Customer attrition led wireless service provider Clearwire Corporation(NASDAQ:CLWR) to report a second quarter loss that was lower than analyst estimates and vowed to conserve cash in the future.
The adjusted loss was 29 cents a share, the Bellevue-based company said on Thursday compared to analyst estimates of 32 cents a share.
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Revenue was $316.9 million, below analyst projections of $321 million.
Clearwire shares have already shed 60 percent in value since March last year but on Thursday it closed up 12 percent at $1.01 on Nasdaq. Investors have been uncertain about the prospects of the company which has provided very little clarity on additional funds it would need to expand its high-speed wireless network.
The company, which ended the second quarter with $1.2 billion of cash, however assured investors on Thursday that it had enough funds to last a full year while cash reserves would be boosted by higher revenues and cost reduction measures.
Clearwire estimated a 2012 adjusted loss, before interest, tax, depreciation and amortization, of $175 million to $225 million, below its previous loss forecast of $250 million to $350 million.
The company also raised its revenue target range for the year to $1.2 billion to $1.3 billion from its previous expectation for $1.15 billion to $1.25 billion.
Qlik Technologies Inc (NASDAQ:QLIK) among the gainers and the stock surged up 20.95% to $21.36. The Company reported second quarter net loss of $2.04 million or $0.02 per share compared to $2.71 million or $0.03 per share in the prior year period. Adjusted income was $1.68 million or $0.02 per share versus 1.25 million or $0.01 per share in the prior year quarter.
Total revenues increased 16% to $85.80 million. The Company expects third quarter adjusted net income in the range of $0.02 to $0.04 per share. Revenues for the third quarter are anticipated in the range of $87.0 million to $90.0 million.
Tellabs Inc (NASDAQ:TLAB) jumped up 10.48% to $3.32 after the Company reported second quarter results. Net loss was $5 million or $0.01 per share compared to $29 million or $0.08 per share in the same period last year. Profit was $6 million or $0.02 per share compared to a loss of $14 million or $0.04 per share in the previous year quarter. Revenues were $288 million versus $317 million in the prior year quarter. Analysts expected revenues of $287.57 million.