Heres our warning! MRVC increases guidance!
MRV Expects Revenue to Exceed Q3 Guidance; Anticipates $50.5 Million Non-Luminent Revenue
CHATSWORTH, Calif., Oct 10, 2001 /PRNewswire via COMTEX/ -- MRV Communications, Inc. (Nasdaq: MRVC chart, msgs), a world-class leader in network infrastructure systems and optical components, today announced it expects third quarter 2001 non-Luminent revenues to exceed $50 million. Original third quarter projections prior to the second quarter were in the $43-$47 million range, and increased to the $46-$50 million range on July 30, 2001.
Third Quarter Conference Call Information
MRV will announce its third quarter fiscal year 2001 results on October 29, 2001 at approximately 4:00 p.m. Eastern Time. Following the announcement, MRV Communications will host a conference call to discuss these results at 5:00 p.m. Eastern Time. The call will be simultaneously webcast on the MRV Communications website at www.mrv.com.
The call will also be available via telephone for listeners electing not to utilize the webcast. The dial-in number, 212-896-6061, access code 19850270, will be available approximately ten minutes prior to the start of the conference call.
Replay Information
A replay of the call will be available on the company's website, beginning at 7:00 p.m. Eastern Time, at www.mrv.com. In addition, a replay will be available by phone from 7:00 p.m. Eastern Time, October 29, 2001 to 7:00 p.m. Eastern Time, November 1, 2001 at 800-633-8284 domestic and 858-812-6440 international, access code 19850270.
About MRV Communications, Inc.
MRV Communications, Inc. is a world-class leader in network infrastructure systems and optical components. The company has leveraged its early leadership in fiber optic technology into a portfolio of well-focused operating entities. Accordingly, MRV formed a balanced portfolio of independent business units such as Luminent, Optical Access, iTouch Communications, Cescomm, NBase-Xyplex and other entities, including European subsidiaries. In addition, MRV helped create and manage several cutting edge start-up companies including Zaffire, Charlotte's Networks, Zuma Networks, RedC Optical Networks, Optical Crossing and All Optical. Visit MRV's web site at mrv.com.
Forward-Looking and Cautionary Statements:
This press release contains projections that are preliminary and subject to change materially for a variety of reasons, including revenue-related adjustments. The statements in this release are based on MRV's current expectations as of October 10, 2001. Statements contained in this press release may constitute "forward-looking statements" and are made Pursuant to the Private Securities Litigation Reform Act of 1995. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including: the Company's reliance on a small number of key customers, the Company's expectation that it will incur net losses for the foreseeable future, the long sales cycles for the Company's products, the risks the Company faces due to its international sales and operations, the Company's limited operating history, the Company's reliance on the development of the optical networking market, macroeconomic factors, including the current domestic and worldwide economic downturn and economic,
political and military uncertainties associated with and resulting from the September 11, 2001 terrorists attacks on the Would Trade Center and the Pentagon, the need to manage the Company's growth effectively, the Company's success at developing and introducing new products, competition, the Company's success at increasing market awareness of the Company and its products, the Company's success at eliminating product defects prior to installation in large, complex systems, the Company's lack of long-term contracts with its customers, the Company's reliance on key personnel, the effect of possible future acquisitions, the Company's ability to procure necessary resources, the Company's ability to forecast component and material requirements, the Company's ability to increase sales volumes, reduce costs and introduce higher margin products, the Company's dependence on single and limited source suppliers, the qualification of the Company's manufacturing lines and products, the ability to cost effectively enforce the Company's intellectual property rights, the Company's ability to acquire
licenses for third-party technology, the Company's ability to fund its growth and development, MRV Communications' current control of the Company and potential conflicts of interest, the planned merger or other alternatives of MRV and the Company, and other risks outlined in the Company's SEC filings including the Company's Annual Report on Form 10-K for the year ended December 31, 2000 and the Company's Quarterly Report for the three months ended June 30, 2001 and March 31, 2001, and the Company's Form S-1 filed on August 8, 2001. The Company undertakes no obligation to update this forward-looking information.
For further information, please contact Diana Hayden, Investor Relations of MRV Communications, Inc., +1-818-886-6782.
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Source: MRV Communications, Inc.
Contact:
Diana Hayden, Investor Relations of MRV Communications, Inc.,
+1-818-886-6782
URL: mrv.com |
