COMS » Topics » Equity Interest in Unconsolidated Huawei-3Com Joint Venture

This excerpt taken from the COMS 8-K filed Dec 21, 2005.

Equity Interest in Unconsolidated Huawei-3Com Joint Venture

During its calendar third quarter ended September 30, 2005, the Huawei-3Com joint venture revenue was $111 million, an increase of 16 percent compared to its calendar second quarter of 2005. Compared to the same period in the prior year, revenue grew 69 percent. Gross margin for the quarter was 42 percent and the net loss was $2 million, after recognizing $7 million in expense for amortization of intangible assets.

 

In the second quarter, we recorded a loss of $1 million as our share of the financial performance of the unconsolidated Huawei-3Com joint venture in its calendar third quarter. We have provided, at the end of the earnings release, a table that summarizes previously disclosed data for the Huawei-3Com joint venture along with its third quarter results.

 

This excerpt taken from the COMS 8-K filed Sep 22, 2005.

Equity Interest in Unconsolidated Huawei-3Com Joint Venture

During its calendar second quarter ended June 30, 2005, the Huawei-3Com joint venture revenue was $96 million, an increase of 16 percent compared to calendar first quarter of 2005. Compared to the same period in the prior year, revenue grew 53 percent. Gross margin for the quarter was 42 percent and the net income was approximately break-even, including $7 million in amortization of intangible assets.

 

In the first quarter, we recorded approximately zero as our share of the financial performance of the unconsolidated Huawei-3Com joint venture in its calendar second quarter. We have provided, at the end of the earnings release, a table that summarizes previously disclosed data for the Huawei-3Com joint venture along with its second quarter results.

 

This excerpt taken from the COMS 8-K filed Jun 29, 2005.

Equity Interest in Unconsolidated Huawei-3Com Joint Venture

 

In the fourth quarter we recorded a gain of $0.2 million as our share of the financial performance of the unconsolidated Huawei-3Com joint venture in its calendar first quarter.

 

During its calendar first quarter ended March 31, 2005, the Huawei-3Com joint venture revenue was $82 million, a decrease of 6 percent compared to calendar fourth quarter 2004.  This expected sequential decline resulted from a seasonally soft calendar first quarter due to the Chinese holidays.  Compared to the same period in the prior year, revenue grew 79 percent.  Gross margin for the quarter was 44 percent and the net income was approximately $0.4 million, which included approximately $7 million of amortization of intangible assets.  We have provided, at the end of the earnings release, a table that summarizes previously disclosed data for the Huawei-3Com joint venture along with the fourth quarter results.

 

This excerpt taken from the COMS 8-K filed Mar 17, 2005.

Equity Interest in Unconsolidated Huawei-3Com Joint Venture

 

In the current quarter, we recorded a loss of $2 million as our portion of the financial performance of the unconsolidated Huawei-3Com joint venture in its calendar fourth quarter.

 

During its calendar fourth quarter ended December 31, 2004, the Huawei-3Com joint venture revenues grew to $87 million, an increase of 32 percent sequentially, bringing the calendar year total to $262 million.  Reported gross margin for the quarter was 39 percent and the net loss was $5 million, including approximately $6 million of amortization of intangible assets.  Included at the end of the earnings release is a table that summarizes previously disclosed data for the Huawei-3Com joint venture along with the current quarter results.

 

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