow revenues and new customers. In addition, our mobile products are advancing rapidly evidenced by our successful mobile WiMAX certification," commented Eric Stonestrom, Airspan's president and chief executive officer.
"Commercial activity in the quarter included several expansion contracts in the Middle East, Eastern Europe and Latin America. These contract extensions underscore our customers' reliance on Airspan products to grow their businesses. We are winning new contracts globally which highlights our competitive product offerings in both emerging and fully developed economies.
"We are increasingly confident as we move into the second half of the year. The WiMAX market holds significant growth potential and while we will continue to target operational efficiencies, we will also aggressively pursue business opportunities, invest in our technology and marketing, and continue to work with our strategic partners to grow our business," Mr. Stonestrom continued.
Second Quarter Financial details
Total second quarter revenues decreased year over year by 3% to $21.4 million compared with $22.1 million in the second quarter of 2007. Compared to the first quarter 2008 revenues of $17.2 million, second quarter revenues increased 25%, driven by a significant increase in non-WiMAX revenues, which amounted to $8.7 million in the quarter. WiMAX revenues were down 5% at $12.7 million in the second quarter of 2008, compared to $13.3 million in the first quarter 2008.
Gross margin was 32% compared to 8% recorded in the same quarter of 2007. Total operating expenses for the second quarter of 2008 were $15.7 million, a 15% increase over the same period last year. A restructuring charge of $0.6 million was recorded in the quarter related to cost cutting initiatives, compared to a credit of $0.5 million in the corresponding second quarter of 2007.
Geographically, in the second quarter of 2008, approximately 35% of revenue was derived from customers in Mexico, Latin America and the Caribbean, 24% from customers in Europe, 21% from customers in Africa and the Middle East, 13% from customers in the United States and Canada and 7% from customers in Asia.
Cash, cash equivalents, short-term investments, and restricted cash amounted to $33.1 million compared to $34.0 million at March 30, 2008, resulting in cash usage for the quarter of $0.9 million. Days Sales Outstanding (DSOs) were 67 at the end of the second quarter, down significantly from 110 at the end of 2007.
"We are very focused on growing our revenues and efficiently managing our costs and cash resources. We are increasing our sales and marketing activity around our award winning WiMAX products while reducing expenditures in other non-core areas," commented David Brant, Airspan's chief financial officer.
Outlook
"The business outlook in the second half looks improved from the recent past as more operators utilize fixed WiMAX, and mobile WiMAX increases in momentum. Given the current market perspectives, we anticipate that our full year revenue will be in the range of $90 million and WiMAX will continue to increase as a percentage of our customer wins and revenues," commented Mr. Stonestrom.
Conference Call
The Company has scheduled an investor conference call for 8:30 a.m., EDT today. Please call the following dial-in number to participate in the call: US toll-free number is (888) 443-9987; the international access dial-in number is +1 (706) 634-0598. Please reference the Airspan Networks quarterly conference call, Conference ID 55751459. A replay of the call will be available approximately two hours following the live session through September 6, 2008. The U.S. toll-free number for the replay is (800) 642-1687; international dial-in number for the replay is +1 (706) 645-9291. Please use access code 55751459.
Investors may also register for the audio webcast of the conference call under the 'financial calendar' tab of the Investor Relations section of the Airspan Web site at http://www.visualwebcaster.com/event.asp?id=49900.
About Airspan Networks Inc.
Airspan is the industry's leading WiMAX pure player, ranked #1 for IEEE802.16-2004 WiMAX revenue in 2007 and has now been selected for some of the world's largest mobile WiMAX deployments. With direct sales offices throughout Asia, EMEA and the Americas, a worldwide network of resellers and agents, and partnership alliances with major OEMs, Airspan boasts over 100 commercial WiMAX deployments worldwide. www.airspan.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, financial position, future revenues, projected costs, prospects, plans and objectives of management, may be deemed to be forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions or negative variations thereof are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Investors and others are therefore cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007 and Quarterly Reports on Form 10-Q for 2008. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements.
Airspan Announces Second Quarter 2008 Results
BOCA RATON, FL--(Marketwire - August 6, 2008) - Airspan Networks Inc. (NASDAQ: AIRN)
Highlights
-- $21.4 million in revenues for second quarter 2008
-- Net cash used in the quarter of $0.9 million
-- Cash, cash equivalents, short-term investments and restricted cash
amounted to $33.1 million at the end of the quarter
-- Revenue derived from over 90 WiMAX customers in the second quarter
2008
-- Increased WiMAX deployments in the US with new FCC approved products
-- WiMAX Network expansions in Middle East, Eastern Europe and Latin
America
-- WiMAX Forum® Wave II certification for Mobile WiMAX USB
Airspan Networks Inc. (NASDAQ: AIRN), a leading provider of WiMAX based broadband wireless access networks, today announced results for the second quarter ending June 29, 2008. Second quarter 2008 total revenues decreased by 3% to $21.4 million compared to $22.1 million for the second quarter of 2007. The second quarter gross margin was 32%, compared to 8% in the second quarter of 2007, which included a significant inventory write-down. Net loss attributable to common stockholders was $8.8 million or $0.15 per share for the second quarter of 2008, compared with a loss of $11.7 million or $0.29 per share in the second quarter of 2007.
Key Figures
Second Qtr Second Qtr First Qtr
In $US thousands except for EPS 2008 2007 2008
---------- ---------- ----------
Total Revenue 21,391 22,073 17,159
---------- ---------- ----------
WiMAX Revenue 12,708 14,125 13,321
---------- ---------- ----------
Non-WiMAX Revenue 8,683 7,948 3,838
---------- ---------- ----------
Gross profit 6,744 1,850 5,236
---------- ---------- ----------
Operating Expenses 15,735 13,707 15,596
---------- ---------- ----------
Net Loss (8,820) (11,676) (10,052)
---------- ---------- ----------
Net loss per share (basic and diluted) $ (0.15) $ (0.29) $ (0.17)
---------- ---------- ----------
Weighted Average Common Shares
Outstanding (1) 58,682,735 40,820,968 58,599,702
---------- ---------- ----------
(1) Excludes shares of common stock issuable on exercise of stock options and 21,630,856 shares of common stock issuable on conversion of the Company's Series B preferred stock.
"We have registered a well executed quarter in a dynamic market environment. Our fixed network business continues to be strong. We see great potential across all regions for our products, winning new customers and growing incumbent accounts. Our relationships with Fujitsu, Gilat, and Nortel continue to grow revenues and new customers. In addition, our mobile products are advancing rapidly evidenced by our successful mobile WiMAX certification," commented Eric Stonestrom, Airspan's president and chief executive officer.
"Commercial activity in the quarter included several expansion contracts in the Middle East, Eastern Europe and Latin America. These contract extensions underscore our customers' reliance on Airspan products to grow their businesses. We are winning new contracts globally which highlights our competitive product offerings in both emerging and fully developed economies.
"We are increasingly confident as we move into the second half of the year. The WiMAX market holds significant growth potential and while we will continue to target operational efficiencies, we will also aggressively pursue business opportunities, invest in our technology and marketing, and continue to work with our strategic partners to grow our business," Mr. Stonestrom continued.
Second Quarter Financial details
Total second quarter revenues decreased year over year by 3% to $21.4 million compared with $22.1 million in the second quarter of 2007. Compared to the first quarter 2008 revenues of $17.2 million, second quarter revenues increased 25%, driven by a significant increase in non-WiMAX revenues, which amounted to $8.7 million in the quarter. WiMAX revenues were down 5% at $12.7 million in the second quarter of 2008, compared to $13.3 million in the first quarter 2008.
Gross margin was 32% compared to 8% recorded in the same quarter of 2007. Total operating expenses for the second quarter of 2008 were $15.7 million, a 15% increase over the same period last year. A restructuring charge of $0.6 million was recorded in the quarter related to cost cutting initiatives, compared to a credit of $0.5 million in the corresponding second quarter of 2007.
Geographically, in the second quarter of 2008, approximately 35% of revenue was derived from customers in Mexico, Latin America and the Caribbean, 24% from customers in Europe, 21% from customers in Africa and the Middle East, 13% from customers in the United States and Canada and 7% from customers in Asia.
