TNSI revises financial forecast, to the downside (sorry, Bald Man)...
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Tuesday November 14, 8:02 am Eastern Time
Triton Network Systems Adjusts Fourth Quarter 2000 Outlook
ORLANDO, Fla., Nov. 14 /PRNewswire/ -- Triton Network Systems Inc. (Nasdaq: TNSI - news) today announced it is revising previous fourth quarter 2000 financial objectives as a key customer, Advanced Radio Telecom (Nasdaq: ARTT - news), has rescheduled product deliveries from the fourth quarter of 2000 into 2001.
Based on preliminary estimates, fourth quarter revenue is expected to be in the range of $9 million to $10 million. A lower volume of shipments is expected to impact gross margins due to excess capacity costs resulting from lower than projected factory throughput. Gross margin as a percentage of revenue is expected to be in the range of 12% to 13%. The net loss per share is expected to be in the range of $(0.40) to $(0.42).
Although the company had previously received firm purchase orders from ART for a significant number of Invisible Fiber® units, ART has informed Triton Network Systems(TM) that it has slowed down the rate of network deployments, in order to conserve cash. As a result, ART has requested that Triton Network Systems postpone delivery of a portion of fourth quarter shipments until 2001.
``Our relationship with ART remains excellent,'' stated Skip Speaks, president and chief executive officer of Triton Network Systems. ``As their primary wireless equipment vendor, we expect to increase shipments to ART after it obtains additional financing, for the rollout of its broadband wireless network in cities throughout the United States. Furthermore, we have agreed to trial our new 38 GHz OC-12/STM-4 Invisible Fiber product in ART's network in the first half of 2001, in response to the ever-increasing market demand for higher bandwidth.''
``Looking forward, demand for high speed access and connectivity continues to be encouraging. Yesterday Pioneer Consulting announced the results of a new comprehensive global market study projecting sales of broadband wireless access equipment to reach $15.2 billion by the year 2010. Our recently announced signing of a supply agreement with Fusion Communications in Japan is one of our most recent successes in the execution of our long term plan to broaden our customer base, and be a dominant supplier of broadband fixed wireless access equipment,'' continued Mr. Speaks.
``A growing customer base, the increasing requirement for big fat pipes, and the broadening acceptance of our consecutive point network architecture lead us to believe that the future for broadband wireless access using Triton Network System's Invisible Fiber units grows brighter,'' concluded Mr. Speaks.
Triton Network Systems expects to discuss its fourth quarter 2000 financial objectives on November 14, 2000. There will be a Webcast at 4:30 p.m. EST today to discuss today's announcement. The Webcast can be accessed at triton-network.com.
About Triton Network Systems, Inc.
Triton Network Systems(TM) is a provider of broadband fixed wireless network products. The company's Invisible Fiber® high bandwidth broadband wireless network product line covers the 38 GHz, Local Multipoint Distribution Service (LMDS), and Local Multipoint Communication Systems (LMCS) markets with functionality designed to fiber optic specifications. Triton Network Systems' broadband fixed wireless Invisible Fiber SONET/SDH and Invisible Fiber Internet products are designed to be deployed in self-healing route-diverse consecutive point networks, providing complete telephony, data and Internet network solutions. The company produces products that help make possible the success of broadband fixed wireless in the telephony and data marketplace, and enables the evolution of the Internet by delivering high-speed connections to businesses using and developing both e-commerce and up-and-coming applications for the Internet. Triton Network Systems is traded publicly on the NASDAQ under the ticker symbol TNSI. For more information visit the Web site at triton-network.com |
