DIGL ($28-->$32) Revenues for Second-Quarter 2001 26c vs 25c
Business Editors/High-Tech Writers
CLEARWATER, Fla.--(BUSINESS WIRE)--July 17, 2001--
Posts Actual $0.28 EPS on $34.5 Million Quarterly Revenues,
Pro Forma Fully Taxed EPS of $0.26 versus $0.12
Digital Lightwave(R), Inc. (Nasdaq:DIGL), a leading provider of
optical networking products and technology, today announced financial
results for the second quarter ended June 30, 2001.
Second-quarter revenues were $34.5 million, up 56 percent from the
$22.1 million reported for the second quarter of 2000. Net income was
$9.3 million, or $0.28 per share (diluted), an increase of 50 percent,
as compared with $6.2 million, or $0.20 per share (diluted), for the
year-earlier quarter. On a pro forma basis, fully taxed earnings were
$0.26 per share for the second quarter, an increase of 117 percent, as
compared with $0.12 per share for the same quarter last year.
Revenues for the first half of fiscal 2001 were $68.9 million, up
69 percent from the $40.7 million reported for the first half of
fiscal 2000. Net income was $22.3 million, or $0.69 per share
(diluted), an increase of 114 percent, as compared with $10.4 million
or $0.33 per share (diluted) for the same period of fiscal 2000. On a
pro forma basis, fully taxed earnings were $0.53 per share, an
increase of 152 percent, as compared with $0.21 per share for the same
period last year.
"Despite a difficult telecom spending environment, we are
satisfied with our second-quarter results, which were driven by
continued demand for our portable products and the domestic growth of
our Network Access Agent(TM) (NAA(TM)) business," said Gerry
Chastelet, chairman, president and chief executive officer of Digital
Lightwave. "In addition, the announcements in the quarter of the NIC
Plus(TM) and a high density version of the NAA IV(TM) provides our
customers with a scalable family of products for installation,
maintenance and monitoring applications. With the current industry
focus on reduced capital spending, these new products protect customer
investments in NIC 10G(TM) and NIC 2.5G(TM) technology by providing
standards-based, seamless migration platforms for high-end portable
test applications and for the implementation of more cost effective,
less labor intensive, centralized performance monitoring systems."
According to Chastelet, the company's North American portable
business was reflective of the continued down turn in the sector,
however, Digital Lightwave's customer base grew during the quarter as
the company expanded its presence in international markets. Key
customers taking product in the second quarter included CIENA, Qwest
and TyCom, as well as distribution partners Conformance Standards
Limited (CSL) and Wandel Global Services (WGS).
Quarterly Business Highlights
-- Completed shipments of approximately $8 million of NAA
products to Qwest and TyCom by Digital Lightwave's Technology
& Systems Division.
-- Established a major international distribution partnership and
entered into the company's first private-label sales agreement
with Wandel Global Services (WGS) to address the Asian Pacific
and Latin American markets.
-- Announced and shipped significant enhancements to the Network
Access Agent NAA IV product family by providing substantial
increased port density, NIC 2.5G and NIC 10G migratability
with the NAA IV adapter card and the addition of enhanced sub
rate analysis capabilities to address both optical and
electrical network technologies.
-- Introduced the NIC Plus, an important extension to Digital
Lightwave's Network Information Computer family, offering a
new modular, scalable solution for global communications test
requirements with a full range of functionality -- including
SONET/SDH, T-Carrier, PDH, ATM, and POS standards -- in a
single platform.
About Digital Lightwave, Inc. |
