We'll find out soon. <g> Meanwhile..http://biz.yahoo.com/bw/010702/2180.html
Aware Announces Preliminary Second Quarter Results
BEDFORD, Mass.--(BUSINESS WIRE)--July 2, 2001--Aware, Inc. (Nasdaq:AWRE - news)
announced today that it expects revenue for the quarter ended June 30, 2001 will be approximately
$3.8 to $4.0 million. Earnings per share will be approximately $0.00 per share, which is in line with
the company's previous guidance. The company expects to record an income tax benefit of
approximately $0.9 to $1.1 million in the second quarter, which is the result of a year-to-date tax
adjustment. These estimates are preliminary and are subject to change.
``While worldwide demand for DSL service remains strong, the global telecommunications industry
has undergone a significant slowdown, which has affected the DSL supply chain as well,'' said
Michael Tzannes, chief executive officer of Aware. He added, ``The timing of certain transactions
with existing and new customers did not occur as we had expected. We continue to see strong
interest in our intellectual property and remain confident in our ability to ride out these difficult times.
Because of this, we are continuing to invest in our business by hiring new talent, improving our
technology as well as adding new technologies to our intellectual property portfolio.''
Aware will discuss its preliminary expected second quarter results in an investor conference call
today at 4:00 PM EST. The conference telephone number is (877) 307-4222. Replay information
will be available at (800) 642-1687, access code: 1306013. Aware's second quarter 2001
earnings conference is scheduled for July 31st at 5:00 pm EST. The Company will review the
quarter, as well as its outlook, at that time. Information on these calls can also be found on Aware's
website, www.aware.com under Investor Relations.
About Aware
Aware, Inc. designs, develops, licenses and markets DSL technology that enables broadband
communications over existing telephone networks. Its solutions, including splitterless G.lite, full-rate
ADSL, G.shdsl, VeDSL(TM), Dr. DSL®, and DMTflex(TM), address central office as well as
consumer electronics requirements. The company licenses its intellectual property and software to
semiconductor manufacturers and equipment manufacturers who sell products incorporating
Aware's technology. Aware also markets to systems companies to encourage them to design its
technology into their products, and to service providers to encourage them to deploy new
broadband services based on its technology. More information about Aware can be found at
aware.com.
Safe Harbor Warning
Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as
estimates or projections of future revenue and earnings and the growth of the DSL market. Aware wishes to caution you that there are
factors that could cause actual results to differ materially from the results indicated by such statements. These factors include, but are
not limited to: we have a unique business model, our quarterly results are difficult to predict, we depend on a limited number of
licensees, we derive a significant amount of revenue from one customer, we depend on equipment companies to incorporate our
technology into their products, we face intense competition from other DSL vendors, DSL technology competes with other
technologies for broadband access, our business is subject to rapid technological change, and we will require additional engineering
personnel. We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the
section titled Risk Factors in our quarterly report on Form 10-Q for the quarter ended March 31, 2001 and other reports and filings
made with the Securities and Exchange Commission.
Contact:
Aware, Inc.
Sheryl Mellin, (781) 687-0500 |