Cash, cash equivalents, short-term investments, and restricted cash amounted to $33.1 million compared to $34.0 million at March 30, 2008, resulting in cash usage for the quarter of $0.9 million. Days Sales Outstanding (DSOs) were 67 at the end of the second quarter, down significantly from 110 at the end of 2007.
"We are very focused on growing our revenues and efficiently managing our costs and cash resources. We are increasing our sales and marketing activity around our award winning WiMAX products while reducing expenditures in other non-core areas," commented David Brant, Airspan's chief financial officer.
Outlook
"The business outlook in the second half looks improved from the recent past as more operators utilize fixed WiMAX, and mobile WiMAX increases in momentum. Given the current market perspectives, we anticipate that our full year revenue will be in the range of $90 million and WiMAX will continue to increase as a percentage of our customer wins and revenues," commented Mr. Stonestrom.
Conference Call
The Company has scheduled an investor conference call for 8:30 a.m., EDT today. Please call the following dial-in number to participate in the call: US toll-free number is (888) 443-9987; the international access dial-in number is +1 (706) 634-0598. Please reference the Airspan Networks quarterly conference call, Conference ID 55751459. A replay of the call will be available approximately two hours following the live session through September 6, 2008. The U.S. toll-free number for the replay is (800) 642-1687; international dial-in number for the replay is +1 (706) 645-9291. Please use access code 55751459.
Investors may also register for the audio webcast of the conference call under the 'financial calendar' tab of the Investor Relations section of the Airspan Web site at http://www.visualwebcaster.com/event.asp?id=49900.
About Airspan Networks Inc.
Airspan is the industry's leading WiMAX pure player, ranked #1 for IEEE802.16-2004 WiMAX revenue in 2007 and has now been selected for some of the world's largest mobile WiMAX deployments. With direct sales offices throughout Asia, EMEA and the Americas, a worldwide network of resellers and agents, and partnership alliances with major OEMs, Airspan boasts over 100 commercial WiMAX deployments worldwide. www.airspan.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, financial position, future revenues, projected costs, prospects, plans and objectives of management, may be deemed to be forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions or negative variations thereof are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Investors and others are therefore cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007 and Quarterly Reports on Form 10-Q for 2008. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements.
Umsätze aus dem WiMAX Bereich sind rückläufig. Im Heimatland spielt Airspan mit 13% Umsatzanteil nach wie vor keine Rolle. Nach den ersten 2Quartalen habe ich so meine Zweifel das sie ihre Umsatzprgnose von 90Mio. USD für das laufende Jahr halten können ... und schwarze Zahlen sehe ich in den nächsten 4.Quartalen auch keine ... aber noch ist ja genügend Cash in der Kasse
Airspan Networks Inc. Q2 2008 Earnings Call Transcript
Page 1 out of 10| posted on: September 21, 2008 | about stocks: AIRN
Airspan Networks Inc. (AIRN)
Q2 2008 Earnings Call Transcript
August 6, 2008 4:30 pm ET
Executives
David Brant – SVP & CFO
Eric Stonestrom – President & CEO
Analysts
Steve Ferranti – Stephens Inc.
Rich Valera – Needham & Company
Michael Nelson – Stanford Group
Blaine Carroll – FTN Midwest Securities Corp.
Joanna Makris – Brean Murray, Carret & Co.
Gunther Krager – Discovery Group
Scott Steril [ph]
Presentation
Operator
Good morning. My name is Adrian and I'll be your conference operator today. At this time, I would like to welcome everyone to the second quarter conference call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be question-and-answer session. (Operator instructions) Thank you. Mr. Brant, you may begin your conference.
David Brant
Thank you very much, Adrian. Welcome everyone and thanks for joining our call today. We appreciate your participation and continued interest. With me on the call today is Eric Stonestrom, our CEO.
To start off the call, Eric will provide his perspectives on our business, and I'll then take you briefly through the results for the quarter ending June 29, 2008. We will close with the question-and-answer session. The Company issued a press release today containing detailed results for the second quarter 2008. This release is available on the Company's Web site, as well as various financial websites. In keeping with SEC requirements, I must advise you that this conference call will contain forward-looking statements reflecting the beliefs and assumptions of management, based on current available information. Listeners are cautioned that a variety of factors, including certain risks may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements.
Listeners are therefore cautioned not to place undue reliance on such statements, as they are not a guarantee of future performance and remain subject to a number of uncertainties and other factors that could cause actual results to differ materially from their forecast. For more detailed discussion of risks and uncertainties relating to Airspan Networks, you are directed to the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2007 and the quarterly 2008 reports on Form 10-Q.
With that, I'll turn the call over to Eric.
Eric Stonestrom
Okay. Thank you, David. Good morning to everyone on the call. I'm sure most of you have had time to review our 2Q release. We are pleased to have hit the revenue target for the quarter in what has clearly been a tough market environment. Despite the challenges, we saw in the second quarter some real clarity about the where the market opportunities are headed, and I'd like to start off this call by reflecting upon where WiMAX sits today as an industry and how Airspan will capitalize on the substantial opportunities within this environment.
Airspan has been in the business of providing broadband connectivity for the last decade. We have provided over $600 million of products to over 1000 customers to meet this basic network need. The opportunities for the products that we make are expanding in three basic ways as WiMAX goes mainstream. I'll talk through those ways and then I'll turn to some specifics of the quarter.
The first way in which the market is expanding is in additional applications. The best example of this is the addition of mobile connectivity to what was historically a fixed network model. A project with Comstar, Armenia which was recently launched is a good example of this. The KTVI, UQC rollout in Japan is another example. These are the cases where a traditional technology that was used for fixed connectivity has been supercharged and enhanced and now provides a platform for mobile computing.
Another example of the market expanding for our products due to initial – additional applications is the arrival of true PCBs connectivity. Previous connectivity provided by our products and those of our competitors all required discrete, separate devices in the customer (inaudible). In the second quarter, we introduced our MiMax device which is a small dongle. It plugs into a PC receiving WiMAX signals in many frequencies and we more importantly received a WiMAX formal certification for this unit, which will combine four frequencies and plugs into any PC with a USB port. This is a significant development for Airspan as the certification process involved over 20 vendors, but success was limited to a small handful of market leaders.
Certification is significant because operators deploying WiMAX can utilize the products with confidence that they will work into a multi-vendor echo system. In addition of the formal certification we completed interoperability testing with the Tier-1 vendor space station at the request of a major customer and we will continue to test with other vendors throughout the year. At the industry level, there is no doubt that the demand for broadband mobile computing is significant.
The successful introduction of the next iPhone has demonstrated to the masses the undeniable market demand for mobile broadband computing. For the mainstream mobile broadband applications, WiMAX is the solution for disruptive carriers. It'll leverage at the early availability to grab market share from the incomings, while they wait for LTE. The WiMAX industry is doing the first completely carry away wireless standard in the last 20 years, and we are doing it far more quickly than it is ever been done before. This mobile broadband application area represents a major increase in addressable market for Airspan.
Page 1 out of 10| posted on: September 21, 2008 | about stocks: AIRN
Airspan Networks Inc. (AIRN)
Q2 2008 Earnings Call Transcript
August 6, 2008 4:30 pm ET
Executives
David Brant – SVP & CFO
Eric Stonestrom – President & CEO
Analysts
Steve Ferranti – Stephens Inc.
Rich Valera – Needham & Company
Michael Nelson – Stanford Group
Blaine Carroll – FTN Midwest Securities Corp.
Joanna Makris – Brean Murray, Carret & Co.
Gunther Krager – Discovery Group
Scott Steril [ph]
Presentation
Operator
Good morning. My name is Adrian and I'll be your conference operator today. At this time, I would like to welcome everyone to the second quarter conference call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be question-and-answer session. (Operator instructions) Thank you. Mr. Brant, you may begin your conference.
David Brant
Thank you very much, Adrian. Welcome everyone and thanks for joining our call today. We appreciate your participation and continued interest. With me on the call today is Eric Stonestrom, our CEO.
To start off the call, Eric will provide his perspectives on our business, and I'll then take you briefly through the results for the quarter ending June 29, 2008. We will close with the question-and-answer session. The Company issued a press release today containing detailed results for the second quarter 2008. This release is available on the Company's Web site, as well as various financial websites. In keeping with SEC requirements, I must advise you that this conference call will contain forward-looking statements reflecting the beliefs and assumptions of management, based on current available information. Listeners are cautioned that a variety of factors, including certain risks may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements.
