It’s safe to say that Clearwire, the Bellevue-based mobile broadband company, is going through a transformative period as two rival bids (one from Sprint and other from Dish Network) remain outstanding.
As that drama continues to unfold, Clearwire today posted fourth quarter and year-end results. In an earnings call today, CEO Erik Prusch briefly addressed the rival bids, saying that the review process is ongoing. He declined further comment.
Clearwire’s business remains under pressure as it attempts to switch from a WiMax to a LTE wireless network. . The company’s revenue increased by just one percent in 2012, coming in at $1.26 billion. Meanwhile, fourth quarter revenue dropped 14 percent to $311.2 million driven in part by a decline in wholesale revenue.
Amid those declines, Clearwire’s subscriber count fell eight percent to 9.6 million. The company said that the decline in subscribers was largely driven by the discontinuation of postpaid WiMax offerings from Sprint.
Clearwire continues to lose money, though the company was able to trim the losses in the fourth quarter. It lost $187 million during the fourth quarter, compared to a loss of $236 million for the fourth quarter of 2011. For the year, the company lost $728 million, compared to a loss of $717 million in 2011.
Shares of Clearwire are up more than 50 percent in the past year, driven largely by the rival bids from Sprint and Dish Network.
Full earnings report here.
