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Tuesday, Feb 7, 2023
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Novatel Wireless Caps Off Year With $430M in Sales

Novatel Wireless Inc., a San Diego maker of wireless cards and software that allow users to access the Internet, reported fourth-quarter net income of $11 million on revenue of $118 million on Feb. 20.

That compared with net income of $2.6 million on revenue of $77 million for the like period of 2006.

For all of 2007, Novatel reported net income of $38.4 million on revenue of $429.9 million. That compared with 2006, when Novatel had net income of $443,000 on revenue of $218 million.

Novatel’s shares, traded on Nasdaq under NVTL, closed Feb. 20 at $13.86, but lost $2.49, or 18 percent, in after-hours trading to establish a 52-week low. The high during the period was $29.14.

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Novatel products go into laptop computers and similar devices.

, Mike Allen

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