Fiberstars New Product Orders Above Plan, But Late Tooling
Arrivals Reduced December Shipments
FREMONT, Calif.--(BUSINESS WIRE)--Jan. 14, 1998--Fiberstars, Inc. (NASDAQ:FBST - news) announced today that although customer
orders for its new System 2000(TM) Pool & Spa line exceeded
the Company's projections in December, the late arrival of
tooling for new System 2000 resulted in a shortfall in shipments
at the end of 1997.
The shipping delay negatively impacted results for the final
quarter of 1997. Sales for the 4th quarter were marginally
below the year ago period, and it is expected that the Company
will approximately break even for the quarter.
''We are disappointed that we experienced delays in the arrival
of components for System 2000, a possibility which we had
disclosed in a prior release and SEC filing. However, the
fundamentals of our business remain sound. Both of our major
business groups are growing,'' said David Ruckert,
Fiberstars President, CEO.
''As a result of the shipping delay, only 6% of orders for
the new System 2000 illuminator shipped in December, so our
1997 results are lower than plan. Fiberstars ended the year
with a record order backlog of $1.3 million, 56% higher than
its backlog a year ago. The outlook is positive for 1998,
with good customer reaction to the new Pool line and continued
growth projected for Commercial Lighting products.'' |
