A Canadian wireless local-area network equipment maker has reported revenues dropped by more than half.
Wi-LAN Inc. of Ottawa Tuesday released its financial results for the year ending Oct. 31, 2008. Although fourth quarter revenues this year were $13.7 million (compared to $7.2 million for the quarter ending Oct. 31, 2007), the firm reported revenue for the entire year was $26.6 million, down from $61.3 million for 2007.
The company, which holds more than 300 patents (including those pending approval) for Wi-Fi, WiMAX, CDMA, DOCSIS and other wireless protocols, licenses technology to other manufacturers.
The company’s chief executive officer, Jim Skippen, described the financial results as “solid,” given that the company negotiated license agreements with 79 companies.