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Technology Stocks : NENG: Network Engines, Inc.
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To: Gus who wrote (133)4/22/2004 3:21:15 PM
From: Gus  Read Replies (2) of 186
 
Network Engines (NENG)
Sales Trend
1Q02 to 3Q04

Quarter  TidalWire     Centera    Others     Total   

1Q02        -        $  1.5M    $  0.6M    $  2.1M    
2Q02        -           2.3M       0.7M       3.0M    
3Q02        -           3.4M       0.7M       4.1M
4Q02        -           4.8M       0.5M       5.3M    

FY02        -        $ 12.0M    $  2.5M    $ 14.5M

1Q03     $ 0.3M         4.9M       0.8M       6.0M    
2Q03      10.2M         8.1M       1.1M      19.4M   
3Q03      12.6M        13.0M       1.4M      27.0M    
4Q03      14.8M        12.1M       1.9M      28.8M     

FY03    $ 37.9M      $ 38.1M     $ 4.2M    $ 81.2M

1Q04      15.9M        16.8M       3.2M      35.9M
2Q04      13.6M        19.2M       2.8M      35.6M
<font color=blue>
3Q04(E)   14.0M       ~17.0M      ~3.0M      34.0M
3Q04(E)   15.0M       ~19.0M      ~4.0M      38.0M
</font>
Business Outlook

Based on current forecasts from certain partners and historical and seasonal trends, Network Engines currently anticipates the following results for its fiscal third quarter ending June 30, 2004:

- Net revenues in the range of $34 million to $38 million.

- OEM Appliance revenues between $20 million and $23 million.

- Distribution revenues in the range of $14 million to $15 million.

- Gross profit in the range of 16 percent to 18 percent.

- Operating expenses between $5.6 million and $5.8 million.

- Net income between $400,000 to $800,000.

- Cash position between $33 million and $35 million.

"Our March quarter's revenue and net income showed better than expected strength, primarily due to the timing of shipments to certain OEM Appliance partners," stated Doug Bryant, Vice President of Finance and Administration and Chief Financial Officer. "Profitability remains one of our top priorities while we carefully continue to invest in the business. This is a critical time for the Company as we are rolling out our co-branded appliances, which we expect to start to contribute to revenues in subsequent quarters."

networkengines.com
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