Listeners are therefore cautioned not to place undue reliance on such statements, as they are not a guarantee of future performance and remain subject to a number of uncertainties and other factors that could cause actual results to differ materially from their forecast. For more detailed discussion of risks and uncertainties relating to Airspan Networks, you are directed to the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2007 and the quarterly 2008 reports on Form 10-Q.
With that, I'll turn the call over to Eric.
Eric Stonestrom
Okay. Thank you, David. Good morning to everyone on the call. I'm sure most of you have had time to review our 2Q release. We are pleased to have hit the revenue target for the quarter in what has clearly been a tough market environment. Despite the challenges, we saw in the second quarter some real clarity about the where the market opportunities are headed, and I'd like to start off this call by reflecting upon where WiMAX sits today as an industry and how Airspan will capitalize on the substantial opportunities within this environment.
Airspan has been in the business of providing broadband connectivity for the last decade. We have provided over $600 million of products to over 1000 customers to meet this basic network need. The opportunities for the products that we make are expanding in three basic ways as WiMAX goes mainstream. I'll talk through those ways and then I'll turn to some specifics of the quarter.
The first way in which the market is expanding is in additional applications. The best example of this is the addition of mobile connectivity to what was historically a fixed network model. A project with Comstar, Armenia which was recently launched is a good example of this. The KTVI, UQC rollout in Japan is another example. These are the cases where a traditional technology that was used for fixed connectivity has been supercharged and enhanced and now provides a platform for mobile computing.
Another example of the market expanding for our products due to initial – additional applications is the arrival of true PCBs connectivity. Previous connectivity provided by our products and those of our competitors all required discrete, separate devices in the customer (inaudible). In the second quarter, we introduced our MiMax device which is a small dongle. It plugs into a PC receiving WiMAX signals in many frequencies and we more importantly received a WiMAX formal certification for this unit, which will combine four frequencies and plugs into any PC with a USB port. This is a significant development for Airspan as the certification process involved over 20 vendors, but success was limited to a small handful of market leaders.
Certification is significant because operators deploying WiMAX can utilize the products with confidence that they will work into a multi-vendor echo system. In addition of the formal certification we completed interoperability testing with the Tier-1 vendor space station at the request of a major customer and we will continue to test with other vendors throughout the year. At the industry level, there is no doubt that the demand for broadband mobile computing is significant.
The successful introduction of the next iPhone has demonstrated to the masses the undeniable market demand for mobile broadband computing. For the mainstream mobile broadband applications, WiMAX is the solution for disruptive carriers. It'll leverage at the early availability to grab market share from the incomings, while they wait for LTE. The WiMAX industry is doing the first completely carry away wireless standard in the last 20 years, and we are doing it far more quickly than it is ever been done before. This mobile broadband application area represents a major increase in addressable market for Airspan.
Antwort auf Beitrag Nr.: 35.203.494 von onkelen am 21.09.08 09:02:59Airspan Continues to Supply Telenor With WiMAX Solutions in Significant Network Expansion
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
bei diesem niedrigen Kurs-Niveau geht der Markt scheinbar von einer Pleite aus?
Antwort auf Beitrag Nr.: 35.235.132 von chiangmai am 23.09.08 15:19:09One Communications Kenya Selects Airspan's WiMAX Infrastructure
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
Antwort auf Beitrag Nr.: 35.352.160 von Turbo23 am 30.09.08 20:08:08Airspan Announces New Range of Subscriber Devices for Mobile WiMAX
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
Airspan, Fujitsu, and Starent Networks Demonstrate Multi-Band WiMAX Network at WiMAX World in Chicago
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
Airspan, Fujitsu, and Starent Networks Demonstrate Multi-Band WiMAX Network at WiMAX World in Chicago
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
Antwort auf Beitrag Nr.: 35.370.596 von Turbo23 am 01.10.08 20:30:12Airspan's WiMAX Selected by Comarch and Promonte for Montenegro Deployment
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
Wer nicht hören will muss fühlen...
Airspan Has Received Notification of NASDAQ's Temporary Suspension of Bid Price Compliance Rule
Monday October 20, 10:37 am ET
BOCA RATON, FL--(MARKET WIRE)--Oct 20, 2008 -- Airspan Networks Inc. (NasdaqGM:AIRN - News), a leading provider of WiMAX based broadband wireless access networks, today announced that it had received notification that NASDAQ has suspended for a three month period the enforcement of the rules requiring a minimum $1 closing bid price or a minimum market value of publicly held shares. NASDAQ has said that it will not take any action to delist any security for these concerns during the suspension. NASDAQ has stated that, given the current extraordinary market conditions, this suspension will remain in effect through Friday, January 16, 2009 and will be reinstated on Monday, January 19, 2009. As a result of this suspension, the Company now has until January 26, 2009 to regain compliance with the minimum bid rule. Airspan previously had until October 22, 2008 to regain such compliance.
Airspan previously received notification from the NASDAQ Stock Market advising that, for the previous 30 consecutive business days, the bid price of the Company's common stock had closed below the minimum $1.00 per share requirement for continued inclusion on The NASDAQ Global Market pursuant to NASDAQ Marketplace Rule 4450(a)(5) (the "Rule").
As a result of the suspension, if, at any time before January 26, 2009, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NASDAQ will provide written notification that it has achieved compliance with the Rule.
If the Company does not regain compliance with the Rule by January 26, 2009, NASDAQ will provide written notification that its securities will be delisted. At that time, the Company may appeal to the NASDAQ's determination to delist its securities to a Listing Qualifications Panel (the "Panel"). The Company may also apply to transfer its securities to The NASDAQ Capital Market if it satisfies the requirements for initial inclusion set forth in Marketplace Rule 4310(c) on such date. If the Company's application is approved, the Company will be afforded the remainder of this market's second 180 calendar day compliance period in order to regain compliance while its common stock remains listed on the NASDAQ Capital Market.
Airspan Has Received Notification of NASDAQ's Temporary Suspension of Bid Price Compliance Rule
Monday October 20, 10:37 am ET
BOCA RATON, FL--(MARKET WIRE)--Oct 20, 2008 -- Airspan Networks Inc. (NasdaqGM:AIRN - News), a leading provider of WiMAX based broadband wireless access networks, today announced that it had received notification that NASDAQ has suspended for a three month period the enforcement of the rules requiring a minimum $1 closing bid price or a minimum market value of publicly held shares. NASDAQ has said that it will not take any action to delist any security for these concerns during the suspension. NASDAQ has stated that, given the current extraordinary market conditions, this suspension will remain in effect through Friday, January 16, 2009 and will be reinstated on Monday, January 19, 2009. As a result of this suspension, the Company now has until January 26, 2009 to regain compliance with the minimum bid rule. Airspan previously had until October 22, 2008 to regain such compliance.
Airspan previously received notification from the NASDAQ Stock Market advising that, for the previous 30 consecutive business days, the bid price of the Company's common stock had closed below the minimum $1.00 per share requirement for continued inclusion on The NASDAQ Global Market pursuant to NASDAQ Marketplace Rule 4450(a)(5) (the "Rule").
As a result of the suspension, if, at any time before January 26, 2009, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NASDAQ will provide written notification that it has achieved compliance with the Rule.
If the Company does not regain compliance with the Rule by January 26, 2009, NASDAQ will provide written notification that its securities will be delisted. At that time, the Company may appeal to the NASDAQ's determination to delist its securities to a Listing Qualifications Panel (the "Panel"). The Company may also apply to transfer its securities to The NASDAQ Capital Market if it satisfies the requirements for initial inclusion set forth in Marketplace Rule 4310(c) on such date. If the Company's application is approved, the Company will be afforded the remainder of this market's second 180 calendar day compliance period in order to regain compliance while its common stock remains listed on the NASDAQ Capital Market.
Wo ist eigentlich der rostige Ritter geblieben, der im Solarworld-Forum immer die Welle macht? Hat sich wohl damit abgefunden dass der Laden hier pleite geht. Sage ich ja schon seit langem aber manche Leute wollen einfach nicht hören...
"Airspan, Der Überflieger der nächsten Jahre"....
