Revenues of $35.1 million – exceeding mid-quarter target by $2 million
Non-GAAP net loss of $(0.04) per share – in line with target
GAAP net loss of $(0.31) per share versus $(0.40) per share net loss in second quarter 2003
Proxim ORiNOCO Wi-Fi portfolio sales growth outpaces third quarter 2003 industry forecasts
SUNNYVALE, Calif., October 21, 2003 -- Proxim Corporation (Nasdaq: PROX), a global leader in wireless networking equipment for Wi-Fi and broadband wireless, today announced financial results for the third quarter and nine months ended September 26, 2003. Total revenue for the third quarter of 2003 was $35.1 million, compared to total revenue of $24.1 million for the third quarter of 2002. Total revenue for the nine months ended September 26, 2003 was $109.9 million, which included license revenues of $6 million, compared to total revenue of $94.7 million for the nine months ended September 27, 2002. The 2002 financial results include: the results of the former Western Multiplex Corporation for the period from January 1, 2002 to September 27, 2002, the results of the former Proxim, Inc. from March 27, 2002 to September 27, 2002, and the results of the former Agere Wireless LAN Systems business from August 6, 2002 to September 27, 2002, in accordance with generally accepted accounting principles (GAAP) for accounting for business combinations.
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