Terabeam Announces Fourth Quarter and Full Year 2005 Financial Results; Company Returns to Profitability and Increases Cash Approximately $5.4 Million.

Publication: Business Wire

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COPYRIGHT 2006 Business Wire

SAN JOSE, Calif. -- Terabeam, Inc. (NASDAQ:TRBM), a leading developer and supplier of broadband wireless solutions, today reported its unaudited financial results for the fourth quarter and year ended December 31, 2005.

Revenue for the quarter ended December 31, 2005 was slightly more than $27.0 million, an increase of approximately 369% from the revenue of $5.8 million for the quarter ended December 31, 2004 and an increase of approximately 49% from the revenue of $18.1 million for the quarter ended September 30, 2005. Revenue for the year ended December 31, 2005 was $59.0 million, an increase of approximately 158% from the revenue of $22.9 million for the year ended December 31, 2004.

Operating income for the quarter ended December 31, 2005 was $657,000 compared to an operating loss of $1.6 million for the quarter ended December 31, 2004 and an operating loss of $10.0 million for the quarter ended September 30, 2005. Net income for the quarter ended December 31, 2005 was $811,000 ($0.04 per share-diluted) compared to net income of $2.3 million ($0.10 per share-diluted) for the quarter ended December 31, 2004 and net loss of $10.0 million ($0.47 per share-diluted) for the quarter ended September 30, 2005. The net income for the quarter ended December 31, 2004 included a one-time gain of approximately $3.9 million on the sale of...

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