Aether Cuts Losses on Reduced Revenues

Chairman and CEO Dave Oros noted that Owings Mills, MD-based Aether has substantially reduced its operating expenses as it attempts to become profitable. In the third quarter, operating expenses dropped to $20.5 million, compared to $28.7 million in the second quarter and $108.4 million in the third quarter of 2002.

“Reaching profitability in the short term remains a key priority, [so] we have continued to aggressively manage costs and reduce expenses,” Oros said. “While revenue was somewhat below expectations, we have continued to work at improving our overall financial position.”