San Diego-based Novatel Wireless Inc. (Nasdaq: NVTL) reported its fourth-quarter revenue was $70.7 million, as compared to $109.8 million in the fourth quarter of 2011.
The company reported a fourth-quarter GAAP net loss of $14.9 million, or 45 cents per share. The GAAP net loss includes the impact of non-cash items including $1.1 million in share-based compensation expense; $1 million of employee stock purchase-plan cancellation charges; $300,000 of an intangible asset valuation increase; $2.6 million of depreciation and amortization expense; and $300,000 in deferred tax asset charges.
Fiscal year 2012 revenue was $344.3 million. GAAP net loss for the year was $89.3 million, or $2.72 per share.