WINNIPEG – Craig Wireless Systems said Monday that revenue for the first quarter of fiscal 2008, ended November 30, 2007, was $468,712, a decrease from $534,520 compared to the same period of fiscal 2007.
“This decrease is a result of, among other things, the corporation’s shift of focus away from its current services of fixed-wireless digital television distribution business to a new suite of services that are focused on portable and mobile applications utilizing WiMAX-enabled technology.
Click here for the recent Cartt.ca profile of the company’s CEO for more on that shift of focus.
“Realized revenue was also impacted by the Corporation’s change of primary equipment suppliers in Greece. The Corporation had determined that its previous primary equipment supplier for deployment in Greece was unable to fulfill its commitments and as a result the Corporation has made a strategic change to Motorola Inc. as its primary supplier in Greece,” reads the Craig press release.
“Motorola Inc. has responded and has provided equipment and services to replace the existing equipment to meet the deployment requirements under a wholesale agreement with a local telephone operator, Lannet Communications S.A. ("Lannet"), for the marketing of WiMAX services to consumers. The agreement with Lannet has been amended to accommodate the change in suppliers and Lannet has responded favourably to the change. These changes impacted the realized revenue from Lannet for the three months ended November 30, 2007 and resulted in an adjustment to the Corporation’s revenue expectations for Fiscal 2008.”
Craig is also growing, or will grow more soon, given its recent spectrum wins in New Zealand and Norway.
