Novatel Wireless designs and develops intelligence wireless solutions using 2G, 3G and 4G technologies to carriers, distributors, retailers, OEMs and vertical markets around the world. Its products provide anytime-anywhere communications solutions for consumers and enterprises with MiFi intelligent mobile hotspots, mobile and asset tracking solutions, smart M2M modules and more. The company reported second-quarter 2013 results which ended June 30, with revenues of $91.1 million, up 6 percent from the first-quarter of 2013.
Business highlights for the company includes:
- The launch its commercial Tri-band MiFi 500 LTE device with Sprint on July 19, 2013, which makes it the first tri-band device providing access to 4G LTE network at 800MHz, 1.9GHz and 2.5GHz broadband devices. Its Enabler HS 3001 CDMA smart module for machine-to-machine applications has also been certified for use on the Sprint network.
- Samples of the new MT 3060, an integrated system-level solution that collects and controls critical vehicle data to deliver information to the cloud managed by the Novatel Services Enablement Platform was made available on July 1, 2013.
- On July 18, 2013, it started shipping M2M Enabler HS 3001 modules to Capstone Metering, LLC. The module will be implemented as part of Capstone's smart watering solutions, which will be the first smart water solution to include cellular capabilities.
- Mesh Systems announced it has chosen Novatel for its new CDMA2000 1X embedded M2M module. The Expedite HS 3001 will be integrated into Mesh Systems' MeshVista EZRA Gateway Series.
"In the second quarter we made solid progress across both M2M and mobile computing, which again drove sequential revenue growth. We continued to advance our M2M business, led by 19 percent sequential growth of our asset management, or integrated, solutions for our targeted vertical markets - fleet management, asset tracking, after market telematics and telemetry. During the quarter, we built upon our industry leading product portfolio with the announcement of our SA 2100 and MT 3060 product families," said Peter Leparulo, CEO of Novatel Wireless.
Third quarter 2013 business outlook is dependent on the launch of three major new products awaiting carrier certification. The company forecasts revenues of $90 to $100 million.
Edited by
Alisen Downey