Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Stratex Networks, Inc. (STXN) -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (1612)	1/27/2005 9:10:33 PM
From: Rob Preuss	Read Replies (1) \| Respond to of 1762

STXN Q3FY05 Results.... ============================= Stratex Networks Announces Third Quarter Fiscal 2005 Financial Results Thursday January 27, 4:01 pm ET SAN JOSE, Calif., Jan. 27 /PRNewswire-FirstCall/ -- Stratex Networks, Inc. (Nasdaq: STXN - News), a leading provider of wireless transmission solutions, today reported financial results for the third quarter of fiscal year 2005, ended December 31, 2004. Net sales in the third quarter of fiscal 2005 were $49.5 million, up 23 percent compared with $40.3 million in the year ago period. In accordance with generally accepted accounting principles (GAAP), the net loss in the third quarter of fiscal 2005 was $17.9 million, or a loss per share of $0.19, based on 94.7 million shares outstanding. This compares to a GAAP net loss of $9.9 million, or $0.12 per share in the third quarter of fiscal 2004 based on 83.8 million shares outstanding. On a non-GAAP basis, the net loss in the third quarter of fiscal 2005 was $7.9 million or $0.08 per share. The non-GAAP net loss excludes charges totaling $10.0 million associated with severance, the write-off of certain inventory and fixed assets, accruals related to vacated facilities and related charges as a result of the restructuring announced in December. Stratex Networks recorded $54.4 million in new orders during the third fiscal quarter, including more than $22 million of orders for the new Eclipse(TM) product line, representing an 83 percent sequential increase in Eclipse orders. The backlog for all product lines totaled $58.9 million as of December 31, 2004. "We are pleased with the continued rollout of Eclipse, our innovative wireless platform, and especially with the strong orders for Eclipse, which we expect will help drive the sales ramp for next quarter and beyond. We are also pleased with the continuation of gross margin improvements resulting from Eclipse," said Chuck Kissner, Chairman and CEO of Stratex Networks, Inc. "We remain on schedule to introduce our new, lower-cost version of Eclipse in our fiscal fourth quarter ending in March. This new product offering will expand our sales opportunities by enabling additional penetration of Eclipse into the lower speed portion of the wireless transmission market. "In December, as announced, we implemented a significant streamlining of our infrastructure, and expect to realize annualized savings of between $7 million and $8 million by mid-2005. We believe this reduced cost structure, combined with the continued successful ramp of Eclipse, will help us reach our financial goals." Conference Call Stratex Networks management will hold a conference call to discuss the company's financial results today, at 5:00 p.m. Eastern Time. Those wishing to join should dial 303-262-2130 (password: Stratex) at approximately 4:50 p.m. A replay of the call will be available starting one hour after the completion of the call until January 30, 2005. To access the replay, dial 303-590-3000 (pass code: 11021239 #). A live and an archived webcast of the conference call will also be available via the company's Web site at www.stratexnet.com =====================