Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Netro Corp - (NTRO) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Oliver who wrote (729)	7/19/2000 9:10:05 PM
From: Martin Muldoon	Read Replies (2) \| Respond to of 792

Mark, Blow out quarter! Netro Announces Record Revenues for Second Quarter Broadband Wireless Access Solution Leader Named to Russell 2000 Index SAN JOSE, Calif., Jul 19, 2000 (BUSINESS WIRE) -- Netro Corporation (Nasdaq: NTRO chart, msgs), a market leader in broadband wireless access systems, today announced record revenues of $15.5 million for the quarter ended June 30, 2000. This compares with $3.2 million in revenues for the second quarter of 1999 and is an increase of 385 percent from the same period last year. On a sequential basis, Netro's revenues for the second quarter were up 48 percent from the first quarter of 2000. Net loss for the second quarter of 2000 was $819,000, or $.02 loss per share, compared with $7.3 million, or a pro forma $0.19 loss per share, for the second quarter of 1999. "This record growth for Netro confirms the strong customer demand we are continuing to see on a worldwide basis for our leading-edge, broadband wireless technology as the access solution for last mile IP and high speed data applications," said Gideon Ben-Efraim, chairman and chief executive officer for Netro. "This dynamic market is at an inflection point now and we are the first mover. Cisco and Nokia have joined Lucent, Motorola and Siemens in confirming our leadership position by choosing Netro's AirStar(TM) system for their broadband wireless access needs." During the quarter, the company announced an original equipment manufacturer (OEM) agreement with Nokia, one of the largest telecommunications providers in the world. In addition, Cisco, the world's leading supplier of Internet infrastructure equipment, announced a strategic partnership with Netro. In other news, Netro was notified last week that the company has been selected to the Russell(R) 2000 Index when the broad-market index was re-balanced on June 30. Index membership was in effect on July 1 and remains in place for one year.