Somera Communications Announces Preliminary Second Quarter Financial Results
2005年7月8日 - 6:01AM
PRニュース・ワイアー (英語)
Somera Communications Announces Preliminary Second Quarter
Financial Results DALLAS, July 7 /PRNewswire-FirstCall/ -- Somera
Communications (NASDAQ:SMRA), a global provider of
telecommunications asset management and recovery services, today
announced preliminary financial results for the quarter ended June
30, 2005. Somera expects to report total revenues in the range of
$18.0 million to $19.0 million. Somera expects to report a net loss
per share for the second quarter in the range of $(0.15) and
$(0.17). The Company's net loss per share will be negatively
impacted by $2.8 million to $3.3 million in charges related to a
write-down of goodwill from an acquisition that closed in 2000, the
recognition of outstanding sales taxes from 2002 and 2003, and
expenses associated with an acquisition the Company has decided
against pursuing. Excluding these charges, net loss per share is
expected to range between $(0.09) and $(0.11). Consistent with the
Company's expectations for the quarter, gross margin is expected to
be in the low- to mid-30% range. David Heard, CEO of Somera,
commented on the preliminary results, "During the first half of
2005, we made the decision to restructure our sales and supply
organizations -- including significant additions to our management
team -- in order to more effectively capitalize on growth
opportunities in both the traditional equipment brokerage business
and our new asset management business. Unfortunately, these
reorganization efforts left us temporarily unable to capitalize on
a number of short-term transactional brokerage opportunities due to
supply shortages and incomplete market coverage in our sales force.
However, we believe putting the right teams in place and building a
stronger inventory position should lead to improved performance in
the brokerage business going forward. We expect to provide
additional guidance when we report our second quarter financial
results. "We believe the development and adoption of our Lifecycle
Management Services business remains on track, with revenues
increasing, the pipeline building, and key prospects moving to more
advanced stages of the sales cycle. We now have three significant
U.S. carriers entering the initial phases of our RecoveryPLUS
program. As these programs ramp in scale, and we close deals with
new carriers, we expect to see increasing revenues from the
services business throughout the remainder of 2005. "While we
expect to make progress in positioning the Company for improved
performance, we now believe the temporary effects of our
reorganization efforts will defer our return to profitability until
2006," said Mr. Heard. Somera expects to report its second quarter
financial results after the market closes on August 4, 2005. A
conference call will be held on the same day at 5:00 p.m. Eastern
time / 2:00 p.m. Pacific time. Non-GAAP Financial Measures This
press release contains pro forma net loss per share results that
are not in accordance with GAAP because they exclude identified
non-cash charges. The estimated amount of the expected excluded
charges is stated in this release so that pro forma net loss per
share results can be reconciled to GAAP results. The pro forma net
loss per share results should not be considered as a substitute
for, or superior to, measures of financial performance prepared in
accordance with GAAP, and may be different from non-GAAP financial
measures used by other companies. Somera management uses this pro
forma measure in evaluating the potential impact of certain
operating decisions on projected financial results, in comparing
the Company's historical operating results and in comparing to
competitors' operating results. Somera includes this pro forma
measure in this press release because it believes this measure
enhances comparability of Somera's results of operations to those
of competitors', to operating results Somera historically has
reported and to financial models and expectations of securities
analysts. About Somera Somera launched its family of Lifecycle
Management Services in 2004 in response to an industry-wide need
for telecom asset management to optimize return on assets. Somera's
product offerings enable service providers to generate greater
value from legacy assets in the form of lower operating costs,
longer product life, higher productivity, and real measurable
capital savings. With Somera LifecyclePLUS, customers can outsource
elements of network operations, logistics, and technical service.
Somera RecoveryPLUS(TM) is a program approach to deliver documented
savings and expense relief by recovering hidden value in current
underutilized assets and inventories. Somera RepairPLUS provides
comprehensive support for wireless, wireline, and data products at
significant savings and reduced cycle times. These services are in
addition to Somera's traditional Brokerage business that provides
immediate availability of quality, warranted new and refurbished
equipment at savings of 25 to 60%. Founded in 1995, Somera has
developed an impressive base of over 1,100 customers worldwide,
including the industry leaders from each segment of the
telecommunications market. Visit Somera on the web at
http://www.somera.com/. This news release contains forward-looking
statements as that term is defined in Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, including statements about Somera's
expected financial results for the second quarter of 2005, its
expected return to profitability on a GAAP basis in 2006, the
future performance of its equipment brokerage business and
lifecycle management services businesses, Somera's ability to
capitalize on business opportunities in light of its reorganization
efforts, and Somera's ability to gain new customers, expand its
programs with existing customers in future periods and make
progress in positioning itself for improved performance. Actual
results for the second quarter of 2005 may differ materially from
those estimated or projected in this release due to factors that
include risks associated with final review of the financial results
and preparation of quarterly financial statements, which may
include unexpected accounting adjustments. Actual results in future
periods are subject to risks and uncertainties that could cause
actual results to differ materially from those projected in the
forward-looking statements contained in this release, including,
but not limited to, general economic conditions particularly
affecting the telecommunications industry; capital equipment
spending levels in the telecommunications industry, including the
risk of continued customer spending delays associated with carrier
consolidation; the impact of competition in the market for
supplying equipment and equipment lifecycle management services to
telecommunications operators; the risk of potential shortage of
product supply; and Somera's ability to build its lifecycle
management services capabilities; and other factors fully described
in the company's reports to the Securities and Exchange Commission
(SEC), including but not limited to, the Annual Report on Form 10-K
for the fiscal year ended December, 31, 2004, and Quarterly Reports
on Form 10-Q. The company does not undertake to update any
forward-looking statements that may be made by or on behalf of the
company. Copies of Somera's SEC filings may be obtained by
contacting Financial Relations Board at 617-520-7064 or by visiting
the Investor section of Somera's web site at
http://www.somera.com/. DATASOURCE: Somera Communications CONTACT:
Investor Relations, Somera Communications, +1-805-681-3322 Web
site: http://www.somera.com/
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