Stratex Networks Reiterates Revenue Guidance for Q1 Fiscal 2007
14 July 2006 - 9:04AM
PR Newswire (US)
Provides Additional Guidance for Stock-Based Compensation Charges
SAN JOSE, Calif., July 13 /PRNewswire-FirstCall/ -- Stratex
Networks, Inc. (NASDAQ:STXN), a leading provider of wireless
transmission solutions, today reiterated revenue guidance for the
first fiscal quarter of 2007, ended June 30, 2006. The guidance was
previously issued in the company's quarterly conference call on May
18, 2006. Revenue is now expected to be at the high end of the
guidance range of $62 million to $66 million; earnings per share
are also expected to be at the high end of management's
expectations, excluding non-cash charges for stock-based
compensation of approximately $2.4 million related to the adoption
of Financial Accounting Standard 123(R) and the company's
restricted stock plan. "We are pleased with our anticipated
results, and with the excellent progress in meeting recent strong
customer demand. The pace of improvements in our supply chain has
accelerated significantly, giving us increasing confidence in our
capability to meet anticipated future demand for the Eclipse
product family," said Tom Waechter, president and CEO of Stratex
Networks. Stratex Networks acknowledges that its anticipated
results are preliminary, based on the best information currently
available and subject to completion of preparation and audit of its
financial statements for the quarter. Quarterly Conference Call
Scheduled for August 2 Stratex Networks management will hold a
conference call to discuss the details of the company's financial
results for the first quarter of fiscal 2007 on Wednesday, August 2
at 5:00 p.m. Eastern Time. Those wishing to join should dial
303-205-0066 at approximately 4:50 p.m. A replay of the call will
be available starting one hour after the completion of the call
until August 9, 2006. To access the replay, dial 303-590-3000 (pass
code: 11065837#). A live and an archived webcast of the conference
call will also be available via the company's Web site at
http://www.stratexnet.com/ About Stratex Networks With headquarters
in San Jose, California, Stratex Networks, Inc. is one of the
world's leading providers of high-speed wireless transmission
solutions. Since it was founded in 1984, Stratex Networks has
achieved international recognition for quality, innovation, and
technical superiority in delivering data, voice, and video
communication systems, including comprehensive service and support.
Stratex Networks, with its broad product offering and worldwide
sales and support organization, is strategically positioned to
serve its customers' needs in wireless high-capacity transmission
technology. Additional information is available at
http://www.stratexnet.com/ . Safe Harbor Statement This press
release contains statements that qualify as "forward-looking
statements" under the Private Securities Litigation Reform Act of
1995, including statements relating to the Company's expectations
for revenue for the first fiscal quarter of 2007, ended June 30,
2006 and earnings per share, excluding stock option expense. The
Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of
significant risks and uncertainties including order cancellations,
postponements in product deliveries resulting in delayed revenue
recognition, In addition, because the Company's business is heavily
concentrated in foreign markets, there is a significant risk of
adverse currency fluctuations and unforeseen governmental action
including but not limited to the denial of export and/or import
licenses. For a further discussion of these and other factors that
impact the Company's business in general, see the information
provided under the heading "Factors That May Affect Future
Financial Results" in the Company's Quarterly Report on Form 10-K
for the period ended March 31, 2006 on file with the Securities and
Exchange Commission. DATASOURCE: Stratex Networks, Inc. CONTACT:
Investor Contact, Mary McGowan of Summit IR Group Inc.,
+1-408-404-5401, or Web site: http://www.stratexnet.com/
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