Enterasys Will Be Listed On The New York Stock Exchange Under the Symbol ETS
NEWBURY, ENGLAND – Enterasys Networks, a leader in secure, available and mobile enterprise communications solutions, today announced its plans for the final stages of its evolution towards becoming an independent public company. On August 6, 2001, Enterasys Networks will be listed on the New York Stock Exchange (NYSE) under the ticker symbol ETS.
“I am very excited to announce that Enterasys has reached its ultimate goal of becoming an independent public company. To reach this goal in such a rapid time frame is a testament to the hard work, dedication and focus of every Enterasys employee worldwide. We have come a long way since our inception in March of 2000, and today’s announcement shows that our focus on meeting the needs of enterprise customers and delivering industry-leading products and solutions has truly unlocked the shareholder value in Enterasys Networks.”
With its focus on the enterprise market, one of the most stable and strongest growth areas in the networking sector, Enterasys has completed a number of significant achievements in its brief 15-month history.
§ Enterasys is focused on profitable growth. On a pro-forma basis, it has achieved a $125 million operating margin run-rate and approximately $1 billion revenue run-rate, growing from $175 million in Q1 2001 to $232 million in Q1 2002, a 32% growth rate.
§ Enterasys holds market leadership positions in growing, key product segments, including the #1 position in the modular Layer 3 market for 9 consecutive quarters (based on port shipments – source: Dell’Oro group) and an emerging leadership position in the growing wireless and security sectors.
§ Enterasys is a technology innovator in the enterprise market, holding more than 700 enterprise networking patents to date. Technology Review recently ranked Enterasys as one of the top technology innovators in the world, joining companies such as AT&T, Ericcson, Motorola, Nokia and Qualcom in the top ten. Enterasys has built upon its technology leadership position by announcing the industry’s first 10-Gigabit Ethernet strategy and shipping the industry’s first 54 Megabit-per-second (802.11a) wireless access platform for the enterprise.
§ Enterasys has a blue-chip customer base, with 34 of the global 50 and over half of the 250 largest U.S. enterprises as customers. In addition, Enterasys sold to over 600 new customers in its first year, with more than 20% of its revenues coming from new customers.
§ Enterasys’ transformation to a channel-based sales model and its “high-touch” approach to channel partners and customers have been instrumental in the company’s success. With hundreds of sales and technical experts worldwide, Enterasys is able to deliver the highest level of service and support in the industry.
About Enterasys Networks
Enterasys Networks is a new type of company that combines a single market focus with a strong technology heritage to provide communications infrastructures for enterprise-class customers. Enterasys’ networking hardware and software offerings deliver the innovative security, availability and mobility solutions required by Global 2000 organizations coupled with the industry’s strongest service and support. Based in Rochester, New Hampshire, Enterasys is backed by Silver Lake Partners and Cabletron Systems (NYSE: CS), and was named a “Company to Watch in 2001” by CIO Magazine. For more information, visit http://www.enterasys.com.
This release may contain projections or other forward-looking statements regarding the future financial performance of the Company or other future events and circumstances. Such forward-looking statements by their nature involve risks and uncertainties, and actual results or events could differ materially. Risks that could cause actual events or results to differ materially from those in described in the projections or forward-looking statements include business disruption and market perceptions associated with the Company's plan to transform its business into four independent operating subsidiaries, as well as risks associated with competitive conditions, pricing and margin pressures as a result of product shifts and changes in market dynamics, greater use of, and expenses associate with, distributors and resellers, limited management resources, the Company's acquisition strategy, volatility in the stock markets and market valuations being placed on communications infrastructure and service companies, technological changes, intellectual property protection and related issues, dependence on suppliers and contract manufacturers, and potential volatility in operating results, among others. For a more detailed discussion of these and other risks and uncertainties related to the company's business, please refer to the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent annual report on Form 10-K, and the Company's other recent reports on Form10-Q and Form 8-K.
Tel: +44 1635 810723
Martin Brindley/Adrian Brophy
MCC International Ltd
Tel: +44 1962 888100
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