Oppenheimer on Alvarion Ltd. (ALVR): Potential NASDAQ Delisting Keeps Us Sidelined

August 3, 2012 2:16 PM EDT
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Price: $0.57 --0%

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Oppenheimer maintains a 'Perform' on Alvarion Ltd. (NASDAQ: ALVR).

Analyst, Andrew Uerkwitz, said, "Alvarion reported an in-line 2Q12 with revenue of $33.8M. Non-GAAP EPS of -$0.08 were 2 cents below lower range of guidance. Mgmt revealed more restructuring details such as establishing Carrier Licensed Solutions as a stand-alone business division and aligning costs with a lower revenue run rate. Cost cuts are expected to continue through the Q4. We applaud mgmt's aggressive targets, including operational cash breakeven by Q4, but worry that in light of macro weakness, continued strategy review, and product transitions, it may be setting the bar too high. The potential for NASDAQ delisting and execution risk keep us sidelined." (FY12 EPS lowered from (0.27) to (0.28)

For an analyst ratings summary and ratings history on Alvarion Ltd. click here. For more ratings news on Alvarion Ltd. click here.

Shares of Alvarion Ltd. closed at $0.37 yesterday.

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