AML Communications Inc. Announces Results for First
Quarter, Fiscal 1998
CAMARILLO, Calif.--(BUSINESS WIRE)--July 23, 1997--AML Communications Inc.
(NASDAQ:AMLJ) Wednesday announced operating results for the first quarter ending June 30,
1997.
Revenues for the quarter were $2,515,000, compared with revenues of $3,676,000 for the
three-month comparable period in the prior fiscal year. Net income for the first quarter was
$113,000, or 2 cents per share, on 6,599,000 weighted average shares outstanding compared
with net income of $628,000, or 10 cents per share, on 6,499,000 weighted average shares
outstanding for the three-month period ending June 30, 1996.
Jacob Inbar, chairman and chief executive officer of AML Communications, commented on the
results by saying: ``We are pleased with the fact that our revenue and earnings are in line with
internal expectations for the quarter. Additionally, it validates our intentions to diversify our revenue
base into other amplifier related opportunities and demonstrates our decreasing dependency on the
cellular business as that portion of the revenue contribution was only 57 percent.
``During the transition period that began in the fourth quarter of fiscal 1997, AML has made
aggressive attempts to penetrate other amplifier markets. We are pleased with the initial results as
we have added new customers, received our first wireless contract from overseas and have made
further progress towards more OEM based customers.
``Additionally, AML has been actively demonstrating our new PCS products to new customers,
both domestically and internationally. Our strategy in the upcoming quarter and remainder of the
fiscal year is to stay focused on product introductions for PCS operators and OEM customers,
both of which we believe are instrumental for our future.''
The company also announced Wednesday that its annual meeting of stockholders will be held on
Aug. 27, 1997, at 10 a.m. (PT) at the Courtyard by Marriott Hotel, 4994 Verdugo Way,
Camarillo, Calif., 93012. The record date for stockholders entitled to receive notice of the meeting
is July 15, 1997. The company expects the only matter to come before the meeting will be the
election of directors.
AML Communications designs, manufactures and markets multicarrier amplifiers, masthead
amplifiers and repeaters for the cellular, PCS, paging and other communications markets.
Statements in this news release that relate to future plans, financial results or projections, events or
performance are forward-looking statements and fall within the safe harbor of the Private
Securities Litigation Reform Act of 1995. The company's actual results and financial position could
differ materially from those anticipated in the forward-looking statements as a result of a number of
factors, including but not limited to economic conditions, changing trends within the wireless
communications industry, impact of competition, continued opportunities in the cellular, PCS,
satellite communications and OEM markets, the successful execution of the company's product
expansion plans including the timely development and market acceptance of new products, and
other risks and uncertainties described in detail under the ``Additional Factors That May Affect
Future Results'' section and elsewhere in the company's 1997 Form 10-KSB as well as in the
company's other filings with the Securities and Exchange Commission. |
