AML Communications Announces Headcount Reduction and Cost Control Actions.CAMARILLO, Calif.--(BUSINESS WIRE)--March 16, 1999--AML Communications Inc. (Nasdaq:AMLJ) Tuesday announced a reduction in force affecting approximately 25 employees of its staff of 92 employees. The company expects to report a charge for severance and related outplacement out·place·ment n. The process of facilitating a terminated employee's search for a new job by provision of professional services, such as counseling, paid for by the former employer. costs during this quarter. Additionally, the company initiated other cost control actions that, when aggregated with the reduction in force, are expected to result in an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. savings of approximately $1.5 million. The downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing follows a recently announced strategic shift in senior management with the appointment of Kirk A. Waldron as president and chief executive officer. Waldron said: "The reduced headcount better supports our revenue flow and in conjunction with the cost control actions taken, improves our cost structure and allows us to better manage overhead without impeding critical development efforts or customer support. With our strong cash position and reduced costs, the company is afforded more of an opportunity to continue to pursue a newly implemented aggressive sales and marketing strategy." AML AML - A Manufacturing Language Communications Inc. designs, manufactures and markets multicarrier amplifiers and masthead mast·head n. 1. Nautical The top of a mast. 2. The listing in a newspaper or periodical of information about its staff, operation, and circulation. 3. amplifiers for the cellular, wireless local loop, personal communication services (communications) Personal Communication Services - (PCS) Telecommunications services that bundle voice communications, numeric and text messaging, voice-mail and various other features into one device, service contract and bill. PCS are carried over cellular links, most often digital. , paging and satellite communication markets. The information contained in this news release contains certain forward-looking statements that involve risks and uncertainties, such as the statements of the company's plans, objectives, expectations and intentions. The company's actual results could differ materially from those indicated by such statements as a result of various factors; economic conditions; reductions or cancellations in orders from new or existing customers; limited number of potential customers; variability in gross margins on new products; success in the design of new products (including, specifically without limitation, WLL See wireless local loop and PHS-WLL. products) or the redesign of existing products; timing and success of WLL deployment, and the ability to manufacture in quantity such new or redesigned products; failure to acquire new customers; continued or new deterioration of business and economic conditions in the company's customers' marketplaces; intensely competitive industry conditions with increasing price competition; business conditions; and growth in the wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. market, as well as those factors discussed in the company's Form 10-KSB and Form 10-QSB on file with the SEC. |
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