US politicians demands ban on raising taxes on mobile services
Four US politicians have proposed a new bill that would impose a 5-year ban on any increases in the taxes imposed on cell phone services by federal and state governments. According to the proposal, on average, wireless customers now pay 16.3% in taxes and fees, more than twice the average rate of 7.4% on other goods and services.
In many localities, this cumulative tax burden is even worse: 26.8% in Baltimore, 19.9% in Omaha, 18.2% in Tallahassee, and 20.4% in New York City.
The Wireless Tax Fairness Act would halt this trend by imposing a temporary, five-year freeze on new Taxes that are imposed only on wireless services. They note that the bill does not take away any existing revenue from state or local governments; it simply caps the current taxes and fees. It is also the second attempt to pass such a bill after an attempt last year failed.
The bill follows a campaign that started in 2009 by pressure group, MyWireless.org calling for an identical 5-year moratorium on cell phone taxes. It was said that taxes on cell phone services raise US$21 billion from consumers.
MyWireless is described as a non-profit consumer advocacy organization, although it was founded by member companies of the CTIA, which represents mobile network operators. It also shares the same registered address as the CTIA in Washington D.C.
Sprint launches 4G in San Francisco (USA)
Sprint Nextel has launched its WiMAX network in the San Francisco Bay Area. The service will initially be available in San Francisco, San Jose, Palo Alto and Oakland. Nationwide the WiMAX network is available in 71 markets across the country, including Atlanta, Boston, Chicago, Dallas, Los Angeles and New York City.
According to Matt Carter, President-Sprint 4G, the Bay Area is responsible for creating so much new technology and today they are bringing the power of 4G to their customers in that region who are hungry for fast mobile broadband. The introduction of Sprint 4G will be a great asset for this area, and they encourage customers to try it by using one of their well-regarded 4G mobile devices.
Sprint first launched its 4G network in Baltimore in September 2008.
Wireless Telecom Group Announces Third Quarter Financial Results Including Year to Date Revenue Growth of 6% and $1.1 Million Increase in Net Income from Continuing Operations
Wireless Telecom Group, Inc announced today results for the third quarter and nine months ended September 30, 2010.
For the nine months ended September 30, 2010, the Company reported net sales from continuing operations of $17,928,000, compared to $16,924,000 for the same period in 2009, an increase of 6%.
For the first nine months of 2010, the Company reported net income from continuing operations of $657,000, or $0.03 per diluted share, compared to a net loss of $(440,000), or $(0.02) per diluted share, for the same period of 2009, representing an increase of approximately $1.1 million over the previous year.
For the quarter ended September 30, 2010, the Company reported net sales from continuing operations of $5,710,000, compared to $6,240,000 for the same period in 2009, a decrease of 8%.
The Company also reported net income from continuing operations of $39,000 or $0.00 per diluted share for the third quarter of 2010, compared to a net loss of $(18,000), or $(0.00) per diluted share for the third quarter of 2009.
For the quarter ended September 30, 2010, the Company reported no activity from discontinued operations, compared to net income of $181,000, or $0.01 per diluted share, for the third quarter of 2009.
For the nine months ended September 30, 2010, the Company reported a net loss from discontinued operations of $(1,743,000) or $(0.07) per diluted share, compared to net income of $240,000, or $0.01 per diluted share, for the same period of 2009. The nine month loss in 2010 from discontinued operations consists of an operating loss of $(1,312,000), or $(0.05) per diluted share and an adjustment of $(431,000), or $(0.02) per diluted share, which reflects a change in the estimated carrying value less the costs to dispose of the net assets of Willtek.
Paul Genova, CEO of Wireless Telecom Group, Inc., stated, “Our year to date sales reflect an improvement over last year of 6% due to improving market conditions for our products, and while third quarter sales were below the comparative quarter last year, overall order activity is improved. This trend has continued since the end of the third quarter, increasing our order backlog which we expect to reflect well in our results for the remainder of the year. Our cost reduction efforts have also delivered improvement with operating expenses reduced by approximately 9% for the quarter and nine months compared to last year and we continue to maintain a strong balance sheet with approximately $11.4 million in cash and cash equivalents at September 30, 2010.
