Alvarion Ltd. (NASDAQ:ALVR), the world’s leading provider of
WiMAX™ and wireless broadband solutions, today announced financial
results for the second quarter ended June, 30, 2009.
Strategic highlights include:
-
Several large deal wins not yet reflected in results
-
Expansion of the partnership with NSN
-
Progress in turnkey projects capabilities and deal wins
-
Expense reduction target achieved, further lowering breakeven level
Q2 Financial Highlights:
-
WiMAX shipments down 11% from Q2 2008 to $39.2 million
-
WiMAX revenues up 18% from Q2 2008 to $44.9 million
-
GAAP net loss of ($0.06); non-GAAP net loss of ($0.01)
In the second quarter of 2009, total revenues were $58.7 million, a
decrease of 13% from $67.9 million in the first quarter of 2009, and a
decrease of 16% from $69.7 million in the second quarter of 2008.
GAAP net loss in the second quarter of 2009 was ($4.0) million, or
($0.06) per share, including net charges of $1.7 million mainly in
connection with the organizational changes implemented in April 2009,
compared to net loss of ($852,000), or ($0.01) per share in Q1 2009.
GAAP net loss in the second quarter of 2008 was ($812,000), or ($0.01)
per share.
Excluding the amortization of intangibles, stock based compensation
expenses, and net charges in Q2 2009, on a non-GAAP basis, the company
reported a net loss in the second quarter of 2009 of approximately
($605,000), or ($0.01) per diluted share, compared with non-GAAP net
income of $754,000, or $0.01 per diluted share in the first quarter of
2009, and non-GAAP net income of approximately $1.7 million, or $0.03
per diluted share in Q2 2008.
Cash used in operations was ($2.2) million. As of June 30, 2009, cash,
cash equivalents and investments were $132 million. For supplemental
information to facilitate evaluation of the impact of net charges and
comparisons with historical results of operations, see the attached
table showing the detailed reconciliation of GAAP to non-GAAP results
for Q2 2009, and the comparative periods.
Comments from Management
“We are encouraged by the improvement in order intake during the second
quarter as well as by several major strategic customer wins which we
expect to translate into hundreds of millions of dollars in future
revenues,” said Tzvika Friedman, President and CEO of Alvarion. “We
continued to reduce operating expenses and carefully manage our working
capital in Q2, positioning the company for profit margin expansion when
revenue growth resumes. We expect gradual improvement in profitability
during the second half of 2009, accelerating next year.
Long-term growth drivers continue to support WiMAX demand. These
include: low broadband penetration in many countries, continuing growth
in demand for mobile computing in developed markets, improving operator
business case due to declining cost and widespread availability and
types of subscriber devices, and upcoming spectrum auctions in several
key countries. We are pleased with the level of sales activity, and
requests for proposals and new project opportunities are increasing, as
governments around the world invest alongside private industry to
encourage broadband availability and stimulate the economy. However,
sales cycles remain quite long, and it is difficult to predict how
rapidly these projects will move forward. After we win a deal, it takes
time until we receive orders that are translated to shipments and, in
turn, into revenues. Meanwhile, we believe that our industry position is
very strong, and our determination to control costs and win more deals
has never been stronger.”
Q3 2009 Guidance.
The company’s revenue guidance for Q3 2009 is from $53 to $63 million.
Based on the indicated revenue range and, due to reduction in expenses,
Q3 non-GAAP per share results are expected to range between a loss of
($0.06) and profit of $0.01. GAAP per share results are expected to
range between a loss of ($0.09) and ($0.02).
Alvarion management will host a conference call today, July 29, at 9:00
a.m. Eastern time to discuss the quarter.
|
Please call the following dial in number to participate:
|
|
USA: (800) 230-1093; International: +1-(612)
332-0107.
|
The public is invited to listen to the live webcast of the conference
call.
For details please visit Alvarion’s website at www.alvarion.com.
An archive of the online broadcast will be available on the website.