So schnell zerplatzen Wimax-Träume. Man fühlt sich fast an den Neuen Markt erinnert...
"Airspan, Der Überflieger der nächsten Jahre"....
So schnell zerplatzen Wimax-Träume. Man fühlt sich fast an den Neuen Markt erinnert...
Leute, die in einen so miserabel geführten Laden investiert haben können einem nur Leid tun. Das Management hat sich im Gegensatz zu den Investoren immer schön die Taschen vollgemacht. Die stehen nun vor dem nichts...
Aber es soll keiner sagen es wurde hier nicht gewarnt.
Aber es soll keiner sagen es wurde hier nicht gewarnt.
Antwort auf Beitrag Nr.: 35.635.049 von rneuerbar am 20.10.08 20:41:43eigentlich steht in dieser Mitteilung doch nur, das das Delisting bis auf Januar verschoben ist und das Airn ein Delisting durch Listing am NASDAQ Capital Market um weitere 6 Monate verhindern kann.
Also kein Grund zur Panik, ich bin jedenfalls gestern zu24 Cent eingestiegen.
Also kein Grund zur Panik, ich bin jedenfalls gestern zu24 Cent eingestiegen.
Airspan avoids[[pre]/[/pre]red] NASDAQ delisting
Listen to this article or download audio file.Click-2-Listen
By RANDY DIAMOND
Palm Beach Post Staff Writer
Monday, October 20, 2008
BOCA RATON — Airspan Networks Inc. said today that it has received a three-month reprieve from a rule that would have resulted in its stock being delisted from the NASDAQ on Wednesday because its share price had fallen below $1 for 30 consecutive business days.
Boca Raton-based Airspan, which provides broadband wireless access services, said NASDAQ has agreed to give it until Jan. 26, 2009 to regain compliance with the minimum bid rule because of the "extraordinary market conditions."
Listen to this article or download audio file.Click-2-Listen
By RANDY DIAMOND
Palm Beach Post Staff Writer
Monday, October 20, 2008
BOCA RATON — Airspan Networks Inc. said today that it has received a three-month reprieve from a rule that would have resulted in its stock being delisted from the NASDAQ on Wednesday because its share price had fallen below $1 for 30 consecutive business days.
Boca Raton-based Airspan, which provides broadband wireless access services, said NASDAQ has agreed to give it until Jan. 26, 2009 to regain compliance with the minimum bid rule because of the "extraordinary market conditions."
0,18 Dollar Schlusskurs USA
Das kann doch langsam nicht mehr wahr sein
Morgen bekommt man in Deutschland wahrscheinlich keine 0,1 mehr dafür.
0,08 oder so, ich sehe das schon .
Also das ist mehr als dramatisch.
Dass sie noch immer so viel cash verbrennen, kann in der aktuellen Finanzkrise natürlich zum Verhängnis werden.
Die Anleger gehen wohl davon aus, dass Airspan die Situation nicht überlebt und in wenigen Quartalen tot ist.
Trauerspiel
Der Letzte macht das Licht aus
Das kann doch langsam nicht mehr wahr sein
Morgen bekommt man in Deutschland wahrscheinlich keine 0,1 mehr dafür.
0,08 oder so, ich sehe das schon .
Also das ist mehr als dramatisch.
Dass sie noch immer so viel cash verbrennen, kann in der aktuellen Finanzkrise natürlich zum Verhängnis werden.
Die Anleger gehen wohl davon aus, dass Airspan die Situation nicht überlebt und in wenigen Quartalen tot ist.
Trauerspiel
Der Letzte macht das Licht aus
Antwort auf Beitrag Nr.: 35.639.773 von chiangmai am 21.10.08 10:31:31Manch einem ist halt einfach nicht zu helfen...
Antwort auf Beitrag Nr.: 35.681.284 von Kanaren2010 am 23.10.08 22:34:08"Das kann doch langsam nicht mehr wahr sein"
Warum? Mich wundert eher dass man überhaupt noch einen Preis zahlt für diesen Schrott. Der Laden ist vermutlich bald Geschichte.
Warum? Mich wundert eher dass man überhaupt noch einen Preis zahlt für diesen Schrott. Der Laden ist vermutlich bald Geschichte.
Antwort auf Beitrag Nr.: 35.681.915 von rneuerbar am 23.10.08 23:28:49schaun wir mal, ich schick Dir ne BM wenn ich meine Airn mit 100% Gewinn verkauft habe.
Antwort auf Beitrag Nr.: 35.681.944 von rneuerbar am 23.10.08 23:32:23übrigens, sollte der Verkaufsdruck heute in USA anhalten, werde ich weiter nachkaufen, das sind die Chancen auf die ich jahrelang gewartet habe.
Trotzdem ist die wahrscheinlichkeit eines Totalverlustes ziemlich hoch, deshalb ist Airn auch nur mit 5% in meinem Depot gewichtet.
Trotzdem ist die wahrscheinlichkeit eines Totalverlustes ziemlich hoch, deshalb ist Airn auch nur mit 5% in meinem Depot gewichtet.
Antwort auf Beitrag Nr.: 35.681.284 von Kanaren2010 am 23.10.08 22:34:08der Kurs in D ist irrelevant!
0,074 werden noch geboten
Also das muss jetzt auch festgehalten werden
10:33:11
24.10.2008 0,074
0,153
Vielleicht werden Montag nur noch 0,03-0,05 geboten, dann kopiere ich das auch rein.
Das kann ich dann irgendwann meinen Enkeln erzählen, damit sie es besser machen, und ihr Geld auf dem Sparbuch lassen
10:33:11
24.10.2008 0,074
0,153
Vielleicht werden Montag nur noch 0,03-0,05 geboten, dann kopiere ich das auch rein.
Das kann ich dann irgendwann meinen Enkeln erzählen, damit sie es besser machen, und ihr Geld auf dem Sparbuch lassen
Oha
Trotz Limit Down Futures USA wird der Handel in den USA regulär eröffnet, das wurde gerade veröffentlicht.
Fake oder Schwarzer Freitag ?
Trotz Limit Down Futures USA wird der Handel in den USA regulär eröffnet, das wurde gerade veröffentlicht.
Fake oder Schwarzer Freitag ?
Antwort auf Beitrag Nr.: 35.685.652 von Kanaren2010 am 24.10.08 11:30:51bezahlt wurden aber 15 Cent, aber wie gesagt, der Kurs in D ist irrelevant.
Aufgrund der Crashartigen Zustände kann das heute in den USA sicher auf 13-15 Cent fallen.
Da werde ich dann noch mal nachlegen!
Aufgrund der Crashartigen Zustände kann das heute in den USA sicher auf 13-15 Cent fallen.
Da werde ich dann noch mal nachlegen!
Antwort auf Beitrag Nr.: 35.687.610 von chiangmai am 24.10.08 13:48:24bezahlt wurden aber 15 Cent
Richtig und falsch
Einer wollte rein und hat 15 geboten, die wurden auch zügig ausgeführt, weil das Irrsinn war.
1) 15 Eurocent lag deutlich über Parallel-Kurs USA um Bereinigung Euro/Dollar
2) Das hat er auch noch bezahlt, obwohl wir crashartige Futures USA haben, Limit down, ausgesetzt
Jetzt werden nur noch 0,074 geboten
Sehen wir eine Rezession über einen längeren Zeitraum, wird Airspan das nicht überleben.
Das ist nun wirklich eindeutug!
Aber kaufe mal fröhlich nach, wenn es Dir Freude macht.
Meine Meinung
Richtig und falsch
Einer wollte rein und hat 15 geboten, die wurden auch zügig ausgeführt, weil das Irrsinn war.
1) 15 Eurocent lag deutlich über Parallel-Kurs USA um Bereinigung Euro/Dollar
2) Das hat er auch noch bezahlt, obwohl wir crashartige Futures USA haben, Limit down, ausgesetzt
Jetzt werden nur noch 0,074 geboten
Sehen wir eine Rezession über einen längeren Zeitraum, wird Airspan das nicht überleben.
Das ist nun wirklich eindeutug!
Aber kaufe mal fröhlich nach, wenn es Dir Freude macht.
