Before the opening Bell News! Stac Reports Earnings Estimates for First Fiscal Quarter of 1998
SAN DIEGO, Dec. 29 /PRNewswire/ -- Stac, Inc. (Nasdaq: STAC - news) today estimated that its net revenues for its first fiscal quarter ending December 31,
1997 will be approximately $13.9 million and that earnings will be approximately $0.06 per share. The Company expects its revenue for the December 1997 quarter
to be comprised of approximately $6.2 million of semiconductor and software revenue from the Company's Hi/fn subsidiary, $3.7 million of ReachOut and Replica
software revenue, and $4.0 million from license revenues. Estimated earnings per share for the quarter include a $350,000 pre-tax charge for restructuring costs
incurred in the quarter.
During the December 1997 quarter Stac repurchased $5.58 million (943,000 shares) of its common stock under a repurchase program announced October 27,
1997 which authorized repurchases on the open market of up to $10.0 million of its common stock. ''The Company is advising investors of estimated revenues and
earnings for the December 1997 quarter before continuing its repurchase program,'' said Gary Clow, Stac's chairman and chief executive officer. The Company
expects to release a complete earnings report for the December 1997 quarter on January 19, 1998.
Stac, Inc.
Founded in 1983, Stac (Nasdaq: STAC - news) is known worldwide for its innovations in data compression. The Company builds on these advancements to create
high-performance, easy to deploy systems recovery software solutions to protect business-critical data in networked enterprises. Through its OEM networking
products subsidiary, Hi/fn, Stac also provides semiconductor solutions to improve the efficiency, security and manageability of networks. Information on Stac's
award-winning products can be accessed via the Internet at stac.com and hifn.com, by calling the company's North American Headquarters
in San Diego, California: 1-800-279-7822 (U.S. and Canada), Stac's European Headquarters in the United Kingdom: +44 (0) 1344-302900 (Europe), or +1
(619) 794-3741 in other countries.
This news release contains forward-looking statements regarding earnings that involve risks and uncertainties related to estimates of revenues and operating
expenses. Factors that could cause or contribute to such differences include but are not limited to, fluctuations in the Company's operating results, continued new
product introductions by the Company, market acceptance of the Company's new product introductions, new product introductions by competitors, OEM and
distributor inventory levels and customer demand for the products incorporating Hi/fn semiconductors, customer concentration, technological changes in the personal
computer and communications industries, uncertainties regarding intellectual property rights and the other factors. The above risk factors are more fully discussed in
the Company's Annual Report on Form 10-K for the year ended September 30, 1997 and its quarterly reports on Form 10-Q.
Stac, Hi/fn, ReachOut and Replica are trademarks or registered trademarks of Stac, Inc. All other trademarks are the property of their respective owners.
SOURCE: Stac, Inc.
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