Option Wireless loses €15m

OPERATING losses at the Irish arm of wireless technology manufacturer Option Wireless increased 12-fold to €15.75 million in 2009 as the firm’s revenues halved.

Accounts just filed by Option Wireless Ltd to the Companies Registration Office show that revenues fell 50% from €234.7m to €115.8m to the end of December 2009.

The pre-tax loss of more than €15m in 2009 marks a severe turnaround in the company’s fortunes, following pre-tax profits of €16.9m in 2007.