Meine Meinung
Oct 24, 2008 09:08 ET
Airspan WiMAX Network Presented to Russian and Armenian Presidents
Presidents Medvedev and Sarkisyan Witness Capabilities of Comstar's Country-Wide WiMAX Network
BOCA RATON, FL--(Marketwire - October 24, 2008) - Airspan Networks, Inc. (NASDAQ: AIRN), a leading provider of WiMAX-based broadband wireless access networks announced that earlier this week, an official ceremony was held in Yerevan, the capital of Armenia, to launch Comstar's nation-wide, WiMAX communications network powered by Airspan equipment. At the ceremony, Comstar's CEO presented Airspan's award-winning MiMAX Q-Series USB devices to Russian President, Dmitry Medvedev and President of Armenia, Serge Sarkisyan.
Comstar, the largest integrated telecommunications provider in Russia and CIS, has deployed Airspan's WiMAX equipment to create a combined fixed and mobile network. The network, which currently comprises 24 base stations, covers Yerevan and 18 additional cities, offering Armenian residents and businesses high-speed Internet, VoIP, video conferencing and mobile services.
During the ceremony, the Presidents of both States participated in a real-time two-way video conference with a medical diagnostics center and were briefed on a pilot deployment for mobile WiMAX in the city of Armavir. Both the video link and the mobile deployment are enabled via Mobile WiMAX links supported by Airspan's EasyST indoor subscriber stations.
Sergey Pridantsev, President and Chief Executive Officer of Comstar UTS, commented: "This national WiMAX network is a unique project for Armenia, and one of the first projects of its kind worldwide. Airspan was able to supply us with a superior solution to meet our requirements, enabling us to deliver modern communications services that help improve quality of life as well as bring telephony services and broadband internet access to some homes for the first time ever."
"We are very proud to partner with Comstar in such a revolutionary project," stated Anders Rendahl, Airspan's Senior Vice President & General Manager EMEA. "The attendance of the Presidents of Russia and Armenia to this ceremony only highlights the importance of the life-changing effects a network such as this can have on a country like Armenia. We look forward to further expansion of the Comstar network in 2009 and to continuing to help revolutionize fixed and mobile communications in this important and growing economy."
About Comstar
Comstar-United TeleSystems JSC is the leading fixed-line telecommunications company in Moscow. Comstar provides voice, data, television and other value-added services to residential and corporate subscribers and operators, using its extensive backbone network and exclusive last mile access to 97% of Moscow households. The Company also offers communications services in five Russian regions, Armenia and Ukraine. Comstar had 3.6 million residential subscribers and 783 thousand residential broadband internet subscribers in Moscow, as well as 49 thousand residential regional and international broadband internet subscribers at the end of June 2008. Comstar generated US$ 834.2 million of revenues and a 39.5% OIBDA margin for the six months ended June 30, 2008. Comstar's Global Depositary Receipts are listed on the London Stock Exchange (ticker: CMST). For details, please visit: http://www.comstar-uts.ru.
About Airspan Networks Inc.
Airspan is the industry's leading WiMAX pure player, ranked #1 for IEEE802.16-2004 WiMAX revenue in 2007 and has now been selected for some of the world's largest mobile WiMAX deployments. With direct sales offices throughout Asia, EMEA and the Americas, a worldwide network of resellers and agents, and partnership alliances with major OEMs, Airspan boasts over 100 commercial WiMAX deployments worldwide. www.airspan.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, financial position, future revenues, projected costs, prospects, plans and objectives of management, may be deemed to be forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions or negative variations thereof are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Investors and others are therefore cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007 and in the Company's 2008 Quarterly Reports on Form 10-Q. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements.
Airspan WiMAX Network Presented to Russian and Armenian Presidents
Presidents Medvedev and Sarkisyan Witness Capabilities of Comstar's Country-Wide WiMAX Network
BOCA RATON, FL--(Marketwire - October 24, 2008) - Airspan Networks, Inc. (NASDAQ: AIRN), a leading provider of WiMAX-based broadband wireless access networks announced that earlier this week, an official ceremony was held in Yerevan, the capital of Armenia, to launch Comstar's nation-wide, WiMAX communications network powered by Airspan equipment. At the ceremony, Comstar's CEO presented Airspan's award-winning MiMAX Q-Series USB devices to Russian President, Dmitry Medvedev and President of Armenia, Serge Sarkisyan.
Comstar, the largest integrated telecommunications provider in Russia and CIS, has deployed Airspan's WiMAX equipment to create a combined fixed and mobile network. The network, which currently comprises 24 base stations, covers Yerevan and 18 additional cities, offering Armenian residents and businesses high-speed Internet, VoIP, video conferencing and mobile services.
During the ceremony, the Presidents of both States participated in a real-time two-way video conference with a medical diagnostics center and were briefed on a pilot deployment for mobile WiMAX in the city of Armavir. Both the video link and the mobile deployment are enabled via Mobile WiMAX links supported by Airspan's EasyST indoor subscriber stations.
Sergey Pridantsev, President and Chief Executive Officer of Comstar UTS, commented: "This national WiMAX network is a unique project for Armenia, and one of the first projects of its kind worldwide. Airspan was able to supply us with a superior solution to meet our requirements, enabling us to deliver modern communications services that help improve quality of life as well as bring telephony services and broadband internet access to some homes for the first time ever."
"We are very proud to partner with Comstar in such a revolutionary project," stated Anders Rendahl, Airspan's Senior Vice President & General Manager EMEA. "The attendance of the Presidents of Russia and Armenia to this ceremony only highlights the importance of the life-changing effects a network such as this can have on a country like Armenia. We look forward to further expansion of the Comstar network in 2009 and to continuing to help revolutionize fixed and mobile communications in this important and growing economy."
About Comstar
Comstar-United TeleSystems JSC is the leading fixed-line telecommunications company in Moscow. Comstar provides voice, data, television and other value-added services to residential and corporate subscribers and operators, using its extensive backbone network and exclusive last mile access to 97% of Moscow households. The Company also offers communications services in five Russian regions, Armenia and Ukraine. Comstar had 3.6 million residential subscribers and 783 thousand residential broadband internet subscribers in Moscow, as well as 49 thousand residential regional and international broadband internet subscribers at the end of June 2008. Comstar generated US$ 834.2 million of revenues and a 39.5% OIBDA margin for the six months ended June 30, 2008. Comstar's Global Depositary Receipts are listed on the London Stock Exchange (ticker: CMST). For details, please visit: http://www.comstar-uts.ru.
About Airspan Networks Inc.
Airspan is the industry's leading WiMAX pure player, ranked #1 for IEEE802.16-2004 WiMAX revenue in 2007 and has now been selected for some of the world's largest mobile WiMAX deployments. With direct sales offices throughout Asia, EMEA and the Americas, a worldwide network of resellers and agents, and partnership alliances with major OEMs, Airspan boasts over 100 commercial WiMAX deployments worldwide. www.airspan.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, financial position, future revenues, projected costs, prospects, plans and objectives of management, may be deemed to be forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions or negative variations thereof are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Investors and others are therefore cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007 and in the Company's 2008 Quarterly Reports on Form 10-Q. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements.
Antwort auf Beitrag Nr.: 16.336.740 von Guru1503 am 09.04.05 18:01:59Hier ist ja auch nichts mehr los,wo seit ihr denn alle.Wimax kommt und Airspan ist dabei!!!!!
Wo seit ihr denn alle.Airspan kommt wieder und ist mit Wimax dabei
Anscheinend hat es jetzt auch der letzte Depp erkannt dass diese Firma ein Haufen Sch... ist...
Antwort auf Beitrag Nr.: 36.056.732 von rneuerbar am 24.11.08 22:32:37Airspan Succeeds in First-Ever Multi-Band Mobile WiMAX Handover
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
.
Airspan bereitet Reverse-Split 5:1 vor
Airspan Announces Shareholder Approval of Reverse Stock Split
BOCA RATON, FL -- (Marketwire) -- 12/17/08 -- Airspan Networks Inc. (NASDAQ: AIRN), a leading provider of WiMAX based broadband wireless access networks, today announced that in a Special Meeting of Shareholders on December 16, 2008, its shareholders overwhelmingly approved a consolidation of the Company's common shares, also known as a reverse stock split. With close to 85% of eligible votes being cast, shareholders voted more than 94% in favor of the principal consolidation resolution. The other two resolutions were also approved.
