(Source: Business Wire)
Interphase Corporation (NASDAQ: INPH), a leading global provider of
building blocks, subsystems, and gateway appliance solutions for
converged communications networks, today announced that it expects to
report revenues of approximately $4.3 million to $4.4 million and a net
loss of approximately $2.1 million to $2.5 million for the third quarter
2009. Based on these expectations, the Company expects to report
revenues of approximately $20.9 million to $21.0 million and a net loss
of approximately $1.3 million to $1.7 million for the nine months ended
September 30, 2009. These results are based on preliminary information
and remain subject to the completion of the Company's accounting close
process and review by the Audit Committee of the Board of Directors. The
Company is scheduled to announce its third quarter 2009 financial
results on Thursday, October 22, 2009, after market close.
"We are extremely disappointed with the significant revenue shortfall
for the quarter," said Gregory B. Kalush, CEO and President of
Interphase. "The slowdown in telecommunications spending at our top
customer accounts resulted in a more significant reduction in revenue
than we expected. We are hopeful that this fall off in demand is only a
temporary phenomenon. It is very difficult to determine when we will
return to our trajectory of revenue growth and profitability because of
continuing uncertainty in today's telecommunications market. We remain
optimistic, however, about the longer term growth prospects of
Interphase as we anticipate the recovery of the traditional rate of
consumption for our products, and begin to see the benefit of new design
wins and our pursuit of adjacent markets for additional growth
opportunities."
The Company has not historically issued preliminary financial results.
However, in light of the disparity between the Company's third quarter
2009 financial results and its first and second quarter 2009 financial
results, the Company believes that providing preliminary financial
results at this time is in the best interest of its shareholders. The
Company does not intend to make this a practice and will generally not
provide preliminary results in future periods.
A conference call is scheduled for Thursday, October 22, 2009 at 4:30
p.m. CT to discuss the results. You may listen to the call on a live
webcast available on the Company's Web site (www.iphase.com),
or you may participate in the call by dialing 1-866-630-4674 to request
the dial-in information for the conference call.
About Interphase Corporation
Interphase Corporation (NASDAQ: INPH) delivers solutions for network
connectivity, interworking, and packet processing for key applications
for the communications, Mil/Aero, and enterprise markets. Founded in
1974, Interphase provides expert customization services and contract
manufacturing in addition to its COTS portfolio, and plays a leadership
role in next generation AdvancedTCA® (ATCA), AdvancedMC
(AMC), PCI-X, and PCI-e standards and solutions. Headquartered in Plano,
Texas, Interphase has sales offices across the globe. Clients include
Alcatel-Lucent, Emerson Network Power, Fujitsu Ltd., Hewlett Packard,
Nokia-Siemens Networks, Samsung, and Sun Microsystems. Visit www.iphase.com.
Safe Harbor
This press release contains forward-looking statements with respect to
financial results and certain other matters. These statements are made
under the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995 and involve a number of risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. Such risks and uncertainties include,
without limitation, fluctuations in demand, the quality and price of
similar or comparable networking products, access to sources of capital,
general economic conditions in the company's market areas, and that
future sales and growth rates for the industry and the company could be
lower than anticipated.
Interphase, the Interphase logo, SlotOptimizer and iNAV are
trademarks or registered trademarks of Interphase Corporation. All other
trademarks are the property of their respective owners.
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