Thursday, March 5, 2009

Clearwire Reports Loss

Kirkland, Washington-based Clearwire Corporation, reported its quarterly results Thursday, reporting that it lost $118M on revenues of $20.49M for the three months ended December 31, 2008, and that it lost $432M for the year. The company--which raised $3.2 billion in equity financing during the year--said it is looking to reach into New York, Boston, Washington D.C., Houston and the San Francisco Bay this year. The firm said it is looking to spend between $1.5 to $1.9 billion in 2009 to expand into new markets. Clearwire is working on establishing a nationwide, wireless broadband network based on the WiMax wireless standard.