Click here to close now.


Mobile IoT Authors: Flint Brenton, Sanjay Zalavadia, Dana Gardner, John Basso, Liz McMillan

News Feed Item

NextWave Wireless Files Third Quarter Fiscal 2012 Results

NextWave Wireless Inc. (OTCQB: WAVE) today announced that it has filed its Quarterly Report on Form 10-Q with the Securities and Exchange Commission for the third quarter of fiscal 2012, ended September 29, 2012.

The Form 10-Q is available on the web site maintained by the Securities and Exchange Commission at and on the NextWave Web site at under the heading - Financial Information - SEC Filings. The financial information accompanying this press release should be reviewed together with the Notes to Condensed Consolidated Financial Statements, Management’s Discussion and Analysis of Financial Condition and Results of Operations and Risk Factors contained in the Form 10-Q.

About NextWave Wireless

NextWave Wireless Inc. is a wireless technology company that manages and maintains wireless spectrum licenses.

Additional Information

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. There can be no assurances that forward-looking statements will be achieved. Actual events or results could differ materially from the events or results predicted by such statements. Important factors that could cause actual events or results to differ materially are discussed in greater detail in the filings of NextWave with the Securities and Exchange Commission. All such documents are available through the SEC’s website at NextWave makes no commitment to update any forward-looking statements in order to reflect subsequent changes in events or circumstances except as may be required pursuant to applicable law.

(in thousands, except par value data)
  September 29,   December 31,
2012 2011
Current assets:

Cash and cash equivalents





Restricted cash 1,696 1,047
Marketable securities 10,000
Prepaid expenses and other current assets 248 827
Current assets of discontinued operations   4,162     3,511  
Total current assets 11,969 26,472
Wireless spectrum licenses, net 431,397 435,522
Property and equipment, net 721 1,313
Other assets   50     362  
Total assets $ 444,137   $ 463,669  
Current liabilities:
Accounts payable $ 250 $ 5
Accrued expenses 3,959 2,328
Current portion of long-term obligations 1,148,434 142,019
Other current liabilities 9 10
Current liabilities of discontinued operations   725     172  
Total current liabilities 1,153,377 144,534
Deferred income tax liabilities 83,937 83,334
Long-term obligations, net of current portion   15,489     896,568  
Commitments and contingencies
Stockholders’ deficit:
Preferred stock, $0.001 par value; 25,000 shares authorized; 355 shares designated as Series A Senior Convertible Preferred Stock; no other shares issued or outstanding
Common stock, $0.007 par value; 57,143 shares authorized; 24,938 shares issued and outstanding at September 29, 2012 and December 31, 2011 175 175
Additional paid-in-capital 888,800 888,505
Accumulated other comprehensive income 5,486 21,805
Accumulated deficit   (1,703,127 )   (1,571,252 )
Total stockholders’ deficit   (808,666 )   (660,767 )
Total liabilities and stockholders’ deficit $ 444,137   $ 463,669  
(in thousands, except per share data)
  Three Months Ended   Nine Months Ended
September 29,   October 1, September 29,   October 1,
2012 2011 2012 2011
Operating expenses:
General and administrative $ 11,056 $ 5,006 $ 21,739 $ 17,281
Restructuring credit               (1,076 )
Total operating expenses 11,056 5,006 21,739 16,205
Net gains on sales of wireless spectrum licenses   1     2     101     255  
Loss from operations   (11,055 )   (5,004 )   (21,638 )   (15,950 )
Other income (expense):
Interest income 6 13 32 42
Interest expense (44,773 ) (64,762 ) (129,441 ) (185,007 )
Other income (expense), net   (1 )   (7 )   (5 )   1,245  
Total other expense, net   (44,768 )   (64,756 )   (129,414 )   (183,720 )
Loss from continuing operations before income taxes (55,823 ) (69,760 ) (151,052 ) (199,670 )
Income tax benefit   217     262     614     2,082  
Net loss from continuing operations   (55,606 )   (69,498 )   (150,438 )   (197,588 )
Income from discontinued operations before income taxes, net of gains (losses) on divestitures of discontinued operations of $0, $(1), $19,862 and $2,119, respectively 16 66 20,029 2,740
Income tax provision   (6 )   (24 )   (1,466 )   (1,000 )
Net income from discontinued operations   10     42     18,563     1,740  
Net loss $ (55,596 ) $ (69,456 ) $ (131,875 ) $ (195,848 )
Other comprehensive loss:
Net loss $ (55,596 ) $ (69,456 ) $ (131,875 ) $ (195,848 )
Foreign currency translation adjustment transferred to earnings upon substantial liquidation of foreign entities (17,578 ) (1,305 )
Foreign currency translation adjustment   1,451     (2,653 )   1,259     1,325  
Total other comprehensive loss   (54,145 )   (72,109 )   (148,194 )   (195,828 )
Amounts attributed to net income (loss) per common share:
Net loss from continuing operations $ (55,606 ) $ (69,498 ) $ (150,438 ) $ (197,588 )
Net income from discontinued operations   10     42     18,563     1,740  
Net loss $ (55,596 ) $ (69,456 ) $ (131,875 ) $ (195,848 )
Net income (loss) per common share– basic and diluted
Continuing operations $ (2.30 ) $ (2.89 ) $ (6.24 ) $ (8.21 )
Discontinued operations           0.77     0.07  

