I listened to the recent webcast regarding this company's new product line.  Airvana (AIRV) has invested much of its current capital in femtocells, which are smaller and cheaper than traditional cellular base stations.  I got the sense from the webcast that this company is at the forefront but not necessarily leading the market in this area.  Larger companies are working on the same type of idea, but Airvana seems to have a slightly different take on these.

The Airvana management believes this technology will become the wave of the future in telecommunications, and they have invested a lot of money in it.  Keep an eye on Sprint, which was mentioned in the webcast as being currently involved in the femtocell market.  Also keep an eye on Airvana.  If it works for Sprint, growth in Airvana should not be far behind; and if Airvana makes significant positive progress in this market, it may pull ahead of companies like Sprint in terms of percent growth.

That, and the numbers for AIRV look fairly strong from a buy-sell point of view.  They could be better, but they could also be a lot worse.  I don't think I'd go out and buy right now, but it may be worth watching AIRV fairly closely.