Hook in mouth Roy?->Xybernaut Announces Preliminary Results for Q3 2002; 20% Revenue Increase Over Q2 2002 Expected
FAIRFAX, Va.--(BUSINESS WIRE)--Oct. 14, 2002--Xybernaut(R) Corporation (NASDAQ:XYBR) announced today the Company is expecting revenues for the quarter ending September 30, 2002 to be approximately $2.4 million, which represents an estimated 20% increase over the $2.0 million in revenues realized in Q2 2002.
"We are pleased with the Company's performance in achieving quarter-over-quarter and year-over-year revenue increases despite extremely difficult economic conditions," stated Edward G. Newman, chairman, president and CEO of Xybernaut. "While we are not satisfied that we did not meet our previous guidance, we are especially encouraged by the fact that we achieved these revenue increases while continuing to successfully implement our plan to reduce operating expenses by 50%. These successes coupled with the strong and growing interest we are seeing from numerous industry sectors, gives us reason to be very optimistic about Xybernaut's future financial performance," Newman added.
The Company's previous guidance for revenues in the fourth quarter of 2002 remains unchanged; however, the Company also noted that the timing of orders and shipment of product could affect the timing of revenue realized in that period.
About Xybernaut
Xybernaut Corporation is the leading provider of wearable/mobile computing hardware, software and services, bringing communications and full-function computing power in a hands-free design to people when and where they need it. Headquartered in Fairfax, Virginia, Xybernaut has offices and subsidiaries in Europe (Germany) and Asia (Japan). Visit Xybernaut's Web site at www.xybernaut.com. 6 Xybernaut, the Xybernaut logo and Mobile Assistant(R) V (MA(R) V) are trademarks or registered trademarks of Xybernaut Corporation in the USA and other countries. All other brand and product names are or may be trademarks of, and are used to identify products or services of, their respective owners.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the Company's products, general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
CONTACT:
Xybernaut Corporation, Fairfax
Investor Contact:
John Moynahan, 703/631-6925
jmoynahan@xybernaut.com
or
Media Contact:
Michael Binko, 703/631-6925
mbinko@xybernaut.com
SOURCE: Xybernaut Corporation
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10/14/2002 09:05 EASTERN |