“With the completion of the sale of Willtek on May 7, 2010, we continue to focus our efforts on our core business as we look to expand our customer and product base. We believe the global demand for high speed data transmission and the need for improved communications infrastructure bodes well for our Microlab products for In-Building Distributed Antenna Systems. Further, we are developing several specific applications for our flagship products in our Noisecom and Boonton brands which will enable our customers to perform sophisticated test & measurement procedures and meet the demands of a growing worldwide market.”
Wireless Telecom Group designs and manufactures radio frequency (RF) and microwave-based products for wireless and advanced communications industries and markets its products and services worldwide under the Boonton, Microlab and Noisecom brands. Its complementary suite of high performance instruments and components includes peak power meters, signal analyzers, power splitters, combiners, diplexers, noise modules, precision noise and generators. The Company serves both commercial and government markets with workflow-oriented, WiFi, WiMAX, satellite, cable, radar, avionics, medical, and computing applications. Wireless Telecom Group is headquartered in Parsippany, New Jersey, in the New York City metropolitan area, and maintains a global network of Sales and Service offices for excellent product service and support.
Wireless Telecom Group’s website address is http://www.wtcom.com. Except for historical information, the matters discussed in this news release may be considered “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. Such risks and uncertainties are identified in the Company’s reports and registration statements filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2009.
See following Selected Financial Results
Wireless Telecom Group, Inc.
SELECTED FINANCIAL RESULTS
(In thousands, except per share amounts)
Three months ended Nine months ended
Sep 30, Sep 30,
————————- ————————–
(Unaudited) (Unaudited)
2010 2009 2010 2009
———– ————- ———— ————-
Statement of Operations Data:
Net sales $ 5,710 $ 6,240 $ 17,928 $ 16,924
Gross profit 2,696 2,929 8,455 7,778
Operating expenses
Research and development 544 508 1,639 1,561
Sales and marketing 1,180 1,129 3,132 3,272
General and administrative 1,013 1,355 3,092 3,822
——– ——– ——— ——
Total operating expenses 2,737 2,992 7,863 8,655
Interest and other (income) – net (88) (126) (93) (114)
Income (loss) from continuing operations
before income taxes 47 63 685 (763)
Income (loss) from continuing operations 39 (18) 657 (440)
Income (loss) from discontinued operations -
net of taxes - 181 (1,743) 240
Net income (loss) $ 39 $ 163 $ (1,085) $ (200)
======== ======== =========== == ====== ==
Net income (loss) per common share:
Basic and diluted
Continuing operations $0.00 ($0.00) $0.03 ($0.02)
Discontinued operations 0.00 0.01 (0.07) 0.01
——– ——– ———– ——
Net income (loss) per common share $0.00 $0.01 ($0.04) ($0.01)
======== ======== =========== ====== ==
Weighted average shares outstanding:
Basic 25,658 25,658 25,658 25,658
Diluted 25,658 25,658 25,687 25,658
September 30, December 31,
2010 2009
————————- ————————–
(Unaudited)
Balance Sheet Data:
——————————————–
Cash & cash equivalents $ 11,389 $ 14,076
Working capital $ 22,240 $ 26,154
Total assets $ 37,084 $ 45,132
Total liabilities $ 5,756 $ 11,942
Shareholders’ equity $ 31,328 $ 33,190
T- Mobile expands HSPA+ network (USA)
www.WirelessFederation.com/news: Plans to carry out the up gradation work of 3G networks to HSPA+ standard has been outlined by T- Mobile USA. T-Mobile expects to deploy HSPA across the breadth of its 3G footprint by the end of 2010, covering more than 100 metropolitan areas and 185 million people.
According to Neville Ray, senior vice president of engineering and operations for T-Mobile USA, consumers want a mobile broadband experience that’s easy and as good as their connection at home on the best wireless devices available and this year T-Mobile will upgrade its national 3G network to HSPA+ which will support faster speeds and give customers a superior wireless data experience when they access their mobile social network, stream videos or share content.
