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. 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, TheStreet.com
Commentary: Openwave Posts Earnings & Names New CFO • Openwave Systems: Correction Unjustified, Shares On Sale • What Will Oracle Buy Next?
Stocks/ETFs to watch: OPWV. Competitors: CMVT.PK, MSFT, NOK
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