Trend Micro Announces Revision of Forecasts of Consolidated Financial Results for the Fourth Quarter of Fiscal Year Ending Decem
February 15 2007 - 1:00AM
PR Newswire (US)
TOKYO, Feb. 15 /Xinhua-PRNewswire-FirstCall/ -- Trend Micro
(TSE:4704)(NASDAQ:TMIC), a leader in network antivirus and Internet
content security software and services, today announced that the
forecast of financial results for the fourth quarter of fiscal year
ending December 31, 2006, which were announced on October 31, 2006,
has been revised as set forth below: 1. Revision of forecast of
financial results for the fourth quarter of FY2006 (U.S. GAAP)
(October 1, 2006 to December 31, 2006) (in millions of yen) Net
Sales Operating Income Net Income Forecast previously 22,800 7,100
3,800 published (A Revision made (B 23,300 6,700 5,000 Difference
(B-A +500 -400 +1,200 Ratio of increase or decrease +2.2% -5.6%
+31.6% 2. Reason for Revision While our original forecast for the
fourth quarter bookings (Non-GAAP: amount of contracts concluded)
was 26 billion Yen, up 6% from the same quarter in the previous
year, due to stronger than expected revenue growth in North America
and EMEA region, we now forecast ending the quarter with bookings
of 29 billion Yen, up 18% from the same quarter in the previous
year. According to our revenue recognition policy, only a portion
of the additional bookings has been recognized as the sales, while
all the costs related to that increase have been expensed,
resulting in a negative impact on the quarterly operating profits.
As the result, though net sales are slightly ahead of our
expectations, operating income forecast is now lower by 5.6% from
the original forecast. On the other hand, net income forecast is
31.6% above original forecasts due to higher than expected interest
income and a tax rate which is lower than our earlier conservative
projection. In summary, as a result of this revision, compared to
the previous forecast of the fourth quarter, there is a increase of
2.2% in Net Sales and a decrease of 5.6% in operating income, and
increase of 31.6% in net Income, respectively. Notice Regarding
Forward-looking Statements Certain statements that we make in this
release are forward-looking statements. These forward-looking
statements are based upon management's current assumptions and
beliefs in light of the information currently available to it, but
involve known and unknown risks and uncertainties. Many important
factors could cause our actual results to differ materially from
those expressed in our forward-looking statements. These factors
include: -- Difficulties in addressing new virus and other computer
security problems -- Timing of new product introductions and lack
of market acceptance for our new products -- The level of
continuing demand for, and timing of sales of, our existing
products -- Rapid technological change within the antivirus
software industry -- Changes in customer needs for antivirus
software -- Existing products and new product introductions by our
competitors and the pricing of those products -- Declining prices
for products and services -- The effect of future acquisitions on
our financial condition and results of operations -- The effect of
adverse economic trends on our principal markets -- The effect of
foreign exchange fluctuations on our results of operations -- An
increase in the incidence of product returns -- The potential lack
of attractive investment targets and -- Difficulties in
successfully executing our investment strategy We assume no
obligation to update any forward-looking statements. For more
details regarding risk factors relating to our future performance,
please refer to our filings with the U.S. Securities and Exchange
Commission. About Trend Micro, Inc. Trend Micro, Inc. is a leader
in network antivirus and Internet content security software and
services. The Tokyo-based corporation has business units worldwide.
Trend Micro products are sold through corporate and value- added
resellers and managed service providers. For additional information
and evaluation copies of all Trend Micro products, visit our Web
site, http://www.trendmicro.com/ . Trend Micro, the t-ball logo,
OfficeScan, PC-cillin, and VirusWall are trademarks or registered
trademarks of Trend Micro Incorporated. TrendLabs is a service mark
of Trend Micro Incorporated. All other company or product names may
be trademarks or registered trademarks of their owners. For
Additional Information Mr. Mahendra Negi Chief Financial Officer /
IR Officer Phone: +81-3-5334-4899 Fax: +81-3-5334-4874 Email:
DATASOURCE: Trend Micro, Inc. CONTACT: Mr. Mahendra Negi of Trend
Micro, Inc., +81-3-5334-4899, or fax, +81-3-5334-4874, or Web site:
http://www.trendmicro.com/
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