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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]

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To: transmission who wrote (1710)	3/26/2001 8:39:00 AM
From: transmission	Read Replies (2) of 1860

different drummer but accurate tune probably: Vyyo Inc. Significantly Lowers Revenue Estimates For First Quarter and Fiscal Year 2001 Increases Stock Repurchase Program by 6 Million Shares CUPERTINO, Calif., March 26 /PRNewswire/ -- Vyyo Inc. (Nasdaq: VYYO) announced today that it anticipates its revenues for the first quarter ending March 31, 2001 will be significantly lower than its previous expectations. Vyyo now estimates that revenues for the first quarter will be less than $1 million. The lowered revenue expectations are due to significantly reduced orders from system integrators as well as to the inability of customers and potential customers to obtain adequate financing as a result of deteriorating global economic conditions. The Company believes that end user demand for broadband access and the market opportunity for wireless remains strong, despite being limited in the near term by deployment and financing issues. In addition, the reduction in revenue is not due to business lost to competitors, and the Company believes its competitive position remains intact. Based on Vyyo's information as to current market conditions, the Company believes that its revenues for fiscal 2001 will exceed $20 million and that the Company's breakeven on the pro forma net income level will be delayed into 2002. Vyyo intends to release its financial results for the first quarter in April and will provide further guidance for the remainder of the year at that time. The Company has also increased the number of the Company's shares it may purchase under its repurchase program by 6 million shares, subject to any applicable regulatory restrictions. The company has repurchased 1.7 million shares to date in the repurchase program. As of March 31, 2001, the Company expects to have cash and cash equivalents of approximately $105 million, or approximately $3 per share. The company will discuss this matter in a conference call today, March 26, 2001 at 8:00 a.m. Pacific Standard Time. Those wishing to participate in the call should dial 800-276-6308 or 303-205-0033, approximately ten minutes before the call. A replay of the call will be available from March 26 at 10:00am Pacific Standard Time until April 4 at 10:59 p.m. Pacific Standard Time. To listen to this replay, please call 800-456-4943 or 402-220-0055. The access code for the replay is 313936#. You are invited to listen to the call live over the Web by going to the following site: videonewswire.com.

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