Appliance Repair Services: Ruckus Wireless Falls After Pricing IPO At Top Of Range

Thursday, December 13, 2012

Ruckus Wireless Falls After Pricing IPO At Top Of Range

Ruckus Wireless Inc. (RKUS) , a maker ofwireless-networking equipment, fell 18 percent in its tradingdebut amid a decline in telecommunications gear stocks, afterraising $126 million in its initial public offering.

The shares fell $2.75 to $12.25 at the close in New York .The company sold 8.4 million shares yesterday at $15 apiece, thetop of the proposed range. The SP North American TechnologyMultimedia Networking Index fell less than 1 percent, while Juniper Networks Inc. (JNPR) dropped 3.4 percent to $16.32.

Ruckus, based in Sunnyvale, California, makes devices thatlet phone companies shunt data traffic from overcrowded cellularnetworks onto higher-capacity Wi-Fi. Optimism for the company'sgrowth prospects failed to make up for weakness in the broadermarket, which weighed on the stock's debut, according to Sam Hamadeh, chief executive officer of PrivCo Media LLC, a NewYork-based firm that tracks private companies.

"The underwriters were far too optimistic," Hamadeh said."A lot of people were looking at Ruckus because they are ahigh-profile, venture-backed company. The reach was too far withthese market conditions."

Carriers are using Ruckus's small networking devices thatcan be placed on telephone poles, street lights or roofs torelieve networks swamped by data traffic from smartphones.

"We believe there's strength in our stock," Selina Lo,CEO of Ruckus, said in an interview. "Despite the bumps hereand there, we think the stock will sustain and grow over time."

The company crossed several obstacles before the offering,including last month's Hurricane Sandy superstorm, a snowstormand then a post-election slump in the stock market, according toLo. Ruckus filed on Oct. 5 to offer shares to the public.

Sequoia Capital is the largest shareholder and didn't sellstock in the offering, regulatory filings show. The Menlo Park ,California-based venture capital firm had a 24 percent stake inRuckus following the IPO.

Revenue nearly doubled in the nine months through Sept. 30to $152.5 million. Net income was $7.4 million, compared withbreak-even results in the year-earlier period, according to theprospectus.

The company said it has no specific plans for the proceedsfrom the offering, and may use them for acquisitions and generalcorporate purposes including sales and marketing.

Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS) led the deal.The stock is listed on the New York Stock Exchange under thesymbol RKUS.

Before starting Ruckus, Lo was vice president of marketingat Alteon Websystems Inc., where she oversaw an IPO and then asale of the company to Nortel Networks Corp. for $7.2 billion in2000.

"We are riding on the increasing gap between the demandfor mobile data and the ability of public networks to increasetheir capacity," Lo said.

To contact the reporters on this story:Elizabeth Wollman in San Francisco at ewollman@bloomberg.net ;Peter Burrows in San Francisco at pburrows@bloomberg.net

To contact the editors responsible for this story:Jeffrey McCracken at jmccracken3@bloomberg.net ;Tom Giles at tgiles5@bloomberg.net

No comments:

Post a Comment

Content

Nothing at all can be a lot more ridiculous as compared to finding a shattered regular utilized home product. It is unquestionably the most sent moment once you find your evryday home use appliances in not working condition. This may probably limit your work as well as daily schedule. Further, when struck in such a scenario, you immediately need to look for an knowledgeable appliance repair service provider to try the home restore task, that can again spoil your other day. Consequently, it is good to test certain things ahead of calling the Las Vegas appliance repairman.

It will be quite previously to call pertaining to home appliance maintenance. There is no need that a machine will become useless after a particular period or even it would quit functioning following your guarantee time period is over. Nonetheless, if it can, go for those tips listed here and then make necessary action.

Set up the engine filters back together again with the dried up wax paper. The next time you are likely to use your washing machine, it's going to smell like vanilla flavouring. You can also alternative this using the scent you want such as lavender or lemon essence.

If your home business office is in disarray, the first task is to undergo everything. I mean every thing. Get yourself some containers or packing containers (depending on the volume of "stuff") and brand them such as so: Document, Shred, Toss, Put Away, Assign, and Action. Go through every thing and allocate it one of the above categories and place the idea in the package. This could require a couple hrs, a whole morning, or even a week depending on how behind you are however do it as well as do it till every very last item is assigned. It's important not to acquire sidetracked. If you come across something should be managed immediately, place it in a specific place to assault when you're finished with organizing for the entire day. Don't commence reminiscing or playing with stuff you haven't affecting awhile, merely stick to your objective until it can be complete!

There is an integrated fuse in many home appliances, which can be located to provide extra security to the power device versus excessive energy. Look at the integrated fuse and modify it together with the new one if neccessary.

When you accomplish DIYs, it's that you are playing. If you need that exact at the same time, then go to a trusted mechanic. Always employ companies that have proven their own caliber to many people customers.