CoSine Communications Expects 4th Quarter Revenues To Be Up 8-10% Sequentially And Announces Executive Change
REDWOOD CITY, Calif., Jan. 7 /PRNewswire/ -- CoSine Communications, Inc. (Nasdaq: COSN - news), today announced that Q4 2001 proforma revenues for the three months ended December 31, 2001, are anticipated to be in a range of $11.1 million to $11.4 million up 8-10% sequentially from Q3. Also, earnings per share in the same period are anticipated to improve $.01 to $.02 cents sequentially from Q3.
``We are pleased with the demand for our new IP Service Generator (IPSG) blades (formerly known as SHARC), and we are optimistic about the continued growth in demand for IP Services in 2002,'' said Dean Hamilton, CoSine's chairman and CEO.
Hamilton continued, ``Despite the shortened quarter resulting from the mid-November release of the IPSG we are pleased that the focus of our engineering, sales and operations teams has resulted in the successful shipment of this new technology and its rapid acceptance by our customers.''
In additional news, CoSine announced that Craig Collins would be leaving his post as chief financial officer effective January 7, 2002. Collins will be providing transition support to the company through its quarterly earnings process and will assist in the transition to Terry Gibson, CoSine's new chief financial officer (see ``CoSine Communications Names New Chief Financial Officer'' at www.cosinecom.com)
Dean Hamilton said, ``Craig's contributions have been key in assisting the Company in achieving its leadership position in Network based IP Services. All of us at CoSine wish him the best in his new endeavors.''
Craig Collins added, ``Being part of CoSine's development has been a challenging and rewarding experience. I am very optimistic about the future of profit generating, network-based services and believe CoSine will become the standard network platform. This has been a difficult decision but it allows me to pursue opportunities closer to home where I can spend more time with my family.''
CoSine will host a conference call for Q&A regarding this release, today, Monday, January 7 at 2:00 p.m. PST. A web hosted audio simulcast will be available at www.cosinecom.com, as well as an archived web cast.
About CoSine Communications Inc.
Founded in 1998 and based in Redwood City, Calif., CoSine is the leading provider of a new class of infrastructure equipment for Service Providers, allowing them to offer value-added, secure Internet and data services that increase market share, reduce churn and grow profitability in a fiercely competitive market. For more information about CoSine Communications, visit the company's Web site at www.cosinecom.com .
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