Proxim Wireless released its financial results for the fourth quarter and full fiscal year 2009. Proxim provides end-to-end broadband wireless systems, including WiMAX solutions.
Revenue increased nine percent for the third quarter of 2009 because of the demand for the Tsunami 8100 product line. Sales of these products exceeded $1 million for the fourth quarter.
“With the launch and immediate market acceptance of our Tsunami 8100 products, we saw promising growth at the end of 2009 that we believe will drive revenue growth in 2010,” said Pankaj Manglik, President and CEO of Proxim Wireless. “In addition to these strong products, we also have an exciting pipeline of products that we will bring to market in 2010 that leverage the success of the 8100 platform and address some of the fastest growing markets in wireless. These products will help us expand upon our commitment to the video surveillance, rural broadband, and military markets — all of which have significant growth capabilities in 2010.”
Proxim plans to expand to wireless video surveillance, rural broadband and military applications in 2010. It started building out smart grids, launching the service in Venezuela. Proxim and Systems Integrated deployed Intelligent Transportation System to connect 1,000 traffic intersections and saved Los Angeles County $708,000 annually.
In 2010, Proxim plans to introduce additional products that not only expand upon the 8100 platform, but also target high-growth markets including wireless video surveillance, rural broadband, and military applications.