The shareholders voted to amend the Company's Articles of Incorporation, giving its Board of Directors the authority to effect a reverse stock split at a ratio to be determined within a range of one-for-five shares to one-for-fifteen shares in order to decrease the number of issued and outstanding shares of common Stock. No set date has been established for a reverse stock split at this point.
"We are pleased that our shareholders have given our Board of Directors approval to affect a reverse stock split at such time they deem it necessary and appropriate," said Eric Stonestrom, Airspan's Chief Executive Officer. "We are currently executing our aggressive cost reduction program wherein we expect to reduce our operating expenses to $10 million by the end of Q109, which would represent a reduction of over 20% from third quarter 2008. Our cost reduction program is being driven by the objective to reach profitability while maintaining a strong technology roadmap."
Airspan plays a leading role in the growing WiMAX market. In addition to serving traditional telephone carriers, the company has been actively expanding the vertical segments for its products, including new initiatives in defense, public safety, and the oil and gas segments. WiMAX is gaining momentum in these segments as these industrial groups look to reduce their dependence on traditional carriers for their communication needs. With a comprehensive portfolio of world class products, Airspan has solutions for operators deploying wireless broadband in any frequency band. With core competence and strength in technological innovation, Airspan develops leading-edge broadband solutions for high-speed Internet access and IP-telephony. Airspan currently has deployments in over 100 countries worldwide.
Quelle:
http://app.quotemedia.com/quotetools/newsStory.go?storyId=14…
Y M
.
Airspan bereitet Reverse-Split 5:1 vor
Airspan Announces Shareholder Approval of Reverse Stock Split
BOCA RATON, FL -- (Marketwire) -- 12/17/08 -- Airspan Networks Inc. (NASDAQ: AIRN), a leading provider of WiMAX based broadband wireless access networks, today announced that in a Special Meeting of Shareholders on December 16, 2008, its shareholders overwhelmingly approved a consolidation of the Company's common shares, also known as a reverse stock split. With close to 85% of eligible votes being cast, shareholders voted more than 94% in favor of the principal consolidation resolution. The other two resolutions were also approved.
The shareholders voted to amend the Company's Articles of Incorporation, giving its Board of Directors the authority to effect a reverse stock split at a ratio to be determined within a range of one-for-five shares to one-for-fifteen shares in order to decrease the number of issued and outstanding shares of common Stock. No set date has been established for a reverse stock split at this point.
"We are pleased that our shareholders have given our Board of Directors approval to affect a reverse stock split at such time they deem it necessary and appropriate," said Eric Stonestrom, Airspan's Chief Executive Officer. "We are currently executing our aggressive cost reduction program wherein we expect to reduce our operating expenses to $10 million by the end of Q109, which would represent a reduction of over 20% from third quarter 2008. Our cost reduction program is being driven by the objective to reach profitability while maintaining a strong technology roadmap."
Airspan plays a leading role in the growing WiMAX market. In addition to serving traditional telephone carriers, the company has been actively expanding the vertical segments for its products, including new initiatives in defense, public safety, and the oil and gas segments. WiMAX is gaining momentum in these segments as these industrial groups look to reduce their dependence on traditional carriers for their communication needs. With a comprehensive portfolio of world class products, Airspan has solutions for operators deploying wireless broadband in any frequency band. With core competence and strength in technological innovation, Airspan develops leading-edge broadband solutions for high-speed Internet access and IP-telephony. Airspan currently has deployments in over 100 countries worldwide.
Quelle:
http://app.quotemedia.com/quotetools/newsStory.go?storyId=14…
Y M
.
Antwort auf Beitrag Nr.: 36.276.649 von CosmicTrade am 29.12.08 18:52:25"The shareholders voted to amend the Company's Articles of Incorporation, giving its Board of Directors the authority to effect a reverse stock split at a ratio to be determined within a range of one-for-five shares to one-for-fifteen shares in order to decrease the number of issued and outstanding shares of common Stock. No set date has been established for a reverse stock split at this point."
Der Split wird Airn auch nicht mehr helfen, glaube nicht das hier noch Chancen bestehen.
Der Split wird Airn auch nicht mehr helfen, glaube nicht das hier noch Chancen bestehen.
Airspan selected for WiMAX Network in Okinawa, Japan
Serving residents with high-speed Internet access
Boca Raton, Fla., December 30, 2008 – Airspan Networks, Inc. (Nasdaq: AIRN), a leading
provider of WiMAX-based broadband wireless access networks, announced today that Okinawa
Telemessage Co. Ltd., a leading broadband access service provider in Okinawa, Japan,
launched a WiMAX Network using Airspan solutions with plans to address the fast-growing
demand for high-quality broadband services.
Beginning with Nanjo City, Okinawa Telemessage will provide more than 500,000 households in
Okinawa Prefecture with high-speed broadband access. Operating in the 4.95 GHz frequency
band, the WiMAX network deployment is well underway and, upon completion, will consist of
more than two hundred Airspan base stations spread over Okinawa Island. The Airspan WiMAX
system was selected by Okinawa Telemessage for its flexibility, frequency band availability and
the inherent cost-savings offered by wireless-based broadband infrastructure.
The network was launched in an official inauguration ceremony on December 25th in the city hall
of Nanjo City, Okinawa, Japan. Attending the ceremony were the mayor of Nanjo City, many
government officials and executives from both Okinawa Telemessage and Airspan Networks.
This project benefitted from Japan’s government broadband policy. The government’s ‘u-Japan’
broadband strategy provides for money or tax incentives to cities to deploy broadband with the
hopes of completing full broadband coverage to the entire nation by 2010. Nanjo City provided
Okinawa Telemessage with roof-top property for placement of base stations, as well as cityowned
fiber optic backhauling.
“A robust and reliable infrastructure solution is needed in an island-wide deployment such as
this. Airspan solutions have exceeded our expectations and will help us meet our goals in
expanding broadband services to the entire Okinawa Prefecture,” stated Fumikatu Miyagi,
President and CEO of Okinawa Telemessage Co.
“As we expand our presence in Asia Pacific, we welcome this opportunity in Okinawa,” said
Henrik Smith-Petersen, Airspan’s President of Asia Pacific. “Our WiMAX solutions provide topquality
data services and we are happy to play a part in bringing broadband to the residents of
the island.”
About Okinawa Telemessage, Co. Ltd
Located in Okinawa, Japan, Okinawa Telemessage Co. was established in 1986 as a paging
service provider. Since its inception, the Company has expanded its portfolio and is now
operating as an Internet Service Provider, targeting the overall Okinawa Prefecture with ADSL
and advanced Internet access services.
Quelle:airspan.com
Serving residents with high-speed Internet access
Boca Raton, Fla., December 30, 2008 – Airspan Networks, Inc. (Nasdaq: AIRN), a leading
provider of WiMAX-based broadband wireless access networks, announced today that Okinawa
Telemessage Co. Ltd., a leading broadband access service provider in Okinawa, Japan,
launched a WiMAX Network using Airspan solutions with plans to address the fast-growing
demand for high-quality broadband services.
Beginning with Nanjo City, Okinawa Telemessage will provide more than 500,000 households in
Okinawa Prefecture with high-speed broadband access. Operating in the 4.95 GHz frequency
band, the WiMAX network deployment is well underway and, upon completion, will consist of
more than two hundred Airspan base stations spread over Okinawa Island. The Airspan WiMAX
system was selected by Okinawa Telemessage for its flexibility, frequency band availability and
the inherent cost-savings offered by wireless-based broadband infrastructure.
The network was launched in an official inauguration ceremony on December 25th in the city hall
of Nanjo City, Okinawa, Japan. Attending the ceremony were the mayor of Nanjo City, many
government officials and executives from both Okinawa Telemessage and Airspan Networks.
This project benefitted from Japan’s government broadband policy. The government’s ‘u-Japan’
broadband strategy provides for money or tax incentives to cities to deploy broadband with the
hopes of completing full broadband coverage to the entire nation by 2010. Nanjo City provided
Okinawa Telemessage with roof-top property for placement of base stations, as well as cityowned
fiber optic backhauling.
“A robust and reliable infrastructure solution is needed in an island-wide deployment such as
this. Airspan solutions have exceeded our expectations and will help us meet our goals in
expanding broadband services to the entire Okinawa Prefecture,” stated Fumikatu Miyagi,
President and CEO of Okinawa Telemessage Co.