Net loss

$ (2.30 ) $ (2.89 ) $ (5.47 ) $ (8.14 )
Weighted-average shares used in per share calculation 24,127 24,060 24,107 24,060
(in thousands)
  Nine Months Ended
September 29,   October 1,
2012 2011
Net loss $ (131,875 ) $ (195,848 )
Net income from discontinued operations   18,563     1,740  
Net loss from continuing operations (150,438 ) (197,588 )
Adjustments to reconcile loss from continuing operations to net cash used in operating activities of continuing operations:
Amortization of intangible assets 5,574 5,709
Depreciation 592 656
Non-cash share-based compensation 295 625
Paid-in-kind interest 124,080 98,448
Amortization of deferred financing costs and discounts 5,342 86,552
Gains on sales of wireless spectrum licenses (101 ) (255 )
Gains from changes in estimated fair values of embedded derivatives (1,261 )
Deferred income tax benefit (607 ) (1,082 )
Other non-cash adjustments 3 (1,044 )
Changes in operating assets and liabilities:

Prepaid expenses and other current assets

572 551
Other assets 290 (389 )
Accounts payable and accrued liabilities   1,872     (2,610 )
Net cash used in operating activities of continuing operations   (12,526 )   (11,688 )
Proceeds from the maturity of investment securities 20,210
Purchase of held-to-maturity investment securities (10,191 ) (15,000 )
Proceeds from the sale of wireless spectrum licenses, net of selling costs   278     255  
Net cash provided by (used in) investing activities of continuing operations   10,297     (14,745 )
Payments on long-term obligations (4,080 ) (10,137 )
Payments to restricted cash account used to redeem long-term obligations   (647 )    
Net cash used in financing activities of continuing operations   (4,727 )   (10,137 )
Cash provided (used) by discontinued operations:
Net cash provided (used) by operating activities of discontinued operations 193 (906 )
Net cash provided by investing activities of discontinued operations   2,213     3,654  
Net cash provided by discontinued operations 2,406 2,748
Effect of foreign currency exchange rate changes on cash   (18 )   3  
Net decrease in cash and cash equivalents (4,568 ) (33,819 )
Cash and cash equivalents, beginning of period   11,092     42,598  
Cash and cash equivalents, end of period 6,524 8,779
Less cash and cash equivalents of discontinued operations, end of period   (661 )   (40 )
Cash and cash equivalents of continuing operations, end of period $ 5,863   $ 8,739  

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and technology requirements that will drive the Internet of Things from hype to reality.
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessions, I wanted to share some of my observations on emerging trends. As cyber security serves as a fou...
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion is moderated by me, Dana Gardner, Principal Analyst at Interarbor Solutions.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now all corporate assets – people, objects, and spaces – can share information about themselves and thei...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound effect on the world, and what should we expect to see over the next couple of years.
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true change and transformation possible.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, wil...
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNub’s Data Stream Network.
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" in this scenario: microservice A (releases daily) depends on a couple of additions to backend B (re...
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user experience, both offline and online. The focus of this talk was on IBM Cloudant, Apache CouchDB, and ...
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at, examined how Docker has evolved into a highly effective tool for application delivery by allowing increasingly popular Mobile Backend-as-a-Service (mBaaS) platforms to quickly crea...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound cha...
Internet of @ThingsExpo, taking place June 7-9, 2016 at Javits Center, New York City and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Yet a closer inspection at the data reveals less than half of these cloud projects involve production...
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical to maintaining positive ROI. Raxak Protect is an automated security compliance SaaS platform and ma...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
There are over 120 breakout sessions in all, with Keynotes, General Sessions, and Power Panels adding to three days of incredibly rich presentations and content. Join @ThingsExpo conference chair Roger Strukhoff (@IoT2040), June 7-9, 2016 in New York City, for three days of intense 'Internet of Things' discussion and focus, including Big Data's indespensable role in IoT, Smart Grids and Industrial Internet of Things, Wearables and Consumer IoT, as well as (new) IoT's use in Vertical Markets.
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context with p...