A replay of the call will be available from 10:00 a.m. EDT on July 29,
2009 through 11:59 p.m. EDT on August 29, 2009.
|
To access the replay, please call:
|
|
USA: (USA) (800) 475-6701;
|
|
International: +1(320) 365-3844.
|
|
To access the replay, users will need to enter the following code: 106462.
|
Alvarion has scheduled dates for the earnings announcements during 2009
and this schedule is available on the website at http://www.alvarion.com/investors/earnings/.
|
ALVARION LTD. & ITS SUBSIDIARIES
|
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
U.S. dollars in thousands (except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six
|
|
|
Six
|
|
|
Three
|
|
|
Three
|
|
|
Three
|
|
|
|
|
Months Ended
|
|
|
Months Ended
|
|
|
Months Ended
|
|
|
Months Ended
|
|
|
Months Ended
|
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
June 30,
|
|
|
June 30,
|
|
|
March 31,
|
|
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales
|
|
$
|
126,615
|
|
|
$
|
136,908
|
|
|
$
|
58,741
|
|
|
$
|
69,740
|
|
|
$
|
67,874
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales
|
|
|
69,327
|
|
|
|
69,934
|
|
|
|
32,089
|
|
|
|
35,591
|
|
|
|
37,238
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
57,288
|
|
|
|
66,974
|
|
|
|
26,652
|
|
|
|
34,149
|
|
|
|
30,636
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development, net
|
|
|
27,419
|
|
|
|
30,904
|
|
|
|
12,779
|
|
|
|
15,791
|
|
|
|
14,640
|
|
|
Selling and marketing
|
|
|
26,341
|
|
|
|
29,559
|
|
|
|
12,970
|
|
|
|
14,905
|
|
|
|
13,371
|
|
|
General and administrative
|
|
|
7,746
|
|
|
|
9,309
|
|
|
|
3,723
|
|
|
|
4,696
|
|
|
|
4,023
|
|
|
Amortization of intangible assets
|
|
|
66
|
|
|
|
1,266
|
|
|
|
33
|
|
|
|
633
|
|
|
|
33
|
|
|
Restructuring and other related expenses (*)
|
|
|
919
|
|
|
|
|
|
|
919
|
|
|
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating expenses
|
|
|
62,491
|
|
|
|
71,038
|
|
|
|
30,424
|
|
|
|
36,025
|
|
|
|
32,067
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss
|
|
|
(5,203
|
)
|
|
|
(4,064
|
)
|
|
|
(3,772
|
)
|
|
|
(1,876
|
)
|
|
|
(1,431
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other loss
|
|
|
(749
|
)
|
|
|
-
|
|
|
|
(749
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial income, net
|
|
|
1,097
|
|
|
|
2,651
|
|
|
|
518
|
|
|
|
1,064
|
|
|
|
579
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
|
(4,855
|
)
|
|
|
(1,413
|
)
|
|
|
(4,003
|
)
|
|
|
(812
|
)
|
|
|
(852
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net loss per share:
|
|
$
|
(0.08
|
)
|
|
$
|
(0.02
|
)
|
|
$
|
(0.06
|
)
|
|
$
|
(0.01
|
)
|
|
$
|
(0.01
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares
used in computing basic net
loss per share
|
|
|
61,971
|
|
|
|
63,099
|
|
|
|
61,995
|
|
|
|
63,140
|
|
|
|
61,948
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net loss per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
(0.08
|
)
|
|
$
|
(0.02
|
)
|
|
$
|
(0.06
|
)
|
|
$
|
(0.01
|
)
|
|
$
|
(0.01
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares
used in computing diluted
net loss
per share
|
|
|
61,971
|
|
|
|
63,099
|
|
|
|
61,995
|
|
|
|
63,140
|
|
|
|
61,948
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(*) Results of the organizational change implemented in April 2009.
