SUNNYVALE, Calif., April 6, 2015 /PRNewswire/ -- Meru
Networks, Inc. (NASDAQ: MERU), a leader in intelligent
networking and the only wireless LAN vendor to have received
OpenFlow™ conformance, today announced a restructuring of its sales
organization with geographic sales vice presidents reporting
directly to the CEO, eliminating a layer of sales management and
streamlining its sales operations. These actions are a
continuation of the previously commenced restructuring announced in
January.
Effective immediately, Tom
Palomaki, Vice President of Sales North America, and
David Kelly, Vice President of Sales
International, will report directly to Dr. Bami Bastani, President and CEO of Meru
Networks. Larry Vaughan, Senior Vice
President Worldwide Sales & Field Operations, is departing the
company.
"I want to thank Larry for his years of service to Meru and wish
him the best of luck in his future endeavors," said Dr.
Bastani. "A major goal of the previously commenced
restructuring program was to create a flatter organization that
would be both more efficient and more responsive to customer
needs. We have realized significant cost reductions in all
departments and believe we have lowered our quarterly breakeven
sales level to approximately $21- $22
million."
"We expect to announce results consistent with our first quarter
2015 guidance for revenues and non-GAAP earnings per share issued
on February 09, 2015. We expect to
achieve first quarter results slightly better than current analyst
consensus for both quarterly revenues and non-GAAP earnings per
share," he continued. "In addition, we are pleased with the
beginning pipeline entering the second quarter of 2015."
Meru will provide further details on the first quarter results
and second quarter forecast at the regular earnings call currently
scheduled for the first week of May. Details on the date and time
of the earnings call will be announced accordingly.
About Meru Networks
Meru Networks (MERU) is a leader in intelligent 802.11ac Wi-Fi
solutions delivering uninterrupted user experience for education,
healthcare, hospitality and enterprise. The Meru
open-standards-based architecture is designed to enable unified
management of wired and wireless networks. Its end-to-end
application QoS enables enforceable service-level agreements. Meru
provides top performance and high capacity in high-density
environments. Visit www.merunetworks.com or call (408) 215-5300 for
more information.
©2015 Meru Networks. Meru is a registered trademark and the
Meru logo is a trademark of Meru Networks, Inc. in the United States. All other trademarks
mentioned in this document are the property of their respective
owners.
Cautionary Statement Regarding Forward Looking
Statements
All statements other than statements of historical facts are
statements that can be deemed forward-looking statements, including
any statements of expectations or beliefs such as our expectation
regarding the revenues and non-GAAP earnings per share we will
announce for the first quarter of 2015, our outlook for the second
quarter of 2015, our belief that we have lowered our quarterly
breakeven sales level to approximately $21-
$22 million and our belief that our sales organization will
be more efficient and more responsive to customer needs following
the recent reorganization. These forward-looking statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those in the forward looking
statements. Risks and uncertainties that could cause our results to
differ materially from those expressed or implied by such
forward-looking statements include, among others: business and
economic conditions and growth trends in the networking industry,
final determination of the timing of revenue and expense
recognition, our vertical markets and various geographic regions;
competition in the industry; our future capital needs may change;
changes in overall information technology spending; failure to
develop new products; and those risks and uncertainties described
in documents filed with or furnished to the Securities and
Exchange Commission ("SEC") by Meru, including under the caption
"Risk Factors" in Meru's Annual Report on Form 10-K filed with
the SEC on February 27, 2015, and any subsequent
reports filed with the SEC. All forward-looking statements in
this press release are based on information available to Meru as of
the date hereof, and Meru assumes no obligation to update these
forward-looking statements, except as required by law.
Investor Contact:
Edward Keaney
Market Street Partners
415-445-3238
ekeaney@marketstreetpartners.com
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SOURCE Meru Networks, Inc.