Openwave Systems Inc. a vendor of Wireless Application Protocol (WAP) and
other mobile communications infrastructure products, said Thursday that it turned a profit for
the fiscal quarter that ended March 31.
The company’s revenues for the quarter increased about 19 percent over the previous quarter
to $130 million. Pro forma earnings for the quarter were $16.3 million however, it had a net loss
of $151.2 million after including merger and acquisition-related charges and other charges. That
amounted to $.91 per share compared to a net loss of $1.38 per share the previous quarter.
Openwave was formed late last year by the merger of Phone.com and Software.com. Phone.com
had been a WAP pioneer but had been staggering because of slow acceptance of that wireless
technology.
In its statement, the company said that it expected revenues to grow between 10 and 20
percent for the rest of the current calendar year, with total revenues of about $640 million.
That would result in pro forma earnings of about $.46 per share, excluding merger, acquisition
and other charges.