|
|
ALVARION LTD. & ITS SUBSIDIARIES
|
|
RECONCILIATION BETWEEN GAAP TO NON-GAAP STATEMENT OF INCOME
|
|
U.S. dollars in thousands (except per share data)
|
|
|
|
|
|
|
|
|
|
Three
|
|
|
|
|
|
Three
|
|
|
|
|
|
|
|
Months Ended
|
|
|
|
|
|
Months Ended
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
|
|
March 31,
|
|
|
|
|
|
|
|
2009
|
|
|
|
|
|
2009
|
|
|
|
|
GAAP
|
|
|
Adjustments
|
|
|
Non-GAAP
|
|
|
Non-GAAP
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales
|
|
$
|
58,741
|
|
|
$
|
-
|
|
|
|
58,741
|
|
|
$
|
67,874
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales
|
|
|
32,089
|
|
|
|
(143
|
)
|
(a)
|
|
31,946
|
|
|
|
37,111
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
26,652
|
|
|
|
143
|
|
|
|
26,795
|
|
|
|
30,763
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development, net
|
|
|
12,779
|
|
|
|
(545
|
)
|
(a)
|
|
12,234
|
|
|
|
14,135
|
|
Selling and marketing
|
|
|
12,970
|
|
|
|
(506
|
)
|
(a)
|
|
12,464
|
|
|
|
12,921
|
|
General and administrative
|
|
|
3,723
|
|
|
|
(503
|
)
|
(a)
|
|
3,220
|
|
|
|
3,532
|
|
Amortization of intangible assets
|
|
|
33
|
|
|
|
(33
|
)
|
(b)
|
|
-
|
|
|
|
-
|
|
Restructuring and other related expenses
|
|
|
919
|
|
|
|
(919
|
)
|
(c)
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating expenses
|
|
|
30,424
|
|
|
|
(2,506
|
)
|
|
|
27,918
|
|
|
|
30,588
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit (loss)
|
|
|
(3,772
|
)
|
|
|
2,649
|
|
|
|
(1,123
|
)
|
|
|
175
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other loss
|
|
|
(749
|
)
|
|
|
749
|
|
(d)
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial income, net
|
|
|
518
|
|
|
|
-
|
|
|
|
518
|
|
|
|
579
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
(4,003
|
)
|
|
|
3,398
|
|
|
|
(605
|
)
|
|
|
754
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net earnings (loss) per share
|
|
$
|
(0.06
|
)
|
|
|
|
|
|
(0.01
|
)
|
|
$
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares used in computing basic net
earnings (loss) per share
|
|
|
61,995
|
|
|
|
|
|
|
61,995
|
|
|
|
61,948
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net earnings (loss) per share
|
|
$
|
(0.06
|
)
|
|
|
|
|
|
(0.01
|
)
|
|
$
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares used in computing diluted net
earnings (loss) per share
|
|
|
61,995
|
|
|
|
|
|
|
61,995
|
|
|
|
62,468
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) The effect of stock-based compensation. The Company adopted
the provisions of Statement of Financial Accounting
Standards
No. 123(R), "Share-Based Payment" on January 1, 2006 using the
modified-prospective transition method.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(b) The effect of amortization of intangible assets.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(c) Results of the organizational change implemented in April 2009.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(d) Other one-time charges, net.
|
|
ALVARION LTD. & ITS SUBSIDIARIES
|
|
|
|
DISCLOSURE OF NON-US GAAP NET INCOME
|
|
|
|
FOR COMPARATIVE PURPOSES NET INCOME AND EARNINGS PER SHARE FROM
CONTINUING OPERATIONS EXCLUDING
AMORTIZATION OF
ACQUIRED INTANGIBLES, STOCK BASED COMPENSATION EXPENSES,
RESTRUCTURING EXPENSES AND
ONE TIME CHARGES
|
|
|
|
U.S. dollars in thousands (except per share data)
|
|
|
|
|
|
|
Six
|
|
|
Six
|
|
|
Three
|
|
|
Three
|
|
|
Three
|
|
|
|
|
Months Ended
|
|
|
Months Ended
|
|
|
Months Ended
|
|
|
Months Ended
|
|
|
Months Ended
|
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
June 30,
|
|
|
June 30,
|
|
|
March 31,
|
|
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) according to US GAAP
|
|
$
|
(4,855
|
)
|
|
$
|
(1,413
|
)
|
|
$
|
(4,003
|
)
|
|
$
|
(812
|
)
|
|
$
|
(852
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of acquired intangibles
|
|
|
66
|
|
|
|
1,266