“As we expand our presence in Asia Pacific, we welcome this opportunity in Okinawa,” said
Henrik Smith-Petersen, Airspan’s President of Asia Pacific. “Our WiMAX solutions provide topquality
data services and we are happy to play a part in bringing broadband to the residents of
the island.”
About Okinawa Telemessage, Co. Ltd
Located in Okinawa, Japan, Okinawa Telemessage Co. was established in 1986 as a paging
service provider. Since its inception, the Company has expanded its portfolio and is now
operating as an Internet Service Provider, targeting the overall Okinawa Prefecture with ADSL
and advanced Internet access services.
Quelle:airspan.com
I.C.E., Costa Rica’s Largest Telecommunications Operator, Awards
Airspan Networks a $12.5 Million WiMAX Contract
I.C.E. has undertaken a substantial residential and business subscriber expansion of nextgeneration
advanced services in the country with Airspan’s WiMAX products
Boca Raton, FL, January 20, 2008 – Airspan Networks Inc. (Nasdaq: AIRN), a leading provider
of WiMAX-based broadband wireless access networks, announced today that I.C.E. (El Instituto
Costarricense de Electricidad) of Costa Rica, the country's main telecommunications operator,
has awarded Airspan Networks a follow-on order worth approximately $12.5 million through its
local partner, Datatell (Datatell 3000 de Costa Rica), for a network expansion and the
deployment of several tens of thousands of CPEs (customer premises equipment).
The network, operating in the 3.5 GHz band, is made up of Airspan WiMAX Forum® Certified
HiperMAX base stations and a combination of ProST outdoor installed CPEs and EasyST selfinstall
desktop units. Together, the equipment will compose a large WiMAX network offering a
broad range of next-generation applications.
“Airspan is excited to continue to supply I.C.E. with solutions for their WiMAX network. We have
been working closely with Datatell to ensure that I.C.E. receives the best comprehensive
solution, not only for the actual WiMAX equipment, but also for network installation,
management and maintenance as well as radio planning. We look forward to an on-going strong
relationship with the company and to continuing to help them quickly achieve their growth
objectives,” stated Amit Ancikovsky, Airspan’s Vice President and General Manager, Americas.
Eric Stonestrom, Airspan’s President and Chief Executive Officer, added, “Incumbent carriers
such as I.C.E. continue to select Airspan to solve their broadband connectivity needs. We are
helping these operators quickly deploy field-proven networks whether overcoming challenging
terrain, serving diverse demographics, or providing a quick return on aggressive business
models.” Stonestrom continued, “Despite the challenging economic times, the business case for
wireless broadband connectivity around the world remains compelling. Airspan’s combination of
strong customer focus and award-winning products continue to create value for our customers.”
Quelle:Airspan.com
Hat jemand Infos über den ersten Auftrag von I.C.E.??
Da es sich ja anscheinend um einen Folgeauftrag handelt.
LG
Eickwood
Airspan Networks a $12.5 Million WiMAX Contract
I.C.E. has undertaken a substantial residential and business subscriber expansion of nextgeneration
advanced services in the country with Airspan’s WiMAX products
Boca Raton, FL, January 20, 2008 – Airspan Networks Inc. (Nasdaq: AIRN), a leading provider
of WiMAX-based broadband wireless access networks, announced today that I.C.E. (El Instituto
Costarricense de Electricidad) of Costa Rica, the country's main telecommunications operator,
has awarded Airspan Networks a follow-on order worth approximately $12.5 million through its
local partner, Datatell (Datatell 3000 de Costa Rica), for a network expansion and the
deployment of several tens of thousands of CPEs (customer premises equipment).
The network, operating in the 3.5 GHz band, is made up of Airspan WiMAX Forum® Certified
HiperMAX base stations and a combination of ProST outdoor installed CPEs and EasyST selfinstall
desktop units. Together, the equipment will compose a large WiMAX network offering a
broad range of next-generation applications.
“Airspan is excited to continue to supply I.C.E. with solutions for their WiMAX network. We have
been working closely with Datatell to ensure that I.C.E. receives the best comprehensive
solution, not only for the actual WiMAX equipment, but also for network installation,
management and maintenance as well as radio planning. We look forward to an on-going strong
relationship with the company and to continuing to help them quickly achieve their growth
objectives,” stated Amit Ancikovsky, Airspan’s Vice President and General Manager, Americas.
Eric Stonestrom, Airspan’s President and Chief Executive Officer, added, “Incumbent carriers
such as I.C.E. continue to select Airspan to solve their broadband connectivity needs. We are
helping these operators quickly deploy field-proven networks whether overcoming challenging
terrain, serving diverse demographics, or providing a quick return on aggressive business
models.” Stonestrom continued, “Despite the challenging economic times, the business case for
wireless broadband connectivity around the world remains compelling. Airspan’s combination of
strong customer focus and award-winning products continue to create value for our customers.”
Quelle:Airspan.com
Hat jemand Infos über den ersten Auftrag von I.C.E.??
Da es sich ja anscheinend um einen Folgeauftrag handelt.
LG
Eickwood
Antwort auf Beitrag Nr.: 36.548.658 von Eickwood am 10.02.09 13:43:07Airspan Selected for County-Wide Municipal and WiMAX Networks in Spain
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
http://www.marketwire.com/press-release/Airspan-Networks-Inc…
Nokia gibt WiMAX keine Chancen mehr
http://pressetext.de/news/090403003/nokia-gibt-wimax-keine-c…
... da passt ja auch diese Meldung von Airpsan ... nach dem PinkSheet wird die Company wohl "abgewickelt"
http://biz.yahoo.com/e/090401/airn8-k.html
http://pressetext.de/news/090403003/nokia-gibt-wimax-keine-c…
... da passt ja auch diese Meldung von Airpsan ... nach dem PinkSheet wird die Company wohl "abgewickelt"
http://biz.yahoo.com/e/090401/airn8-k.html
Antwort auf Beitrag Nr.: 36.915.824 von ustrading am 03.04.09 16:07:35n'abend
ist mir eigentlich egal ...
bin mit EP 0.08 $ ct dabei, und die kiste steigt
aktuell:
4/3/2009 2:22:48 PM Market Open
NASDAQ Last Sale
0.11 0.02 22.27%
Volume
5,707,186
Previous Close
$ 0.09
ist mir eigentlich egal ...
bin mit EP 0.08 $ ct dabei, und die kiste steigt
aktuell:
4/3/2009 2:22:48 PM Market Open
NASDAQ Last Sale
0.11 0.02 22.27%
Volume
5,707,186
Previous Close
$ 0.09
Antwort auf Beitrag Nr.: 36.917.994 von _poseidon am 03.04.09 20:24:00nasdaq delisting means Kursziel 0!!!
@poseidon,
solltest aber nicht mehr zu lange warten, du Profi Trader wenn dir ihr rosa Mäntelchen anhaben, wird es schwer die Dinger wieder los zu werden
solltest aber nicht mehr zu lange warten, du Profi Trader wenn dir ihr rosa Mäntelchen anhaben, wird es schwer die Dinger wieder los zu werden
Antwort auf Beitrag Nr.: 36.918.712 von ustrading am 03.04.09 22:22:39moin
da habe ich aber noch einige tage zeit, deadline ist so um den 20. april, meinte ich.
bis dahin sind diese dinger wieder "drüben"
4/2/2009 Market Closed
NASDAQ Last Sale
0.12 0.03 33.41%
Volume
6,348,788
Previous Close
$ 0.09
Today's High
$ 0.13
Today's Low
$ 0.09
schönes weeky
da habe ich aber noch einige tage zeit, deadline ist so um den 20. april, meinte ich.
bis dahin sind diese dinger wieder "drüben"
4/2/2009 Market Closed
NASDAQ Last Sale
0.12 0.03 33.41%
Volume
6,348,788
Previous Close
$ 0.09
Today's High
$ 0.13
Today's Low
$ 0.09
schönes weeky
Antwort auf Beitrag Nr.: 36.922.639 von _poseidon am 05.04.09 18:25:30americanbulls.com
Totalverlust garantiert!!
