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On a GAAP basis, revenues for the first quarter of 2009 were $7.9 million, a decrease of approximately 23% from revenue of $10.24 million reported for the same period of 2008. For the first quarter of 2009 gross margins was 55.1%, compared to 42.2% in the same quarter of 2008.
Pankaj Manglik, president and CEO of Proxim Wireless, said: "While the first quarter of 2009 certainly had its challenges, we are very pleased to report our first operating income since the quarter ended December 31, 2005. During these difficult economic times, we have focused on watching our expenses carefully while continuing our commitment to new product introductions. Our focus on controlling expenses will continue while we also work to increase our revenues from existing and new products as we move through 2009."
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