|
|
|
|
33
|
|
|
|
633
|
|
|
|
33
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock based compensation expenses related to SFAS 123R
|
|
|
3,270
|
|
|
|
3,880
|
|
|
|
1,697
|
|
|
|
1,867
|
|
|
|
1,573
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring and other related expenses (*)
|
|
|
919
|
|
|
|
-
|
|
|
|
919
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other loss
|
|
|
749
|
|
|
|
-
|
|
|
|
749
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (loss) excluding amortization of acquired
intangibles, stock
based compensation and
restructuring expenses
|
|
$
|
149
|
|
|
$
|
3,733
|
|
|
$
|
(605
|
)
|
|
$
|
1,688
|
|
|
$
|
754
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net earnings (loss) per share excluding amortization of
acquired
intangibles, stock based compensation and
restructuring expenses
|
|
$
|
0.00
|
|
|
$
|
0.06
|
|
|
$
|
(0.01
|
)
|
|
$
|
0.03
|
|
|
$
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares used in computing basic net
earnings (loss)
per share
|
|
|
61,971
|
|
|
|
63,099
|
|
|
|
61,995
|
|
|
|
63,140
|
|
|
|
61,948
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net earnings per share excluding amortization of
acquired
intangibles, stock based compensation and
restructuring expenses
|
|
$
|
0.00
|
|
|
$
|
0.06
|
|
|
$
|
(0.01
|
)
|
|
$
|
0.03
|
|
|
$
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares used in computing diluted net
earnings
(loss) per share
|
|
|
62,502
|
|
|
|
64,549
|
|
|
|
61,995
|
|
|
|
64,565
|
|
|
|
62,468
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(*) Results of the organizational change implemented in April 2009.
|
|
ALVARION LTD. & ITS SUBSIDIARIES
|
|
CONDENSED CONSOLIDATED BALANCE SHEETS
|
|
U.S. dollars in thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
|
|
|
March 31,
|
|
|
|
|
2009
|
|
|
2009
|
|
ASSETS
|
|
|
|
|
|
|
|
Cash, cash equivalents, short-term and long-term investments
|
|
$
|
131,579
|
|
$
|
135,534
|
|
Trade receivables
|
|
|
49,348
|
|
|
53,558
|
|
Other accounts receivable
|
|
|
9,805
|
|
|
7,720
|
|
Inventories
|
|
|
48,619
|
|
|
53,228
|
|
Severance pay fund
|
|
|
12,847
|
|
|
11,525
|
|
|
|
|
|
|
|
|
|
INVESTMENT IN AFFILIATES
|
|
|
-
|
|
|
1,554
|
|
|
|
|
|
|
|
|
|
PROPERTY AND EQUIPMENT, NET
|
|
|
17,686
|
|
|
17,683
|
|
|
|
|
|
|
|
|
|
GOODWILL AND OTHER INTANGIBLE ASSETS
|
|
|
57,306
|
|
|
57,339
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS
|
|
$
|
327,190
|
|
$
|
338,141
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade payables
|
|
$
|
47,281
|
|
$
|
55,094
|
|
Other accounts payable and accrued expenses
|
|
|
46,231
|
|
|
52,931
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
93,512
|
|
|
108,025
|
|
|
|
|
|
|
|
|
|
ACCRUED SEVERANCE PAY
|
|
|
17,534
|
|
|
16,975
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES
|
|
|
111,046
|
|
|
125,000
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS' EQUITY
|
|
|
216,144
|
|
|
213,141
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
|
$
|
327,190
|
|
$
|
338,141
|
|
ALVARION LTD. & ITS SUBSIDIARIES
|
|
Consolidated Statement of Cash Flows
|
|
U.S. dollars in thousands
|
|
|
|
|
Three
|
|
|
|
|
Months ended
|
|
|
|
|
June 30, 2009
|
|
|
|
|
|
|
Cash flows from operating activities:
|
|
|
|
|
Net loss
|
|
$
|
(4,003
|
)
|
|
Adjustments to reconcile net loss to net cash provided by operating
activities:
|
|
|
|
|
Depreciation
|
|
|
1,848
|
|
|
Impairment of investment in affiliate
|
|
|
1,554
|
|
|
Stock based compensation expenses related to SFAS 123R
|
|
|
1,697
|
|
|
Amortization of intangibles assets
|
|
|
33
|
|
|
Decrease in trade receivables
|
|
|
4,210
|
|
|
Increase in other accounts receivable and prepaid expenses
|
|
|
(1,628
|
)
|
|
Decrease in inventories
|
|
|
4,609
|
|
|
Decrease in trade payables
|
|
|
(7,813
|
)
|
|
Decrease in other accounts payables and accrued expenses