Totalverlust garantiert!!
so, nun sind sie wieder drüben.
kam doch ein nettes sümmchen zusammen
EP 0.08, VP: 0.125
GLTA (vor allem an die trader, die heute noch in D gekauft haben)
kam doch ein nettes sümmchen zusammen
EP 0.08, VP: 0.125
GLTA (vor allem an die trader, die heute noch in D gekauft haben)
.
Airspan formiert sich neu...
Neue WKN Germany: A0YBAW
Neue WKN USA: AIRO
http://www.otcbb.com/asp/quote_module.asp?qm_page=59265&symb…
Reverse-Split vollzogen 1-for-15
http://app.quotemedia.com/quotetools/newsStoryPopup.go?story…
Was nun mit den alten Zetteln in Deutschland passiert entzieht sich meiner Kenntnis.
.
Airspan formiert sich neu...
Neue WKN Germany: A0YBAW
Neue WKN USA: AIRO
http://www.otcbb.com/asp/quote_module.asp?qm_page=59265&symb…
Reverse-Split vollzogen 1-for-15
http://app.quotemedia.com/quotetools/newsStoryPopup.go?story…
Was nun mit den alten Zetteln in Deutschland passiert entzieht sich meiner Kenntnis.
.
kann ja nur noch besser werden
oder man hat bald nee spalte weniger im depot
oder man hat bald nee spalte weniger im depot
Airspan Completes Special Shareholder Meeting and
Announces Suspension of Disclosure of Financial Results
BOCA RATON, Florida – (November 5, 2009) – Airspan Networks Inc. (Pink Sheets: AIRO)
announced that it had convened and held its previously adjourned Special Meeting of
Shareholders on November 5, 2009 and that its advisory vote to approve the previously
announced Series C Preferred Stock sale to Oak Investment Partners XI, Limited Partnership
(“Oak”) had passed with 93% of the votes cast voting in favor. The Company completed the
sale of Series C Preferred Stock to Oak for $10 million in cash on October 7, 2009. In addition,
despite strong support from those shareholders who voted, the shareholder vote fell short of
approving an amendment to Oak’s Series B Preferred Stock (the “Series B Amendment”) to
create a 10% carve-out for common shareholders in the event of a liquidation or deemed
liquidation under the terms of the Series B Preferred Stock. Pursuant to the terms of the
Purchase Agreement for the Series C Preferred Stock, Oak will therefore be required to adopt
the Series B Amendment by written consent.
Special Meeting of Shareholders Held on November 5, 2009
The special meeting of shareholders initially convened on October 6, 2009 and was adjourned
for lack of a quorum until October 7, 2009. On October 7 the special meeting was again
adjourned to October 23 as a quorum was still not present. On October 23, 2009 at the
adjourned meeting, a quorum was present but the Company again adjourned the meeting to
allow further shareholder voting until November 5, 2009. On November 5, 2009, the adjourned
meeting was convened and the votes taken.
The votes cast were voted overwhelmingly in favor of both proposals however, the Series B
Amendment received the affirmative vote of only 48.9% of the votes entitled to be cast at the
meeting, just short of the majority required for passage. Oak previously agreed in connection
with the issuance of the Series C Preferred Stock to approve the Series B Amendment by
written consent in lieu of a shareholders meeting. Airspan intends to provide an information
Page 2 of 3
statement to shareholders prior to the effectiveness of the Oak written consent adopting the
Series B Amendment.
Suspension of Disclosure of Financial Results
In light of the recent Series C Preferred Stock sale, Airspan has reconsidered its approach to
public disclosure of its financial results. In order to reduce costs, protect competitive positions in
bids for new contracts and focus more closely on its business, Airspan has determined that it
will cease publicly disclosing financial information effective immediately. As a result, Airspan
will not publish financial results for the third quarter of 2009 or the full year 2009. The Company
will however continue to press release customer and product initiatives.
Airspan expects that it will be placed in the Pink Sheets “no information” tier by the end of 2009.
Consequently, it is possible that Airspan common stock may no longer be eligible for quotation
under Rule 15c2-11 which lists specified information, including reasonably current financial
statements (within six months), which must be available before a broker can offer a quote for a
company’s common stock. Airspan’s determination to cease publicly reporting its financial
information could adversely affect the liquidity of the market for, and market prices of, its
common stock.
On March 31, 2009, Airspan announced that it would delist from NASDAQ and deregister under
the Securities Exchange Act of 1934 (“Exchange Act”), and on April 20, 2009, it filed a Form 15
to complete the deregistration process which became effective 90 days later on July 19, 2009.
Since that time Airspan has not been subject to the reporting requirements of the Exchange Act
and is no longer required to file reports or proxy statements or any other information thereunder.
Airspan’s common stock currently trades in the “limited information” tier of the Pink Sheets.
Quelle: Airspan
Announces Suspension of Disclosure of Financial Results
BOCA RATON, Florida – (November 5, 2009) – Airspan Networks Inc. (Pink Sheets: AIRO)
announced that it had convened and held its previously adjourned Special Meeting of
Shareholders on November 5, 2009 and that its advisory vote to approve the previously
announced Series C Preferred Stock sale to Oak Investment Partners XI, Limited Partnership
(“Oak”) had passed with 93% of the votes cast voting in favor. The Company completed the
sale of Series C Preferred Stock to Oak for $10 million in cash on October 7, 2009. In addition,
despite strong support from those shareholders who voted, the shareholder vote fell short of
approving an amendment to Oak’s Series B Preferred Stock (the “Series B Amendment”) to
create a 10% carve-out for common shareholders in the event of a liquidation or deemed
liquidation under the terms of the Series B Preferred Stock. Pursuant to the terms of the
Purchase Agreement for the Series C Preferred Stock, Oak will therefore be required to adopt
the Series B Amendment by written consent.
Special Meeting of Shareholders Held on November 5, 2009
The special meeting of shareholders initially convened on October 6, 2009 and was adjourned
for lack of a quorum until October 7, 2009. On October 7 the special meeting was again
adjourned to October 23 as a quorum was still not present. On October 23, 2009 at the
adjourned meeting, a quorum was present but the Company again adjourned the meeting to
allow further shareholder voting until November 5, 2009. On November 5, 2009, the adjourned
meeting was convened and the votes taken.
The votes cast were voted overwhelmingly in favor of both proposals however, the Series B
Amendment received the affirmative vote of only 48.9% of the votes entitled to be cast at the
meeting, just short of the majority required for passage. Oak previously agreed in connection
with the issuance of the Series C Preferred Stock to approve the Series B Amendment by
written consent in lieu of a shareholders meeting. Airspan intends to provide an information
Page 2 of 3
statement to shareholders prior to the effectiveness of the Oak written consent adopting the
Series B Amendment.
Suspension of Disclosure of Financial Results
In light of the recent Series C Preferred Stock sale, Airspan has reconsidered its approach to
public disclosure of its financial results. In order to reduce costs, protect competitive positions in
bids for new contracts and focus more closely on its business, Airspan has determined that it
will cease publicly disclosing financial information effective immediately. As a result, Airspan
will not publish financial results for the third quarter of 2009 or the full year 2009. The Company
will however continue to press release customer and product initiatives.
Airspan expects that it will be placed in the Pink Sheets “no information” tier by the end of 2009.
Consequently, it is possible that Airspan common stock may no longer be eligible for quotation
under Rule 15c2-11 which lists specified information, including reasonably current financial
statements (within six months), which must be available before a broker can offer a quote for a
company’s common stock. Airspan’s determination to cease publicly reporting its financial
information could adversely affect the liquidity of the market for, and market prices of, its
common stock.
On March 31, 2009, Airspan announced that it would delist from NASDAQ and deregister under
the Securities Exchange Act of 1934 (“Exchange Act”), and on April 20, 2009, it filed a Form 15
to complete the deregistration process which became effective 90 days later on July 19, 2009.
Since that time Airspan has not been subject to the reporting requirements of the Exchange Act
and is no longer required to file reports or proxy statements or any other information thereunder.
Airspan’s common stock currently trades in the “limited information” tier of the Pink Sheets.
Quelle: Airspan
hallo gibt es keine chance mehr für den überflieger, man sollte doch nicht solche riskante aktien ins depot legen, könnte mich in den hintern beißen
ist noch wer investiert... news...
flieger abgestürtzt
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