PERLE SYSTEMS PROVIDES INSIGHT INTO STRONGER FOURTH QUARTER RESULTS AND OUTLINES GUIDANCE FOR FISCAL 2002
Strategic Initiatives Expected to Result in Cash EPS of
US$0.18 to US$0.20 in Fiscal 2002
Perle Systems Limited (NASDAQ: PERL; TSE: PL), a leading provider of networking products for IP and e-business access, today announced expectations for the fourth quarter and fiscal year ended May 31, 2001 and outlined financial guidance for fiscal 2002.
For the fourth quarter completed May 31, the company anticipates reporting revenue of approximately US$10 million to US$10.3 million, an improvement over the third quarter by more than 19%. For the fiscal year, the company expects revenue in the range of US$36.4 million to US$36.7 million. The company also anticipates that its cash earnings per share (excluding non-cash acquisition-related amortization and any non-cash one-time costs) in the fourth quarter will be in the range of US$0.03 to US$0.05 and in the range of US$0.10 to US$0.12 for the fiscal year.
The company provided guidance and insight into its anticipated cash earnings for fiscal 2002, which began June 1, 2001. Perle expects to achieve cash earnings per share in the range of US$0.18 to US$0.20, based on increased sales over fiscal 2001.
President and Chief Executive Officer, Joe Perle, stated, “I am extremely pleased with the progress we have made in the fourth quarter. Over the past year, we have made investments in R&D, product marketing and sales channel development with the goal of building upon our revenue stream and increasing profitability. These preliminary results are encouraging and we look forward to a successful fiscal 2002.”
“This fiscal year, we will continue to leverage our increasingly strong position in the open systems market to provide high functioning Internet Protocol based connectivity products to our user base,” continued Perle. “Our sales are targeted primarily at the enterprise market and we continue to see strong demand for our products, which are essential components of our users’ networks. As part of our strategy, we are focusing on three growth initiatives. These are: building sales of the router product line acquired from TriNexus earlier this month, generating sales from the recently introduced CS9000 Console Server product line and continuing execution of the ‘Plug The Gap’ campaign to grow Perle 833 Remote Access Server sales. These sales and technology initiatives, together with increased productivity are aimed at meeting our profitability goals for fiscal year 2002.”
Perle plans to announce complete fourth quarter and year end results in early August. As usual, the company will hold a conference call for investors on the day of the announcement.
About Perle Systems
Perle Systems is a leading developer, manufacturer and vendor of award-winning networking products. These products are used to connect remote users reliably and securely to central servers for a wide variety of e-business and general business applications. Perle specialises in Internet Protocol (IP) connectivity applications, with an increasing focus on mid-size IP routing solutions. Product lines include routers, remote access servers, serial servers, and multi-port serial cards, console servers and network controllers. Perle distinguishes itself by its ownership of extensive networking technology, depth of experience in major network connectivity environments and channel relationships in major world markets. Perle Systems has offices in 11 countries and sells its products through distribution channels worldwide. Its stock is traded on the Nasdaq Stock Market (symbol PERL) and the Toronto Stock Exchange (symbol PL). For more information about Perle and its products, access !
the Company's Web site at http://www.perle.com.
Forward-looking statements in this release, including statements relating to the Company’s future growth prospects, future profits, anticipated revenue and earnings results from the Company’s fourth quarter and fiscal 2001 year end and revenue and earnings guidance for fiscal 2002 are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the company’s ability to increase its sales while maintaining control over its costs, the Company’s ability to manage growth, continued acceptance of the Company’s products, increased levels of competition for the Company, new products and technological changes, the Company’s dependence upon third party suppliers intellectual property rights and other risks detailed from time to time in the Company’s periodic reports filed with the United !
States Securities and Exchange Commission.
Further information on Perle – including interviews, reviews and photography available from Graham Thatcher or Juliette Doel at MCC International.
Graham Thatcher/Juliette Doel
MCC International Ltd
Tel: 01962 888100
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