|
|
|
(1,977
|
)
|
|
Accrued severance pay, net
|
|
|
(763
|
)
|
|
Net cash used in operating activities
|
|
|
(2,233
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities:
|
|
|
|
|
Purchase of fixed assets
|
|
|
(1,851
|
)
|
|
Net cash used in investing activities
|
|
|
(1,851
|
)
|
|
|
|
|
|
|
Cash flows from financing activities:
|
|
|
|
|
Proceeds from exercise of employees' stock options
|
|
|
129
|
|
|
Net cash provided by financing activities
|
|
|
129
|
|
|
|
|
|
|
|
Decrease in cash, cash equivalents, short-term and long-term
investments
|
|
|
(3,955
|
)
|
|
|
|
|
|
|
Cash, cash equivalents, short-term and long-term investments at
the beginning of the period
|
|
135,534
|
|
|
Cash, cash equivalents, short-term and long-term investments at
the end of the period
|
|
$
|
131,579
|
|
About Alvarion
Alvarion (NASDAQ: ALVR) is the largest WiMAX pure-player with the most
extensive WiMAX customer base and over 250 commercial deployments around
the globe. Committed to growing the WiMAX market, the company offers
solutions for a wide range of frequency bands supporting a variety of
business cases. Through its OPEN™ WiMAX strategy, superior IP and OFDMA
know-how, and ability to deploy end-to-end turnkey WiMAX projects,
Alvarion is shaping the new wireless broadband experience (www.alvarion.com).
This press release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based on the current
expectations or beliefs of Alvarion’s management and are subject to a
number of factors and uncertainties that could cause actual results to
differ materially from those described in the forward-looking
statements. The following factors, among others, could cause actual
results to differ materially from those described in the forward-looking
statements: potential impact on our business of the current global
recession, the failure of the market for WIMAX products to develop as
anticipated; Alvarion’s inability to capture market share in the
expected growth of the WiMAX market as anticipated, due to, among other
things, competitive reasons or failure to execute in our sales, services
provisioning, marketing or manufacturing objectives; inability to
further identify, develop and achieve success for new products, services
and technologies; increased competition and its effect on pricing,
spending, third-party relationships and revenues; as well as the
inability to establish and maintain relationships with commerce,
advertising, marketing, and technology providers, and other risks
detailed from time to time in the Company’s 20-F Annual Report Risk
Factors section as well as in other filings with the Securities and
Exchange Commission.
Information set forth in this press release pertaining to third
parties has not been independently verified by Alvarion and is based
solely on publicly available information or on information provided to
Alvarion by such third parties for inclusion in this press release. The
web sites appearing in this press release are not and will not be
included or incorporated by reference in any filing made by Alvarion
with the Securities and Exchange Commission, which this press release
will be a part of.
You may request Alvarion's future press releases or a complete Investor
Kit by contacting Kika Stayerman, kika.stayerman@alvarion.com
or +972.3.767.4159.
"WiMAX Forum" is a registered trademark of the WiMAX Forum. "WiMAX,"
the WiMAX Forum logo, "WiMAX Forum Certified" and the WiMAX Forum
Certified logo are trademarks of the WiMAX Forum.
"Alvarion" is the registered trademarks of Alvarion Ltd.
in certain jurisdictions.
All other companies' names, products, services may be the properties
of their respective owners.
Alvarion Ltd.
Efrat Makov, CFO
+972.3.645.6252
+1-650-314-2652
efrat.makov@alvarion.com
or
Claudia
Gatlin
+1-212-830-9080
claudia.gatlin@alvarion.com
