WiMax equipment-maker Alvarion has reported a wider second quarterly loss and said its President and CEO Tzvika Friedman is requesting to resign from the position, but will stay on board until a replacement is found, reported the Washington Post. The Israeli-based company had a net loss of $4 million, or 6 cents a share, compared with a loss of $812,000, or 1 cent a share, in the same period last year. Sales fell 16 percent to $58.7 million. Alvarion has recently secured large contracts in the U.S. and Italy, and is therefore forecasting a Q3 net loss of 2 to 9 cents, and may even earn 1 cent a share excluding one-time items. In a statement, Friedman, who has been with Alvarion for 10 years, including four as CEO, said he would spend time with family and pursue personal and business interests.
WiMax Equipment Maker Alvarion’s CEO Quits
The Israeli-based company reported sales decline of 16%.
July 31, 2009