AML Communications Inc. announces preliminary revenue and earnings outlook for fiscal 1997 fourth quarter and full year.CAMARILLO, Calif.--(BUSINESS WIRE)--March 25, 1997-- AML AML - A Manufacturing Language Communications Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMLJ) Tuesday announced that based on preliminary unaudited results of operations, it expects to report a 100 percent increase in revenues to approximately $14 million for the fiscal year ending March 31, 1997, compared with $6.98 million for the prior year. For the fourth quarter ending March 31, 1997, the company anticipates reporting revenues of approximately $2.5 million compared with $2.6 million for the same three-month period last year. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. First Call, current analyst earnings estimates for the company reflect median earnings per share of 12 cents and 44 cents for the fourth quarter and fiscal year respectively. Management believes that the company will fall substantially short of meeting these estimates. Management noted that the 102 percent year-to-year increase in revenues is due primarily to increased sales of cellular and wireless telephony telephony without wires, usually employing electric waves of high frequency emitted from an oscillator or generator, as in wireless telegraphy. A telephone transmitter causes fluctuations in these waves, it being the fluctuations only which affect the receiver. See also: Wireless multicarrier amplifiers. While the company realized a substantial increase in revenue on an annual basis and measurable increases on a quarterly basis through the third quarter, sales of cellular products throughout the year have been indicating a declining trend. Management attributes the sharp decline in revenue for the fourth quarter to several factors. Foremost is a result of major cellular infrastructure suppliers producing a more cost effective macrocell base station as well as improved multicarrier amplifier-based microcells, both of which now compete directly with the company's multicarrier amplifier product line. Specifically, as the result of these improved macrocell-based stations, the cellular industry's slow transition from macrocells to microcells has impeded the company's ability to sustain its revenue growth rate throughout fiscal 1997. A secondary factor affecting the company's revenue is the operator's reduced mindshare and budgets for the cellular infrastructure in light of the preparation for the mass PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. deployment. Commenting on this important announcement, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jacob Inbar said: "While we are not pleased with the preliminary results of the quarter, we are encouraged by our future. We continue to create unique solutions where our technological strengths, product diversification and customer relationships can be capitalized on. "Anticipating changes in the cellular sector while PCS rolls out, we had made early decisions to diversify into markets such as paging and satellite communications. Consequently, during the fourth quarter, we have delivered our first two-way paging 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. amplifier and expect to deliver our first high-linearity amplifiers for a low-earth orbit satellite communication system." Inbar continued discussing the company's plans: "Looking forward, we expect the demand for PCS equipment to increase over the next several quarters. We see many near-term and future opportunities in this new emerging market and expect to capitalize on our solution-oriented approach in selling directly to system operators as well as accelerating our marketing efforts to original equipment manufacturers." AML Communications will host a nationwide conference call at 1 p.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT (10 a.m. PST PST Paroxysmal supraventricular tachycardia, see there ) on Tuesday, March 25, to discuss these developments. Those interested in participating in this teleconference may dial 212/346-0190 or 415/904-7358. Provide the operator with call reservation No. 2611361. AML Communications designs, manufactures and markets multicarrier amplifiers, masthead amplifiers and repeaters for the cellular, PCS, paging and other communications markets. Statements made in this news release that relate to future plans, financial results or projections, events or performance are forward-looking statements and fall within the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The company's actual results and financial position could differ materially from those anticipated in the forward-looking statements as a result of a number of factors, including but not limited to, economic conditions, changing trends within the industry, impact of OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and competition, the successful execution of the company's product expansion plans and other risks and uncertainties described in detail under the "Risk Factors" section and elsewhere in the company's prospectus dated Dec. 12, 1995, as well as in the company's other filings with the Securities and Exchange Commission. CONTACT: AML Communications Inc., Camarillo Kirk A. Waldron, 805/388-1345 or Coffin Communications Group, Sherman Oaks, Calif. Steven B. Johnson, 818/789-0100 |
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