News Column

Novatel Wireless Reports Second Quarter 2014 Financial Results

August 20, 2014



By a News Reporter-Staff News Editor at Telecommunications Weekly -- Novatel Wireless, Inc. (NASDAQ: NVTL), a leading provider of Internet of Things (IoT) wireless solutions, announced financial results for the second quarter ended June 30, 2014.

Revenue in the second quarter was $37.3 million, down 23% compared to $48.3 million in the first quarter of 2014. GAAP net loss in the quarter was $17.4 million, or $(0.51) per share, compared to a loss of $9.0 million, or $(0.26) per share, in the first quarter of 2014. The net loss for the second quarter of 2014 included approximately $5.3 million in restructuring charges, including approximately $3.7 million related to the termination of our former CEO. On a non-GAAP basis, net loss for the quarter was $11.2 million, or $(0.33) per share, compared to a loss of $7.1 million, or $(0.21) per share, in the first quarter of 2014. A reconciliation of GAAP to non-GAAP measures is included in the accompanying tables.

Keywords for this news article include: Novatel Wireless Inc.

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Source: Telecommunications Weekly


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