Craig Wireless sets its sights on global 4G spectrum

RANCHO MIRAGE, CA – Craig Wireless announced earnings of over $65 million and a net income of $52.6 million for the year ended August 31, 2010.The company realized a gain of $77.4 million after completing the sale of its Canadian spectrum assets to Inukshuk Wireless Partnership in August. After repaying the full balance of its outstanding $12.99 million debt and declaring a shareholder dividend worth $20.5 million in the aggregate, president and CEO Boyd Craig said in a statement that the company plans to use its reserves to pursue global 4G spectrum."Following the sale of our Canadian spectrum assets at a significant profit,...