Company Background
Formed in 1992 to focus on R&D of wireless communications
Pioneering products launched in 1996 as part of DSC Communications – initial work with British Telecom in the UK
One of the first in the world to deploy point-to-multipoint wireless systems
Became an independent private US corporation in February, 1998. Investors included Sevin Rosen, Oak, InterWest and Deutsche Bank
IPO in July, 2000. NASDAQ: AIRN. $88M in proceeds for ongoing operations
Five consecutive years of record revenues – 1997-2001
Difficult 1H02 along with the general industry, but record 2nd half 2002 and Q4, 2002
Acquired Marconi’s WipLL product line (October 2002), adding more than 20 new customers, establishing a universe of unlicensed operators.
More than 130 customers in more than 50 countries at end of Q1 2003, up from 72 at end of 2001