Terabeam Lays Foundation for Profitable Growth
24 July 2007 - 10:31PM
Business Wire
Terabeam, Inc. (NASDAQ:TRBM), a leader in core-to-client solutions
for broadband municipal wireless networks, today announced
preliminary financial results for the second quarter of 2007 and
cost-saving measures which, together with the recently announced
private investment, lay the foundation for profitable growth in the
future. Terabeam announced that it expects revenue as determined by
its historical revenue recognition policy for the recently ended
second quarter of 2007 to be approximately $19 million, a
significant increase from the revenue of $17.7 million in the first
quarter of 2007. Key to this revenue growth was an increase in the
company�s broadband wireless access product line sales. The revenue
expectations contained in this press release are based on
information currently available to the company and are subject to
change based on the completion of the company�s financial
statements and the related review of its quarter-end financial
results. The company expects to release its second quarter 2007
financial results in August 2007. Terabeam has implemented cost
savings initiatives that it anticipates will result in future
reductions in operating expenses and costs of goods sold. As part
of these initiatives, the company has also restructured its
engineering operations, shifting additional research and
development activities to its Hyderabad, India, facility. The
company expects these changes to significantly lower its GAAP and
cash flow break even points. �The combination of our recently
completed financing and our significant cost-savings measures
create a firm foundation upon which Terabeam can build profitable
growth,� said Robert Fitzgerald, Terabeam�s Chief Executive
Officer. �We are encouraged by the increase in revenue we saw from
our first to our second quarter, especially for our briskly selling
broadband wireless access products. With our cost-saving measures
in place, continuing our revenue growth trajectory is the key to
generating future profitability.� About Terabeam Terabeam, Inc. has
two primary subsidiaries Proxim Wireless Corporation and Ricochet
Networks, Inc. Proxim Wireless Corporation is a leader in
core-to-client solutions for broadband municipal wireless networks.
Ricochet Networks, Inc. is a leading portable Wireless Internet
Service Provider (WISP) with its primary operational market in
Denver, Colorado. Additional information about the company can be
found at the company�s website located at www.terabeam.com or by
contacting the company by telephone at 408-731-2610 or by email at
IR@terabeam.com. Safe Harbor Statement Statements in this press
release that are not statements of historical facts are
forward-looking statements that involve risks, uncertainties, and
assumptions. Terabeam�s actual results may differ materially from
the results anticipated in these forward-looking statements. The
forward-looking statements involve risks and uncertainties that
could contribute to such differences including those relating to
and arising from the completion of Terabeam�s financial statements
for the quarter ended June 30, 2007 and related review of those
financial statements; possible impacts of any changes in accounting
procedures followed by the company in preparing its financial
statements; difficulties in predicting Terabeam�s future financial
performance; the intense competition in our industries and
resulting impacts on our pricing, gross margins, and general
financial performance; difficulties or delays in developing and
supplying new products with the contemplated or desired features,
performance, compliances, certifications, cost, price, and other
characteristics, which difficulties may be exacerbated by our
recent cost savings initiatives; and the reactions, positive or
negative, of customers, investors, employees, competitors, and
others to the cost savings initiatives described in this press
release and their ramifications. Further information on these and
other factors that could affect Terabeam�s actual results is and
will be included in filings made by Terabeam from time to time with
the Securities and Exchange Commission and in its other public
statements.
Terabeam (NASDAQ:TRBM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Terabeam (NASDAQ:TRBM)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Terabeam (MM) (NASDAQ): 0 recent articles
More Terabeam, Inc. News Articles