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.
Novatel products go into laptop computers and similar devices.
, Mike Allen