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Technology Stocks : FBST -- Fiberstars -- Ignore unavailable to you. Want to Upgrade?

To: Keith who wrote (80)	1/15/1998 8:32:00 AM
From: Keith	Read Replies (1) \| Respond to of 87

Fiberstars New Product Orders Above Plan, But Late Tooling Arrivals Reduced December Shipments FREMONT, Calif.--(BUSINESS WIRE)--Jan. 14, 1998--Fiberstars, Inc. (NASDAQ:FBST - news) announced today that although customer orders for its new System 2000(TM) Pool & Spa line exceeded the Company's projections in December, the late arrival of tooling for new System 2000 resulted in a shortfall in shipments at the end of 1997. The shipping delay negatively impacted results for the final quarter of 1997. Sales for the 4th quarter were marginally below the year ago period, and it is expected that the Company will approximately break even for the quarter. ''We are disappointed that we experienced delays in the arrival of components for System 2000, a possibility which we had disclosed in a prior release and SEC filing. However, the fundamentals of our business remain sound. Both of our major business groups are growing,'' said David Ruckert, Fiberstars President, CEO. ''As a result of the shipping delay, only 6% of orders for the new System 2000 illuminator shipped in December, so our 1997 results are lower than plan. Fiberstars ended the year with a record order backlog of $1.3 million, 56% higher than its backlog a year ago. The outlook is positive for 1998, with good customer reaction to the new Pool line and continued growth projected for Commercial Lighting products.''