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Clearwire Posts Loss, Preps for LTE

Clearwire LLC (Nasdaq: CLWR) posted more losses Wednesday afternoon, as it promised to update its 4G WiMax network with faster "Long Term Evolution (LTE)-advanced ready" technology in the future.

For its second quarter, the Kirkland, Wash.-based WiMax provider to Sprint Corp. (NYSE: S) reported a net loss of $168.7 million, or 68 cents per share, compared to $125.9 million, or 61 cents per share, for the same quarter in 2010. The 2011 figures include $590.9 million in non-cash write-downs. (See Clearwire Posts Q2.)

Clearwire's stock was down 12 cents (4.9%) in after-hours trading Wednesday afternoon.

— Dan Jones, Site Editor, Light Reading Mobile

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