Sorry Thread, CACS just warned:
Carrier Access to Report Lower-Than-Expected Third-Quarter Financial Results
BOULDER, Colo.--(BUSINESS WIRE)--Oct. 3, 2000--Carrier Access Corporation (Nasdaq: CACS - news), a leading provider of broadband access equipment, announced today that it expects lower-than-anticipated operating results for the third quarter ended September 30, 2000.
The Company indicated that when it reports final operating results on Thursday, October 19, 2000, it expects to report revenue for the third quarter between $38.0 and $40.5 million, and fully diluted earnings per share, excluding charges related to acquisitions, is anticipated to be between $.15 and $.18.
The Company said that revenues and earnings are below expectations due to several anticipated orders that did not close in the last week of the quarter, a slower-than-expected start of sales to ILEC and IXC customers and lower-than-expected sales to certain CLEC customers.
``In the third quarter we had several customers that did not meet our sales expectations for a variety of different reasons,'' reported Tim Anderson, Carrier Access' CFO.
Roger Koenig, Carrier Access' CEO and president, said: ``Although we are disappointed with our third-quarter results, we believe that this is an isolated setback. We continue to be encouraged by the diversity of our customer base and the value proposition our products bring to our customers in many different market segments. We intend to continue our focus on engineering and delivering innovative products that lower the cost of broadband access to the mass market. We believe that this strategy is key to our continued long-term growth.''
Carrier Access has scheduled a 5:00 p.m. EST conference call today for investors and analysts. Those who wish to participate in the call should dial 913/981-5510, domestically or internationally, ten to fifteen minutes prior to the 5:00 p.m. EST call and reference Carrier Access. Carrier Access has also scheduled this event to be broadcast live via web cast and replayed until 5:00 p.m. EST on October 5, 2000. To access this event please go to the Investor Relations page of our web site at carrieraccess.com, or streetfusion.com. |
