Wireless Broadband Continues to Shine

• TeraGo Networks Raises More Money
• TESSCO Prospers Depite Loss of Data Center

by ISP-Planet Staff [January 21, 2003]

Two recent news items show that optimism is warranted in the fixed wireless broadband space.

TeraGo Networks Raises More Money
Toronto-based TeraGo Networks announced last week that it raised another C$3 million from investors, bringing its total funding to C$36 million in the past 20 months. The privately held company provides businesses and organizations with wireless broadband service at speeds ranging from 1.5 Mbps to 100 Mbps. The company holds 70 frequency licenses in the 24 GHz and 38 GHz bands in four Canadian provinces: Alberta, British Columbia, Manitoba, and Ontario.

During 2002, the company acquired Onsite Access Canada, a provider of in-building broadband service focusing on the small- and medium-size enterprise (SME) area that serves about 30 buildings in Toronto. The move gave TeraGo access to a major urban market.

The company says it currently has over 700 business customers and is adding about 40 more each month, a growth rate of 40 percent per quarter.

TeraGo is optimistic about the future. It achieved industry recognition when its president and CEO, Bryan Boyd, was elected to the board of directors of the Wireless Communications Association. Before joining TeraGo, Boyd was a vice president at PSINet.

(Back to top)

TESSCO Prospers Depite Loss of Data Center

Not even the disastrous flooding of its data center could hold the company back. Hunt Valley, Md.-based TESSCO Technologies (NASDAQ: TESS), a wireless equipment retailer, announced last week that the company achieved a profit in spite of losing its central sales, support, and data center to a burst public water main on October 12, 2002. Although the flood negatively affected the company's earnings, Robert Barnhill, Jr., chairman and CEO, said that he is proud of the company and its employees.

Barnhill said, "I am very pleased with TESSCO's response and performance despite the devastation to our operational core. While the loss and related recovery effort delayed our initiatives to continue to grow revenues and profits, we feel we are now tracking to regain our momentum. Today we have temporarily relocated our displaced team members and operations are almost back to normal. We have begun rebuilding and pursuing our aggressive marketing and sales programs. TESSCO's reputation and credibility with our customers is stronger than ever. Because of the efforts, commitment and the 'make it happen' attitude of the TESSCO people and outside partners, TESSCO accomplished the impossible. I extend special gratitude to this group whose prowess and devotion were capable of turning the tide of the disaster."

The company will file its next quarterly report to the SEC on or around February 13, 2003. The company has not yet filed an insurance claim for the water main break. Although it plans to file a claim, it does not know how much money it will obtain.

(Back to top)

—End
   

Related articles:
	[Nov. 26, 2002]	Stepping Up To 28 GHz
	[Nov. 21, 2002]	Wi-Fi News Briefs
	[Oct. 22, 2002]	TESSCO, Wireless Business Barometer?