Alvarion Ltd. (ALVR) reported that its first-quarter net loss widened to $7.01 million or $1.11 per share from $6.87 million or $1.10 per share in the same quarter last year.
First quarter 2013 results and all comparative periods reflect results of operations of the Company's continuing vertical and carrier unlicensed solutions business. The company's licensed carrier business is classified as discontinued operations.
GAAP net loss from continuing operations in the first quarter of 2013 was $3.95 million, or $0.62 per share, compared to a GAAP net loss from continuing operations of $3.85 million, or $0.62 per share in the first quarter of 2012. GAAP results in the first quarter of 2013 included amortization of intangible assets, stock-based compensation and acquisition related expenses.
On a non-GAAP basis, excluding loss from discontinued operations, amortization of intangible assets, stock-based compensation and acquisition related expenses, the Company reported a net loss of $3.2 million, or $0.51 per share, compared with non-GAAP net loss of $2.7 million, or $0.43 per share, in the first quarter of 2012.
Revenues for the quarter were $8.5 million, a decrease of 45.4% from $15.6 million last year.
The company stated that earnings per share were adjusted in accordance with the 1:10 reverse split effected on April 2, 2013.
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