ANTEC TO WORK WITH TELECOMMUNICATIONS INC. (TCI) ON PILOT MATERIAL MANAGEMENT PROGRAM AND ANTICIPATES REDUCED FOURTH QUARTER SALES VOLUME WITH TCI.ROLLING MEADOWS, Ill.--(BUSINESS WIRE)--DECEMBER 16, 1994--ANTEC Corporation announced today that it anticipates fourth quarter sales to TCI (Trustworthy Computing Initiative) An umbrella term from Microsoft for its efforts to improve security in Windows. TCI was announced in 2002 after viruses such as Code Red and Nimda had succeeded in attacking numerous Windows computers. will be approximately $15 to $17 million less than the third quarter sales level. Analysts had indicated that TCI sales would be equal to or greater than the third quarter. Although ANTEC's 1994 TCI sales will increase approximately 5 percent over 1993, in 1994 for the first time in recent years, almost 70 percent of those sales will have occurred in the first half of the year. Sales to TCI by quarter have been $57, $47 and $33 million. "We are working closely with TCI management in a pilot material management program to help TCI more closely link its purchases with its product deployment patterns," said John Egan, ANTEC President 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. . "This should level TCI's quarter-to-quarter capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. patterns. Our non-TCI business has continued to grow throughout the year at a robust pace, anticipated at approximately 40 percent year to year. However, the front end loading Front-End Loading (FEL) is the process for conceptual development of processing industry projects. Example of processing industry are petrochemical, refining, pharmaceutical. Front-End Loading is also referred to as Pre-Project Planning (PPP) or Front-End Engineering Design (FEED). for TCI's sales this year has distorted our quarter-to-quarter performance, causing the first and second quarters to outpace the third and fourth. We anticipate that the new TCI program will eliminate the acceleration of any 1995 sales into the fourth quarter of 1994 and will spread all TCI purchases more equally over the 1995 year. We believe this will enable TCI to more effectively manage their capital expenditure and construction programs. The program should also reduce the swings in our quarter-to-quarter performance that the TCI business has caused in 1994." The lower level of TCI sales anticipated for the fourth quarter will negatively impact fourth quarter earnings. Overall, 1994 ANTEC sales and earnings are anticipated to materially exceed 1993 and to exceed budget expectations and analyst expectations that existed at the beginning of 1994. The company expects 1995 to be another record year. ANTEC Corporation (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 : ANTC ANTC Advanced Networking Test Center ANTC Alliance for a New Transportation Charter ANTC Adjusted Net Tax Capacity ANTC Antennapedia Complex ANTC Advanced National Technical Certificate (Nigeria) ANTC Anticipated Net Tax Capacity ), located in Rolling Meadows, Illinois Rolling Meadows is a city in Cook County, Illinois, United States. The population was 24,604 at the 2000 census. Geography Rolling Meadows is located at (42.076209, -88.025911)GR1. , is an international technology integration and development company that specializes in the design, engineering, manufacturing, materials management and supply of products for fiber and coaxial broadband networks for the Cable TV and Telecommunications industries. CONTACT: ANTEC Corp. Jim Bauer, 708/439-4444 |
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