-- A preliminary review of fourth quarter 2008 results shows that total
shipments in the fourth quarter 2008 amounted to approximately $19 million,
of which WiMAX shipments during the quarter amounted to $17 million. The
Company expects to defer some revenue from these shipments during the
normal financial review process, which will impact the final fourth quarter
and full year 2008 revenue numbers.
-- In connection with Nortel's January 14th, 2009 bankruptcy
announcement, Airspan has outstanding receivables with Nortel in the amount
of approximately $2.7 million for products and services delivered and
billed through the date of Nortel's bankruptcy filing. Collection of these
receivables is uncertain and will be subject to Nortel's bankruptcy
proceedings. Nortel has informed Airspan that it wishes to continue
purchasing goods and services from the Company.
-- Airspan received a $12.5 million order for equipment and services to
expand the WiMAX network of I.C.E. (El Instituto Costarricense de
Electricidad), through its local partner, Datatell. Shipments commenced in
the fourth quarter 2008 and the bulk of the order will be delivered in
2009.
These updates are preliminary and are subject to further review by the
Company prior to the formal release of earnings. The Company will report
its results for the fourth quarter and full year 2008 on Thursday, March
5th before the market opens. An investor conference call is scheduled for
8:30 a.m. (EST) on the same day. Details of conference call dial in numbers
will be distributed prior to this date.
About Airspan Networks Inc.
Airspan is a leading WiMAX pure player and the solution-provider of choice
for some of the world's largest WiMAX deployments. Developing leading-edge
technology for broadband access and IP-telephony, Airspan continues to
supply operators around the world with best-of-breed solutions. With direct
sales offices throughout Asia, EMEA and the Americas, a worldwide network
of resellers and agents, and partnership alliances with major OEMs, Airspan
boasts over 100 commercial WiMAX deployments worldwide. www.airspan.com.
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements, other than statements of
historical facts, including statements regarding our strategy, future
operations, financial position, future revenues, projected costs,
prospects, plans and objectives of management, may be deemed to be
forward-looking statements. The words "anticipates," "believes,"
"estimates," "expects," "intends," "may," "plans," "projects," "will,"
"would" and similar expressions or negative variations thereof are intended
to identify forward-looking statements, although not all forward-looking
statements contain these identifying words. We may not actually achieve
the plans, intentions or expectations disclosed in our forward-looking
statements and you should not place undue reliance on our forward-looking
statements. There are a number of important factors that could cause actual
results or events to differ materially from the plans, intentions and
expectations disclosed in the forward-looking statements we make. Investors
and others are therefore cautioned that a variety of factors, including
certain risks, may affect our business and cause actual results to differ
materially from those set forth in the forward-looking statements. The
Company is subject to the risks and uncertainties described in its filings
with the Securities and Exchange Commission, including its Annual Report on
Form 10-K for the year ended December 31, 2007. You should read those
factors as being applicable to all related forward-looking statements
wherever they appear in this press release. We do not assume any
obligation to update any forward-looking statements.
Contact Information: For Investor Relations and Media Inquiries, contact: David Brant Senior Vice President & Chief Financial Officer Airspan Networks Inc. Tel: +1 561 893-8650 Fax: +1 561 893-8681 Email: dbrant@airspan.com Charlotte Laurent-Ottomane Investor Relations Email: clottomane@airspan.com Tel. +561 395 4581