ASNT, old dark horse, has dome 70k by 2.07p...36/.40 up .07...:
Asante Announces Fourth Quarter 2001 Operating Results
Improved Quarterly Earnings
SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 6, 2001--Asante Technologies, Inc. (Nasdaq:ASNT.OB - news) today announced results for the fourth quarter of fiscal 2001. The Company reported revenues of $5.2 million for the quarter ended September 29, 2001, a 5.4% increase from $4.9 million in the third quarter ended June 30, 2001. The Company posted a net loss of $126,000, or $0.01 per basic and diluted share, for the quarter, compared to a net loss of $557,000, or $0.06 per basic and diluted share, in the preceding quarter. The improved quarterly results were due to increased sales of the Company's Gigabit Ethernet products. Compared to the fourth quarter of the prior fiscal year, sales were down approximately 31%, from $7.5 million, due primarily to the current economic downturn. For the comparable quarter of fiscal 2000, the Company posted a net income of $412,000.
Revenues totaled $22.1 million for fiscal 2001; a decrease of 25 percent as compared with $29.3 million for the same period a year ago, reflecting primarily the economic slowdown in the industry and to some extent the continued decrease in sales of aftermarket adapter cards. The Company reported a net loss for fiscal 2001 of $0.9 million, or $0.10 per basic and diluted share, compared with, a net income of $0.4 million, or $0.04 per basic and diluted share in the prior year. The Company continued to control costs and reduce overhead expenses allowing it to maintain product margins of approximately 36%.
New IntraCore Switch and AeroLAN Wireless
In this past quarter, the Company expanded its flagship IntraCore product line with a new stackable workgroup switch series. The IntraCore 3524 Series features two modular uplink slots for any combination of Gigabit or Fast Ethernet running over copper or fiber optic links. With five different modules to choose from, users can deploy multimedia services (voice, video, audio and telephony) over existing cabling. With OneView(TM) integrated management software, larger organizations can control and configure up to 194 ports under a single IP network address--greatly easing network management tasks. One highly anticipated feature, Asante's optional Bandwidth On-Demand(TM), will permit larger enterprises and Multiple Tenant Unit (MTU) customers to allocate network bandwidth to their users.
For small office and home office (SOHO) users, the Company unveiled the industry's first wireless-upgradeable broadband router. Users can upgrade to 11 Mbps wireless (or future higher speed standards) by simply installing an AeroLAN PCMCIA module. These innovative products promptly picked up three more industry awards including ``Best of Show'' from Macworld.
Streamlined For Growth
``I am pleased with the Company's improved results for the fourth quarter. During this difficult period, the Asante team has planned, executed and delivered several world class products,'' remarked Wilson Wong, Asante's Chairman, President and CEO. ``The demand for the IntraCore 3524 Series switches in MTU applications has been very strong in several of our key worldwide markets. As we continue to hone our expertise in this emerging market, the Company will become a leading force in upcoming quarters. Additionally, we have begun seeing significant increased international interest in the Company's high-value Gigabit Ethernet products, which we feel confident provides the Company with the tools to penetrate new markets and help offset the effects of this current downturn.''
About Asante
Founded in 1988, Asante is a world leader in supplying network connectivity products for Macs and PCs. The Company's FriendlyNET products simplify networking and provide Internet access for small offices/home offices, digital pre-press and education (K-12 and universities). The Company's IntraCore intelligent Gigabit Ethernet switches support multi-service applications for large enterprises, educational institutions and multi-tenant unit applications. Asante's headquarters are located at 821 Fox Lane, San Jose, CA 95131. For additional information, call 408-435-8388 or visit Asante's website at asante.com. |
