Alvarion Falls to Lowest in Week as Revenue Falls, Loss Forecast
Alvarion Ltd. (ALVR) declined to the lowest in a week after the telecommunications-equipment maker reported a drop in fourth-quarter revenue and forecast a first- quarter loss.
The shares dropped 1.9 percent to 4.42 shekels, the lowest level since Feb. 7, at 4:08 p.m. in Tel Aviv.
Revenue declined 12 percent to $41.2 million as the company posted a $12 million net loss. It used $5.8 million in cash for its operations. Alvarion forecast a first-quarter loss per share of between 3 cents and 8 cents.
To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Maedler at email@example.com