Openwave Loss Widens, Sales Fall, New Executives Named

| About: Great Elm (GEC)

Openwave Systems reported its fiscal 4Q net loss expanded to $91.8 million ($1.11/share), partially attributed to discontinued operations and other one-off items. Its adjusted per share loss of $0.13 was two cents better than analyst expectations. OPWV-EarningsChart-8-3-2007 Sales fell 18.4% to $68.1m, compared to analysts' average estimate of $71.2m. Openwave reported a one-to-one book-to-bill ratio. Regarding its executive management, Openwave said Dr. Jean-Yves Dexmier was named chief financial officer, replacing Harold Covert, who left for personal reasons. Former Nortel executive John Boden was named senior vice president of product management. Also, Michael Wallis-Brown, a former Nokia executive, was selected as general manager for the Asia-Pacific region. Shares of Openwave fell less than 1% to $5.30 in light extended trading Thursday, after gaining 2.5% to $5.35 during the regular session.

Sources: Press release, MarketWatch,
Commentary: Openwave Posts Earnings & Names New CFOOpenwave Systems: Correction Unjustified, Shares On SaleWhat Will Oracle Buy Next?
Stocks/ETFs to watch: OPWV. Competitors: CMVT.PK, MSFT, NOK

Seeking Alpha's news briefs are combined into a pre-market summary called Wall Street Breakfast. Get Wall Street Breakfast by email -- it's free and takes only seconds to sign up.

About this article:

Tagged: , Application Software, Earnings
Problem with this article? Please tell us. Disagree with this article? .