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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..] -- Ignore unavailable to you. Want to Upgrade?

To: Peter Ecclesine who wrote (1734)	3/29/2001 10:06:14 AM
From: transmission	Read Replies (1) \| Respond to of 1860

Hybrid Networks Reports Record Results for 4th Quarter, Fiscal 2000 SAN JOSE, Calif., March 29 /PRNewswire/ -- Hybrid Networks Inc. (Nasdaq: HYBR), the worldwide leader in high-capacity MMDS fixed broadband wireless Internet access systems, today reported net sales of $12.9 million for the fourth quarter ended Dec. 31, 2000, compared to $2.6 million for the fourth quarter of 1999, a 396-percent increase. Gross sales for the three months ending Dec. 31, 2000, were $17.6 million. Of the gross sales recognized in the fourth quarter of 2000, $6.6 million, or 38 percent, was attributed to shipments in previous quarters that Sprint accepted during the fourth quarter. The net loss for the quarter was $5.6 million, or ($0.26) a share, compared to a net loss of $9.8 million, or ($0.88) a share, in the same period a year earlier. Hybrid's net loss for the quarter included $4.7 million in non-cash sales discounts relating to the purchase warrants associated with the shipment of products to Sprint. For the year ended Dec. 31, 2000, Hybrid reported gross sales of $29.9 million, compared to $13.4 million for fiscal 1999, a 123-percent increase. Net sales for fiscal 2000 were $22.8 million, compared to $13 million for fiscal 1999, a 75-percent increase. Gross sales in 2000 were reduced by a non-cash sales discount of $7.1 million as a result of the vesting in 2000 of the warrants Hybrid issued to Sprint. The net loss for fiscal 2000 was $37.2 million, or ($2.03) a share, compared to a net loss of $22.2 million, or ($2.08) a share, in 1999. Hybrid reported that the net loss for fiscal 2000 included $13.7 million in non-cash sales and marketing expenses related to the vesting of the warrants issued to Sprint. "Hybrid leads the market with the most fixed broadband wireless deployments worldwide," said Michael D. Greenbaum, president and CEO of Hybrid Networks. "Our field-proven experience enables us to provide our customers with a competitive advantage: more reliable, cost-effective systems. Our recently obtained equity financing permits us to continue developing new technology that answers the public's demand for high-speed Internet access. Hybrid's new near-line-of-sight router, ThruWAVE, dramatically improves system coverage, capacity and scalability and is a significant step in the ongoing evolution of our technology." A live Webcast of the management team's discussion of fourth-quarter and fiscal year 2000 earnings can be accessed at 10:30 a.m. EST today at videonewswire.com. A replay of the Webcast will be available until April 30 at the same Web address. An audio replay will be available until April 30 at 800-568-0017, passcode 6291.