On February 4th Alvarion Ltd., a provider of wireless broadband solutions, reported 4th quarter revenue of $22.3 million which was down from $25.2 million in the prior year's 4th quarter. However revenue was up 4% from the $21.6 million reported in the 3rd quarter. Net loss was $5.4 million or 10 cents a share. This included $1.1 million in restructuring costs and $740,000 in deferred stock compensation and the amortization of current technology. The 4th quarter pro forma loss was $3.5 million. The pro forma loss in the 3rd quarter was $4 million. The pro forma loss in the 4th quarter 2001 was $5.6 million. The company is losing money, however, the losses are improving. Alvarion has $162.7 million in cash and investments which comes out to $2.98 per share. Book value is $3.25 per share. The stock trades at 1.5x sales and the company has no debt. 

     Looking at the chart below you can see ALVR has traded in a narrow range and has formed a nice base over the past year. In mid April, the stock broke out on heavier than average volume. We recommend buying as the stock breaks through $2.77 which is it's 52 week high. 
Update 5/19/03 - bought at $2.78
 

Update 7/10/03 - Sold at $5.54 for a gain of 100%.