Openwave Systems Inc (OPWV, Financial) filed Quarterly Report for the period ended 2012-03-31.
Openwave Sys has a market cap of $216.2 million; its shares were traded at around $0 with and P/S ratio of 1.4.
Net cash provided by investing activities during the nine months ended March 31, 2012 was $3.0 million, which primarily was due to the $10.3 million of maturities or sales of investments, net of purchases of investments, and the $5.2 million gain on sale of discontinued operations related to the location business sale, partially offset by the $0.5 million of property and equipment purchases and the payment of the $12.0 million related to the settlement of the Myriad litigation.
Net cash used for investing activities during the nine months ended March 31, 2011 was $9.9 million, which primarily was due to the $10.4 million of maturities or sales of investments, net of purchases of investments.
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Openwave Sys has a market cap of $216.2 million; its shares were traded at around $0 with and P/S ratio of 1.4.
Highlight of Business Operations:
Cash used for operating activities was $23.2 million during the nine months ended March 31, 2012. This use of cash is primarily a result of the operating results for the period, which included a decline in deferred revenues related to the removal of $1.1 million in deferred revenues related to the Location product business in the third quarter of fiscal 2012, as well as a decline in prepaid and other current assets as there was a decline in software and hardware purchases in the current years period. We paid $15.7 million of restructuring liabilities during the nine months ended March 31, 2012, which included $4.9 million in severance paid to employees impacted by the restructuring announced in August 2011. We expect another $0.1 million of severance to be paid relating to this restructuring plan during the remainder of fiscal 2012.Net cash provided by investing activities during the nine months ended March 31, 2012 was $3.0 million, which primarily was due to the $10.3 million of maturities or sales of investments, net of purchases of investments, and the $5.2 million gain on sale of discontinued operations related to the location business sale, partially offset by the $0.5 million of property and equipment purchases and the payment of the $12.0 million related to the settlement of the Myriad litigation.
Net cash used for investing activities during the nine months ended March 31, 2011 was $9.9 million, which primarily was due to the $10.4 million of maturities or sales of investments, net of purchases of investments.
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