A successful launch of HSPA+ network was completed by T-Mobile in Philadelphia last autumn. HSPA+ has been made commercially available by the telco in new markets including major areas of New York City, New Jersey, Long Island and suburban Washington, D.C. Los Angeles is going to be the latest entry in the list.
Network up gradation planned by AT&T
www.WirelessFederation.com/news: According to a top AT&T Inc executive, the company is required to improve the quality of its wireless services in areas such as New York City and San Francisco if it wants to throw competition to other operators.
Some improvements have been made by the telco in the year 2009 but more upgrades has to be planned this year to accommodate faster mobile data services. However, the deployment of 3.5 G HSPA 7.2 standards has been planned by the telco in 25 of the country’s 30 largest markets this year.
The company expects that upgrade will be in place across 90% of its 3G footprint by the end of 2011. Long Term Evolution (LTE) trials have also been planned by AT&T before commercially launching the 4G standard in 2011.
Verizon stands tall, Dolan Family running out of gas
WASHINGTON-Verizon Wireless appears to be in a bidding war with T-Mobile USA Inc. over the valuable F-block licenses up for grabs in the advanced wireless services spectrum auction. Meanwhile, Sprint Nextel Corp.’s joint venture with four cable companies is focusing on buying spectrum within the footprints of the cable operators. Also, another cable bidder-Dolan Family Holdings L.L.C., backed by CableVision System Corp.’s chairman-appears to be close to dropping out of the auction.
The 25 highest bids placed in the 22nd round of bidding were all from wireless operators, except for three placed by the Sprint Nextel-cable company JV covering licenses in Los Angeles and New York City.
Verizon Wireless made high bids on four of the six 20 megahertz regional F-block licenses; T-mobile
USA hung onto the other two, along with 124 other regional and local market licenses. T-Mobile USA bid a total of $3.2 billion in the latest round, and Verizon Wireless bid $2.8 billion on the four F-block licenses.Charles Dolan’s Dolan Family Holdings bidding entity appears close to dropping out of the auction. The bidding entity dropped from initial bidding eligibility of about $150 million to $71 million in round 18 to less than $2 million in round 22. After provisionally winning as many as nine licenses in earlier rounds, Dolan Family Holdings had no high bids in the two latest rounds of bidding.
Dolan Family Holdings could follow satellite television providers EchoStar Communications Corp. and DirecTV Group Inc., which dropped out of the auction yesterday.
As for other players in round 22, MetroPCS Communications Inc. ended the round with high bids on nine licenses: two 10 megahertz regional licenses in the West and Northeast and market-specific licenses covering cities such as Dallas-Ft. Worth;
Flint, Mich.; and
Sarasota and
Orlando, Fla.Leap Wireless International Inc. stayed in the game, garnering high bids of $247 million for 29 licenses covering parts of
Georgia,
Tennessee,
California,
Arizona and the
Carolinas as well as one 10 megahertz license covering the Central region of the
United States. Meanwhile, Leap-backed Denali Spectrum License L.L.C. placed two high bids worth about $700 million on a regional 10 megahertz license in the
Great Lakes and a
New Jersey-
New York metro area license.Other auction action included:c U.S. Cellular Corp. placed high bids of $232 million for two licenses: one covering the
Chicago metro area and parts of
Indiana and another regional 10 megahertz license for the
Mississippi
Valley.c Dobson Communications Corp. placed high bids of $12.3 million on 25 licenses in
New York, Maryland,
Alaska and
Pennsylvania.Almost 75 percent of the total 1,122 available licenses have now received bids. More then 260 bids were placed in the 22nd round, and the auction has raised a total of $10.7 billion so far.
Source - http://www.rcrnews.com
Technorati : MetroPCS, Mobile, T-Mobile, Verizon Wireless
Ice Rocket : MetroPCS, Mobile, T-Mobile, Verizon Wireless
