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 : Wi-LAN Inc. (T.WIN) -- Ignore unavailable to you. Want to Upgrade?

To: Hatim Zaghloul who wrote (57)	3/31/1999 8:48:00 PM
From: Uptickin	Respond to of 16863

NEWS!!!!! Mr. Zagloul: Thank you for the nice review of the wireless industry. Happy investing, Uptickin For Immediate Release Wi-LAN Inc. Announces 1999 First Quarter Results Wi-LAN solidifies US $36 million contract in Sweden, announces completion of 30 Mbps wireless W-OFDM prototype, company restructured to focus on IP wireless local loop business Calgary, Alberta, Canada (March 31, 1999) - Wi-LAN Inc. today announced the results for its January 31, 1999 first quarter. The quarter was highlighted with a corporate wide restructuring to focus on Internet Protocol (IP) wireless local loop business, a contract for US $36 Million over three years with Swedish-based Telia GlobalCast internetworking, AB, and the completion of a 30 Mbps wireless W-OFDM prototype with product to be launched in June 1999. In the first three months of 1999, the Company had revenue of $1,060,000, compared to $1,424,000 in 1998. Product sales decreased to $1,054,000 from last year?s $1,316,000. The operating loss and net loss were $1,243,000 or $0.07 per share, compared to an operating loss of $592,000 and a net loss of $1,177,000 or $0.08 per share in 1998. The increase in the operating loss reflects the lower revenue combined with a slightly lower gross margin, and increased expenses in particular for research and development. The shipments to Tele2 UK are slower than originally anticipated. Transitioning product from private to public network product was more demanding than expected. This together with Tele2 UK start-up issues caused delays in the order and shipment of the product. Wi-LAN has started discussions with a number of large companies for the development of IP Wireless Local Loop networks. This type of contract is larger than those handled by Wi-LAN in Q1 1998 and take a longer time to close. These issues have generated lower revenues in the first quarter. "The challenges experienced have made Wi-LAN products and contracts stronger in the long run, increasing the competitive barrier against other competitors entering the high-speed wireless public network market," says Hatim Zaghloul, Wi-LAN president and CEO. "We expect Tele2 UK and Telia shipments to increase in the second quarter." On January 12, 1999, Wi-LAN announced the completion of a three-month restructuring plan in order to focus on providing Wireless Local Loop and W-OFDM technology and products on those areas where the company has displayed market leadership. The success with the large-scale wireless project in the UK, establishes Wi-LAN as a technology leader in developing IP packet-based switching networks. The company is currently experiencing increasing demand for Wireless Local Loop systems and W-OFDM, patented technology and world draft standard. Wi-LAN will now focus on delivering its innovative technology in licensed and unlicensed frequency bands for high-speed wireless networking products that are proving popular in large-scale networks in numerous developed and developing countries. Wi-LAN Inc announced in January the receipt of two purchase orders totaling US $550,000 from Telia GlobalCast internetworking for IP wireless local loop products to expand a national high-speed wireless network in Sweden and several other European countries. The purchase orders are part of restructuring the existing agreement to include other Nordic States and anticipated product orders for US $3,000,000 in the year 1999, US $9,000,000 in the year 2000 and US $24,000,000 in the year 2001. On November 16, 1998, Wi-LAN announced a fully-functional prototype wireless unit capable of unprecedented speeds of 30 megabits per second (Mbps). The prototype marks a vital step towards commercializing high-speed wireless networking products based on the company?s patented W-OFDM (Wide-band Orthogonal Frequency Division Multiplexing) technology. W-OFDM uses a broader frequency band and allows much larger throughputs than conventional OFDM. Products based on the prototype will be available by June 1999. About Wi-LAN Inc. Wi-LAN delivers high-speed wireless data communications products that feature consistent high performance, easy installation and superior quality at significantly lower costs than traditional wire-based networking alternatives. Wi-LAN provides infrastructure and high-speed networking equipment for public and private wireless data networks. The company?s Hopperand Hopper Plus products have been sold in more than 30 countries on six continents. Wi-LAN shares trade on the Alberta Stock Exchange under the symbol WIN. Detailed information on Wi-LAN can be found on the Web at wi-lan.com For more information, please contact: Wanda Posehn Dan Patience Wi-LAN Inc. Noble House Investments Ph: (403) 273-9133 (403) 262-7111 wandap@wi-lan.com noblehouse@home.com The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. -30-