WJ Communications Revises Guidance for First Quarter 2001
Source: WJ Communications
San Jose, CA. WJ Communications, Inc. (Nasdaq:WJCI) announced today that it has revised its guidance for the first quarter ending March 30, 2001. The Company lowered estimates for first quarter revenues to a range of $16 to $19 million and expects to incur a net loss of $0.05 to $0.07 per share.
"We are revising our forecasts for the first quarter in response to a continued slowdown in the economy and reported weakness in demand by most of our customers," said Malcolm Caraballo, chief executive officer and president of WJ Communications. "Given our limited visibility, we are concerned that these market conditions may extend into the second half of the year."
Caraballo continued, "Over the first nine months of this year, we are easily doubling the size of our product line, with over twenty new product introductions. These new products will further position us to benefit from the roll-out of four major technologies: fixed broadband wireless for the access market, OC-192 and OC-768 for both the metro and long haul fiber optics markets, and 3G wireless in both Europe and the U.S. Given the strength of our current product line and this major expansion of our business, we are confident that strong year-over-year revenue growth will resume when the overall economic outlook improves and demand in our sector regains momentum."
WJ Communications, Inc., headquartered in San Jose, California, designs, develops and manufactures innovative broadband communications products for the current and next generation fiber optic, broadband cable and wireless communications networks.
This release contains forward-looking statements including financial projections, statements as to the plans and objectives of management for future operations, and statements as to the Company s future economic performance, financial condition or results of operations. These forward-looking statements are not historical facts but rather are based on current expectations and our beliefs. Words such as "may," "will," "expects," "intends," "plans," "believes," "seeks" and "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. The Company s actual results may differ materially from those projected in these forward-looking statements as a result of a number of factors, including, but not limited to, technological innovation in the wireless and fiber optic communications markets, the availability and the price of raw materials and components used in the Company s products, and the demand for our wireless and fiber optic systems and products, acceptance of our new products, as well as factors described in the Company s filings with the Securities & Exchange Commission, which can be accessed at www.sec.gov. Readers of this release are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise the forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
WJ Communications, Inc., headquartered in San Jose, California, designs, develops and manufactures innovative broadband communications products for the current and next generation fiber optic, broadband cable and wireless communications networks.
Contact: WJ Communications William Freeman Tel: 408/577-6261 (IR) bill.freeman@wj.com or the blueshirt group Chris Danne or Jennifer Jarman Tel: 415/217-7722 chris@blueshirtgroup.com jennifer@blueshirtgroup.com
WJ Communications
William Freeman
Tel: 408/577-6261 (IR)
bill.freeman@wj.com
or
the blueshirt group
Chris Danne or Jennifer Jarman
Tel: 415/217-7722
chris@blueshirtgroup.com
jennifer@blueshirtgroup.com
E-mail: jennifer@blueshirtgroup.com
Web site: http://www.sec.gov
