Wi-LAN third quarter results
Wi-LAN Inc WIN
Shares issued 18,688,170 Sep 15 close $9.90
Thu 16 Sept 99 News Release
Ms. Wanda Posehn reports
In the first nine months of 1999, Wi-LAN had revenue of $4,475,000,
compared with $4,639,000 in 1998. Product sales for the nine months
increased to $4,516,000 from last year's $4,226,000. The operating loss and
net loss were $2,914,000 or 15 cents per share, compared with an operating
loss of $2,846,000 and a net loss of $3,994,000 or 22 cents per share in
1998.
On July 21, 1999, Wi-LAN sold a $15,000,005 private placement of 1,960,785
special warrants at a price of $7.65 per special warrant through a
syndicate of Canadian underwriters led by Sprott Securities Limited. Each
special warrant is exercisable, without payment of any additional
consideration, into one common share of Wi-LAN.
On June 22, 1999, Wi-LAN launched I.WiLL -- a wireless access point capable
of unprecedented speeds of 30 megabits per second. Targeting the demand for
Internet wireless local loop products, the I.WiLL access point is designed
to meet the stringent, industrial-strength demands of large network
operators including telcos, fibrecos, cablecos and major Internet service
providers. I.WiLL's wireless technology holds many advantages over copper
wire landlines, including low-cost, rapid installation and scalability,
which translates into near immediate return on investment. At three times
the speed of the popular 10 Mbps ethernet networks, I.WiLL operates in the
2.4-2.4835 gigahertz licence-exempt ISM band allowing telecom suppliers to
provide wireless networking connectivity at a fraction of wire, cable or
fibre networking costs. I.WiLL is Wi-LAN's first high-speed wireless
networking product that uses the company's patented Wide-band Orthogonal
Frequency Division Multiplexing (W-OFDM) technology. W-OFDM uses a broader
frequency band and allows much larger throughputs than conventional OFDM.
On July 8, 1999, Wi-LAN announced that negotiations are progressing
regarding the signed non-binding agreements focused on joint product
development and licencing its patented W-OFDM technology.
Wi-LAN was honoured for its pioneering work in wireless technology at the
Canadian Advanced Technology Association awards ceremony the evening of
June 8 in Calgary. Dr. Hatim Zaghloul, Wi-LAN co-founder and president
accepted the Emerging Technology Award of Distinction on behalf of the
company for the groundbreaking development of its patented W-OFDM radio
frequency technology that opens the door to a wide range of wireless
applications.
Dr. Zaghloulwas named a technically excellent Canadian for his pioneering
work in wireless technology at an awards ceremony at Comdex/Canada in
Toronto on July 14. Dr. Zaghloul received the award for his groundbreaking
development of Wi-LAN's patented W-OFDM technology that opens the door to a
wide range of wireless applications. |
