Tranzeo posts another loss

Published: August 14th, 2009

Canadian broadband manufacturer Tranzeo Wireless Technologiesreported another net loss but belives it will return to profitabilityin the third quarter. Tranzeo, headquartered in Pitt Meadows, B.C.,said Thursday that it lost $624,000 in the quarter that ended June 30on revenue of $3.3 million. It pulled in the same amount of revenue inthe first quarter. By comparision, in the second quarter of 2008 it hadrevenue of $6 million. The company blamed the drop in revenue primarilyon a plunge in U.S. demand. Total net loss for the first six months ofthe year hit $1.2 million.

Tranzeo makes a range of 900 Mhz, 2.4 Ghz and 5 Ghz indoor andoutdoor Wi-Fi and WiMAX radios. Part of the reason for its optimism isthat bookings hit a record $6.6 million in the second quarter. Ordersreceived late in the quarter will be fulfilled in the third quarter,the company said, adding it has a backlog of $3.3 million inorders going into the quarter.

During Q2 Tranzeo raised $2.8 million from issuing shares, most of which went to pay off a bridge loan.

This week Tranzeo announced a partnership with PT. Teknologi RisetGlobal (TRG), an affiliate of the Indonesian Tower Group, atelecommunication infrastructure providerto creat of a family of WiMAXsubscriber units. It hopes to sell the products, which have to meet a30 per cent local content requirement, to some of the eight providersrecently awarded 2.3 Ghz licences.

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