Earnings: NextWave Revenues Up 66 Percent, Operational Loss Up 129 Percent

NextWave has released its second quarter results for the three months ending June 30. Revenues for the second quarter increased 103 percent year-on-year to $12.8 million, which represents a 66 percent increase sequentially. However, net loss from operations increased 129 percent year-on-year to $59.5 million for the second quarter. This is $18.4 million higher than in the first quarter this year. “The company has lost more than $114.7 million in the first six months of 2007, a drastic increase from the $38.1 million it lost in the first six months of the previous year” notes RCR News. NextWave attributed the loss to increased operating expenses relating to the expansion of research and development teams and related support organizations. NextWave bought IPWireless back in April.
Earnings Release

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