Feb. 14 (Bloomberg) -- Alvarion Ltd. declined to the lowest in a week after the telecommunications-equipment maker reported a drop in fourth-quarter revenue and forecast a first- quarter loss.
The shares dropped 1.9 percent to 4.42 shekels, the lowest level since Feb. 7, at 4:08 p.m. in Tel Aviv.
Revenue declined 12 percent to $41.2 million as the company posted a $12 million net loss. It used $5.8 million in cash for its operations. Alvarion forecast a first-quarter loss per share of between 3 cents and 8 cents.
Alvarion “is continuing to deplete its cash reserves because of falling revenue” and is forecasting another loss, said David Levinson, an analyst at Bank Hapoalim Ltd. in Tel Aviv.
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