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Technology Stocks : BroadBand Technology(BBTK) -- Ignore unavailable to you. Want to Upgrade?

To: Jimbo Cobb who wrote (1566)	2/6/1998 12:15:00 AM
From: MangoBoy	Respond to of 1797

[Broadband Technologies Posts Narrowed 4th-Quarter Net Loss] NEW YORK -(Dow Jones)- Broadband Technologies Inc. late Thursday reported a narrowed fourth-quarter loss that included a gain. However, the telecommunications-equipment concern also posted a 70% skid in sales. Meanwhile, the company announced it signed agreements with Lucent Technologies Inc. valued at a total of $50 million over three-years. BroadBand Technologies (BBTK), a Durham, N.C.-based manufacturer of switched digital video systems for telephone companies, said its fourth-quarter net loss narrowed to $6.1 million, or 45 cents a share, from $8.5 million, or 64 cents a share, the previous year. Results for the latest quarter included gain of $5 million from the release of performance fees previously reserved in the amount of $5 million, or 38 cents a share. Analysts surveyed by First Call were expecting the company to post a loss of 81 cents a share in the latest quarter. Fourth-quarter sales tumbled to $2.3 million from $7.9 million a year ago, the company said. Broadband said its pacts with Lucent (LU) include a development contract, an original-equipment-manufacturer agreement, an intellectual-property license, a contract manufacturing agreement and other considerations related to the resolution of outstanding contracts.

To: Jimbo Cobb who wrote (1566)	2/6/1998 12:20:00 AM
From: MangoBoy	Respond to of 1797

[BBTK Q4 & Year-End 1997 results] bbt.com BROADBAND TECHNOLOGIES, INC. REPORTS FINANCIAL RESULTS FOR THE FOURTH QUARTER AND YEAR-END FISCAL 1997 RESEARCH TRIANGLE PARK, NC - Feb. 5, 1998 - BroadBand Technologies, Inc. (NASDAQ: BBTK), a leading provider of interactive switched digital broadband systems, today reported results for the fourth quarter and entire fiscal year ending December 31, 1997. Net sales for the quarter were $2.3 million compared to $7.9 million recorded for the same period last year. The company reported a net loss for the quarter of $6.1 million or ($.45) per share, compared with a net loss of $8.5 million or ($.64) per share, for the same period a year ago. The loss for the quarter was favorably impacted by the release of performance fees previously reserved in the amount of $5 million or $.38 per share. Payment of the performance fees, which were accrued in the third quarter due to product delays for the joint Lucent/BBT Switched Digital Broadband Access System, were resolved as part of the company's new relationship with Lucent. (See February 5, 1998 Strategy Release) For fiscal year 1997, total revenues were $15.0 million compared to $23.1 million recorded in the previous fiscal year. Net loss for the 12 months increased to $39.8 million ($3.00) per share, compared to net loss of $31.0 million or ($2.35) per share in the previous fiscal year. After adjusting for one-time items including obsolete equipment charges of $1.9 million or $.14 per share, the net loss would have been ($2.86) per share. The company's operating results continue to reflect an unfavorable regulatory environment, impact of prior product delays, the long evaluation and implementation process that is typical of customers for major communications infrastructure changes, as well as investment in the second generation product and market development of the FLXr-2500 platform. "Although the product is ready for field deployment, regulatory delays and lack of real competition in the local market have resulted in continued uncertainty in the marketplace and limited expectations for FLX-2500 shipments in the near-term. While growth in the broadband access market is still anticipated, BroadBand is taking concrete steps to target emerging needs in the established, high-growth loop access market and improve our financial position," stated David E. Orr, President and CEO for BroadBand. "Our new strategy will capitalize on emerging market trends in local access, provide funds to offset research and development costs and gain access to intellectual property to speed new product development. We are also seeking an international strategic alliance to enhance the FLX-2500 platform to meet the emerging Full Service Access Network (FSAN) standard." To jump start its three-part strategy, yesterday BroadBand signed multi-million dollar agreements with Lucent Technologies including a development contract for elements of Lucent's AnyMedia(TM) Access System, intellectual property license, an OEM agreement, a contract manufacturing agreement and other consideration related to resolution of outstanding contracts. The total value received from these agreements is estimated at more than $50 million over a three-year period. "BroadBand is building on its core competency and following a strategy that will enable it to apply its technology against a broader set of opportunities domestically and overseas," stated Orr. "We are extremely excited about the direction we are taking to add value to not only our shareholders, but our customers, our team members and our industry." The new three-part strategy will set the foundation for BBT's independence while capitalizing on the benefits of allying with Lucent and other companies. It will position BBT to participate in the $2 billion converging voice and data access markets as it moves forward. BBT will be less reliant on partners and on the video demand from traditional network operators and, it will have access to technology and be generating new revenues from development contracts as it develops its own products. About BroadBand Technologies, Inc. BroadBand Technologies Inc., based in Research Triangle Park, N.C., was founded in 1988. Its mission is to deliver products and services that enable network and service providers to offer consumers robust, economical electronic access to advanced communication, entertainment and information services. This press release contains forward-looking statements about the company's performance, including future revenue from Lucent, the development of new products and the negotiation of an international alliance. There can be no assurance as to the ultimate value of these items. The Company's Form 10-K, Form 10-Qs and other documents on file with the Securities and Exchange Commission identify important factors, including information about the past results of BBT's reliance on Lucent, which could cause actual results to differ materially from those indicated by the forward looking statements. However, forward looking statements are beyond the ability of the Company to control and in many cases the Company cannot predict what factors would cause actual results to differ materially from those indicated by the forward looking statements. For more information on BroadBand Technologies, please see our new homepage at bbt.com. #### Note to editors: FLX is a registered trademark of BroadBand Technologies Inc. All other trademarks are trademarks or registered trademarks of their respective companies. CONTACT: Timothy Oakley BroadBand Technologies Inc. (919) 405-4611 oakley@bbt.com Jon Bornstein Copithorne & Bellows (919) 562-6787 jon.bornstein@cbpr.com