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Redback Networks Expects Lower Third Quarter 2001 Results SAN JOSE, Calif.--(BUSINESS WIRE)--Sept. 25, 2001--Redback Networks Inc. (Nasdaq:RBAK - news) today announced that it expects revenue in the current fiscal quarter ending September 30, 2001 will be approximately $35 to $40 million. These projections are preliminary and subject to change as final orders are processed through the end of the quarter. ``With the uncertainty surrounding the events of September 11, the Company saw several of its September sales orders and revenue shipments rescheduled or cancelled. The economic effects of these events are aggravating an already weak telecommunications equipment market, causing the timing of a recovery to be difficult to predict,`` said Kevin DeNuccio, president and chief executive officer at Redback. ``As a result, the Company will be taking near term actions to significantly reduce its cost structure. These proposed actions will likely result in charges for excess inventory and commitments, goodwill and other asset impairment, and restructuring.`` Redback`s fiscal third quarter 2001 earnings conference is scheduled for October 10th at 2:00 p.m. (PT). The Company will review the quarter, as well as it outlook for the remainder of the year, at that time. Information on these calls can also be found on Redback Network`s website at www.redback.com under Investor Center. About Redback Networks Inc. Redback Networks enables carriers and service providers to build profitable next generation metro broadband and optical networks. The Company offers a strong product portfolio that includes industry-leading subscriber management and optical platforms, as well as a comprehensive set of network provisioning and management software. These solutions deliver superior performance and scalability, reduce operational costs, and expedite the management and deployment of new services within metro networks. Founded in 1996 and headquartered in San Jose, Calif., with sales and technical support centers located worldwide, Redback Networks maintains a growing and global customer base of more than 350 carriers and service providers, including major local exchange carriers (LEC), inter-exchange carriers (IXCs) and service providers. For more information, please visit http://www.redback.com Note to Editors: Redback is a U.S. Registered Trademark; Subscriber Management System and SmartEdge are Trademarks of Redback Networks Inc. Other trademarks, service marks, and trade names belong to their respective owners. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding Redback Networks` expectations, beliefs, intentions or strategies regarding the future. Forward-looking statements include statements regarding future sales, product deployment and network configurations. All forward-looking statements included in this document are based upon information available to Redback Networks as of the date hereof, and Redback Networks assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to Redback Networks` business are set forth in the documents filed by Redback Networks with the Securities and Exchange Commission, specifically the most recent report on Form 10-Q, and the other reports filed from time to time with the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: Redback Networks Anne Smith, 408/571-5044 (Media) asmith@redback.com Dennis P. Wolf, 408/571- 5155 (Financial) dwolf@redback.com |
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| aus der Diskussion: | Redback Networks mit deutlicher Umsatzsteigerung |
| Autor (Datum des Eintrages): | panik (25.09.01 22:26:27) |
| Beitrag: | 40 von 40 (ID:4500484) |
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