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Earnings: Openwave Revs Slide 16 Percent; Turns Profit On Asset Sale

Mobile software firm Openwave (NSDQ: OPWV) announced revenue of $63.2 million for its quarter ended December 31, down 16 percent year-over-year from $75.7 million. On a sequential basis, revenues were flat. The company earned $4.8 million in this quarter, but this included $16.45 million in one-time gains on the sale of a discontinued operation. The company announced in November that it would sell its Musiwave service to Microsoft; that deal closed on the last day of the quarter. Excluding the one-time gain, the company would have lost $11.3 million, compared to a loss of $13.8 million in the year-ago period.

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