Endwave Announces Preliminary Fourth Quarter 2006 Results
January 04 2007 - 6:00PM
PR Newswire (US)
SAN JOSE, Calif., Jan. 4 /PRNewswire-FirstCall/ -- Endwave
Corporation (NASDAQ:ENWV) today announced that it expects to report
fourth quarter 2006 revenues of approximately $13.3 million, which
is above the revenue outlook of $10 million to $12 million provided
by the company on December 11, 2006. Revenues for 2006 are expected
to be approximately $62 million, an increase of more than 25% from
$48.7 million in 2005. In addition, Endwave Corporation's cash and
cash equivalent balance increased by approximately $900,000 during
the fourth quarter of 2006. "As described in our update on December
11, we experienced a slowdown in revenues during the fourth quarter
due to the impending merger of the network businesses of Nokia and
Siemens and resulting inventory reductions by the companies.
However, given the unexpected delay of the closing of the merger,
we had increased demand later in December resulting in higher
revenues," said Ed Keible, Endwave's CEO and President. "We are
pleased to report that despite a challenging fourth quarter, we
experienced substantial revenue growth during 2006, making progress
in both our telecom and non-telecom businesses." Endwave
Corporation cautions that its anticipated results are preliminary
based on the best information currently available and subject to
completion of preparation of the financial statements and the audit
of its year-end financial results. Quarterly Conference Call
Scheduled for February 7, 2007 Endwave Corporation will report
financial results for the fourth quarter and year ended December
31, 2006, on Wednesday, February 7, 2007 at 1:30 p.m. Pacific
Standard Time. Investors are invited to participate in the
conference call by dialing 913-981-5543 (Pass code: Endwave) by
1:20 p.m. PT on Feb. 7. Starting approximately one hour after the
completion of the live call, a replay will also be available until
Feb. 10. To access the recording, dial (719) 457-0820 (Pass code:
8145448) Investors are also invited to listen to a live and/or
archived webcast of Endwave's quarterly conference call on the
investor relations section of the company's Web site. The webcast
replay will be available for 90 days. About Endwave Endwave
Corporation designs, manufactures and markets RF modules that
enable the transmission, reception and processing of high-frequency
signals in telecommunications networks, defense electronics and
homeland security systems. Our RF modules are typically used in
high-frequency applications and include integrated transceivers,
amplifiers, synthesizers, oscillators, up and down converters,
frequency multipliers and microwave switch arrays. Endwave has 42
issued patents covering its core technologies including
semiconductor and proprietary circuit designs. Endwave Corporation
is headquartered in San Jose, CA, with operations in Diamond
Springs, CA; Andover, MA; and Chiang Mai, Thailand. Additional
information about the company can be accessed from the company's
web site at http://www.endwave.com/ . "Safe Harbor" Statement under
the Private Securities Litigation Reform Act of 1995: This press
release may contain forward-looking statements within the meaning
of the Federal securities laws and is subject to the safe harbor
created thereby. Any statements contained in this press release
that are not statements of historical fact may be deemed to be
forward-looking statements. Words such as "plans," "intends,"
"expects," "believes" and similar expressions are intended to
identify these forward-looking statements. Information contained in
forward-looking statements is based on current expectations and is
subject to change. Actual results could differ materially from the
forward-looking statements due to many factors, including the
following: our ability to achieve revenue growth and maintain
profitability; our customer and market concentration; our
suppliers' abilities to deliver raw materials to our specifications
and on time; our successful implementation of next-generation
programs, including inventory transitions; our ability to penetrate
new markets; fluctuations in our operating results from quarter to
quarter; our reliance on third-party manufacturers and
semiconductor foundries; acquiring businesses and integrating them
with our own; component, design or manufacturing defects in our
products; our dependence on key personnel; and fluctuations in the
price of our common stock. Forward-looking statements contained in
this press release should be considered in light of these factors
and those factors discussed from time to time in Endwave's public
reports filed with the Securities and Exchange Commission, such as
those discussed under "Risk Factors" in Endwave's most recent
Annual Report on Form 10-K, and subsequently-filed reports on Form
10-Q. Endwave does not undertake any obligation to update such
forward-looking statements. Contact: Mary McGowan Summit IR Group
Inc. Phone: 408-404-5401 DATASOURCE: Endwave Corporation CONTACT:
Mary McGowan of Summit IR Group Inc., +1-408-404-5401, or Web site:
http://www.endwave.com/
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