NextWave Posts US$108mn Loss in Q3

US WiMax equipment and solutions provider NextWave Wireless posted a net loss of US$108mn in the third quarter of 2007 compared to a net loss of US$31.8mn in the year-ago period.

Net revenues came in at US$17.8mn in 3Q07, an increase of 166% compared to US$6.6mn in the same period last year, the company said in a statement.

NextWave attributed the bigger loss to expenses incurred in the acquisitions of the GO Networks and IPWireless businesses during the first half of the year, and from the integration of the operations of those businesses.

In July, NextWave launched operations in Latin America through its NextWave Wireless Latin America subsidiary. The unit currently offers mobile broadband and wireless technology solutions to customers throughout the region.

NextWave Latin America's president Rafael Steinhauser previously told BNamericas that in an initial phase the company will target clients in Brazil, Mexico, Argentina, Colombia, Venezuela, Chile and Peru.

NextWave Wireless develops next-generation wireless broadband products and technologies for mobile device and network equipment manufacturers and for wireless service operators. Through its NextWave Broadband subsidiary, the company is developing a portfolio of semiconductor and network component products based on WiMax and Wi-Fi technologies.

Posted to the site on 20th November 2007