View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Networks
March 2, 2009

Axesstel Q4 and annual revenue up

Posts a revenue of $23.3m for fourth quarter of 2008

By CBR Staff Writer

Axesstel, a developer of fixed wireless voice and broadband data products, has posted a net loss of $469,000, or $0.02 per share, for the fourth quarter ended December 31, 2008, compared to a net loss of $5.04m, or $0.22 per share, in the fourth quarter of 2007.

Revenues for the fourth quarter of 2008 were $23.3m, compared to revenues of $13.8m in the fourth quarter of 2007. Gross margin for the fourth quarter was $5.2m, or 22% of revenue, compared to $2.9m, or 21% of revenue for the same period in 2007.

For the year ended December 31, 2008, the company reported revenues of $109.6m, compared to $82.4m for 2007. Gross margin for 2008 was 24% compared to 21% for 2007. Net income was $1.4m for 2008, or $0.06 per diluted share, compared a net loss of $9.02m, or $0.39 per share in 2007.

Clark Hickock, CEO of Axesstel, said: While we are not immune to the new realities of the global economy, our diverse range of products combined with our strong localized sales organization enables us to pursue niche opportunities in the markets we serve. We continue to focus on creating innovative fixed wireless and broadband data solutions. In 2009, we will execute on the same business fundamentals that achieved our aggressive 2008 turnaround.

Content from our partners
Infosecurity Europe 2024: Rethink the power of infosecurity
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.