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For the fourth quarter ended December 31, 2008, the company posted revenues of $11.61 million, compared to $13.76 million for same period in 2007.
For the year ended December 31, 2008, Proxim reported revenue of $49 million, compared to $61.94 million in 2007. The company posted a net loss of $10 million, or $0.43 per share, for 2008, compared to a net loss of $19.1 million, or $0.82 per share, in 2007.
Pankaj Manglik, president and CEO of Proxim Wireless, said: "In light of the global economic downturn, we have taken measures to reduce costs while maintaining our commitment to product development. As a result, we will be announcing more innovative products across both our WLAN and licensed and license-free WiMAX product lines in the coming months, which will help us accelerate revenue out of the downturn."
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