Earnings: Openwave Q1 Revenues Fall 24 Percent; Net Loss Narrows 40 Percent on Cost Cutting

Struggling mobile software provider Openwave (NSDQ: OPWV) saw its Q108 revenues fall 24 percent to $63 million from $83.8 million last year. A steep drop in license and service revenue accounted for most of the shortfall, while maintenance and support held steady. Net losses on a continuing basis shrunk 40 percent to $14.1 million ($.17 per share) from $24.5 million ($.22), helped by lower R&D, SG&A and restructuring costs. Excluding a number of other charges associated with restructuring, the company lost $3.4 million ($.04 per share).

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