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Technology Stocks : Aviat Networks -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (177)	8/4/2008 4:23:42 PM
From: Rob Preuss	Read Replies (1) \| Respond to of 312

Sigh. I agree. But I've lost more than respect for them.... I've lost money! I can only hope that Braun will right this ship and start cranking out profits. This link shows that HSTX closed at $7.30, down $3.94 (35.1%) on trading volume of 3.25 million shares. biz.yahoo.com === Harris Stratex shares plunge after weak '08 seen Thursday July 31, 3:57 pm ET Harris Stratex Networks shares sink on fiscal-year profit warning, material accounting errors SEATTLE (AP) -- Shares of Harris Stratex Networks Inc. plummeted to a new year low in heavy trading Thursday after the wireless networking products and services company disclosed accounting errors and predicted it would miss earnings targets. In a statement Wednesday, the company disclosed preliminary results for its fiscal year ended June 27, including the warning that higher-than-predicted expenses kept it from meeting its full-year profit goal of 82 cents per share. Analysts forecast profit of 83 cents per share in earnings, according to a Thomson Financial survey. Morrisville, N.C.-based Harris Stratex said it expects to record an $11 million charge related to a faster-than-expected transition from higher-cost legacy products to lower cost next-generation Internet Protocol-based technology. The company also said it found accounting errors that will require restatement of earnings reports from 2005 through the present. Those errors will cut previously reported earnings by $18 million to $25 million, the company said. Shares plunged $3.98, or 35.4 percent, to $7.26 in late afternoon trading. The stock earlier traded as low as $6.85 after ranging from $8.53 to $20.90 over the past year. Harris Stratex, which is a subsidiary of Melbourne, Fla.-based Harris Corp., also said it would delay reporting earnings for the quarter and the full year. In the current first quarter, the company said it expects sales of $175 million to $185 million.

To: The Ox who wrote (177)	8/5/2008 4:26:06 PM
From: Rob Preuss	Respond to of 312

From the Harris Corp news release today... Harris Stratex Networks, Inc. Harris Stratex Networks revenue for the fourth quarter is expected to be $187 million, a 7 percent increase compared to $174 million in the prior-year quarter. Revenue is expected to increase 5 percent compared to sequential third quarter revenue of $178 million. Harris Stratex Networks (Nasdaq: HSTX - News) is a 56 percent majority-owned subsidiary of Harris. Revenue drivers continue to be the transition to IP networks, the evolution to 4G technologies, and wireless network infrastructure expansion in emerging regions. The company achieved record booking levels in the fourth quarter with a 1.6 to 1 book-to-bill ratio, which is expected to contribute to revenue generation in fiscal 2009. Increased orders came from Africa, Europe, the Middle East and Russia as well as North America. Demand for its Eclipse(TM) product line was particularly strong when compared with prior periods. Segment GAAP operating loss in the fourth quarter is expected to be $36 million. Non-GAAP operating loss is expected to be $19 million and excludes integration costs of $17 million associated with the Harris Stratex Networks combination. The non-GAAP operating loss resulted from unexpected operating cost increases and accounting errors related to prior periods totaling $32 million.