Airspan Updates on Q4, Nortel

Shipments in the fourth quarter 2008 amounted to approximately $19 million

January 20, 2009

1 Min Read

BOCA RATON, Fla. -- Airspan Networks Inc. (NasdaqGM:AIRN - News), a leading provider of WiMAX-based broadband wireless access networks, today provided the following updates:

-- A preliminary review of fourth quarter 2008 results shows that total shipments in the fourth quarter 2008 amounted to approximately $19 million, of which WiMAX shipments during the quarter amounted to $17 million. The Company expects to defer some revenue from these shipments during the normal financial review process, which will impact the final fourth quarter and full year 2008 revenue numbers.

-- In connection with Nortel's January 14th, 2009 bankruptcy announcement, Airspan has outstanding receivables with Nortel in the amount of approximately $2.7 million for products and services delivered and billed through the date of Nortel's bankruptcy filing. Collection of these receivables is uncertain and will be subject to Nortel's bankruptcy proceedings. Nortel has informed Airspan that it wishes to continue purchasing goods and services from the Company.

-- Airspan received a $12.5 million order for equipment and services to expand the WiMAX network of I.C.E. (El Instituto Costarricense de Electricidad), through its local partner, Datatell. Shipments commenced in the fourth quarter 2008 and the bulk of the order will be delivered in 2009.

These updates are preliminary and are subject to further review by the Company prior to the formal release of earnings. The Company will report its results for the fourth quarter and full year 2008 on Thursday, March 5th before the market opens. An investor conference call is scheduled for 8:30 a.m. (EST) on the same day. Details of conference call dial in numbers will be distributed prior to this date.

Airspan Networks Inc. (Nasdaq: AIRN)

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