Printronix Provides Positive Update on Expected Results for Fiscal Third Quarter 2007
31 January 2007 - 8:05AM
Business Wire
Printronix, Inc. (NASDAQ:PTNX), the leading manufacturer of
integrated enterprise printing solutions for the supply chain,
today provided an update on its expected financial results for the
third quarter ended December 29, 2006. The Company currently
expects that its revenue for the fiscal third quarter will be
between $34.7 and $34.9 million, exceeding the high end of the
range provided in its fiscal second quarter earnings announcement
on November 8, 2006. At this higher level of revenues, the Company
anticipates that its net income and earnings per share for the
fiscal third quarter of 2007 will exceed the previous guidance of
$0.07 to $0.14 per share. The increased revenue and earnings
expectations for the fiscal third quarter reflect the unanticipated
closing of several large transactions during the quarter,
especially in the automotive industry. The Company expects to
report its fiscal third quarter 2007 results on or about February
7, 2007. The Company also commented today that it does not expect
any material impact from the recently-announced proposed joint
venture between IBM�s Printing Systems Division and Ricoh. On
January 25, 2007, IBM and Ricoh announced the formation of a joint
venture company called InfoPrint Solutions Company where Ricoh
would initially acquire 51% going to 100% over three years.
Printronix management has been informed that all current IBM
contracts will be assigned to the new company and the Company�s
business will continue as usual. IBM represented 22.5% of
Printronix� total revenue in fiscal 2006. Except for historical
information, this press release contains �forward-looking
statements� about Printronix, within the meaning of the Private
Securities Litigation Reform Act of 1995. Terms such as
�objectives,� �believes,� �expects,� �plans,� �intends,� �should,�
�estimates,� �anticipates,� �forecasts,� �projections,� and
variations of such words and similar expressions are intended to
identify such forward-looking statements. These statements involve
a number of risks, uncertainties and other factors that could cause
actual results to differ materially, including: adverse business
conditions and a failure to achieve growth in the computer
peripheral industry and in the economy in general; the ability of
the company to achieve growth in the Asia Pacific market; adverse
political and economic events in the company�s markets; a worsening
of the global economy due to general conditions; a worsening of the
global economy resulting from terrorist attacks or risk of war; a
worsening of the global economy resulting from an outbreak of avian
flu or other world health epidemic; a worsening of the global
economy resulting from a resurgence of SARS (Severe Acute
Respiratory Syndrome); the ability of the company to maintain its
production capability in its Singapore plant or obtain product from
its Asia Pacific suppliers should a resurgence of SARS occur; the
ability of the company to hold or increase market share with
respect to line matrix printers; the ability of the company to
successfully compete against entrenched competition in the thermal
printer market; the ability of the company to adapt to changes in
requirements for radio frequency identification (�RFID�) products
by Wal-Mart and/or the Department of Defense and others; the
ability of the company to attract and to retain key personnel; the
ability of the company�s customers to achieve their sales
projections, upon which the company has in part based its sales and
marketing plans; the ability of the company to retain its customer
base and channel; the ability of the company to compete against
alternate technologies for applications in its markets; the ability
of the company to continue to develop and market new and innovative
products superior to those of the competition and to keep pace with
technological change; and that InfoPrint Solutions Company, the
successor entity to IBM�s Printing Systems Division, may change its
product and marketing focus in a way that reduces its purchase of
Printronix products. The company does not undertake to publicly
update or revise any of its forward-looking statements, even if
experience or new information shows that the indicated results or
events will not be realized. About Printronix, Inc. Since 1974,
Printronix Inc. (NASDAQ:PTNX) has created innovative printing
solutions for the industrial marketplace and supply chain. The
company is the worldwide market leader in enterprise solutions for
line matrix printing and has earned an outstanding reputation for
its high-performance thermal and fanfold laser printing solutions.
Printronix also has become an established leader in pioneering
technologies, including radio frequency identification (RFID)
printing, bar code compliance and networked printer management.
Printronix is headquartered in Irvine, California. For company
information, see www.printronix.com.
Printronix (NASDAQ:PTNX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Printronix (NASDAQ:PTNX)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Printronix (MM) (NASDAQ): 0 recent articles
More Printronix, Inc. News Articles