STXN reiterates guidance on revenue and earnings. Quarterly financial conference call schedule for 5:00 PM Wednesday 2 August.
Stratex Networks Reiterates Revenue Guidance for Q1 Fiscal 2007
Thursday July 13, 6:04 pm ET
Provides Additional Guidance for Stock-Based Compensation Charges
SAN JOSE, Calif., July 13 /PRNewswire-FirstCall/ -- Stratex Networks, Inc. (Nasdaq: STXN - News), a leading provider of wireless transmission solutions, today reiterated revenue guidance for the first fiscal quarter of 2007, ended June 30, 2006. The guidance was previously issued in the company's quarterly conference call on May 18, 2006.
Revenue is now expected to be at the high end of the guidance range of $62 million to $66 million; earnings per share are also expected to be at the high end of management's expectations, excluding non-cash charges for stock-based compensation of approximately $2.4 million related to the adoption of Financial Accounting Standard 123® and the company's restricted stock plan.
"We are pleased with our anticipated results, and with the excellent progress in meeting recent strong customer demand. The pace of improvements in our supply chain has accelerated significantly, giving us increasing confidence in our capability to meet anticipated future demand for the Eclipse product family," said Tom Waechter, president and CEO of Stratex Networks.
Stratex Networks acknowledges that its anticipated results are preliminary, based on the best information currently available and subject to completion of preparation and audit of its financial statements for the quarter.
Quarterly Conference Call Scheduled for August 2
Stratex Networks management will hold a conference call to discuss the details of the company's financial results for the first quarter of fiscal 2007 on Wednesday, August 2 at 5:00 p.m. Eastern Time. Those wishing to join should dial 303-205-0066 at approximately 4:50 p.m. A replay of the call will be available starting one hour after the completion of the call until August 9, 2006. To access the replay, dial 303-590-3000 (pass code: 11065837#). A live and an archived webcast of the conference call will also be available via the company's Web site at www.stratexnet.com |
