AST Research anticipates lower Q1 performance.IRVINE, Calif.--(BUSINESS WIRE)--March 21, 1996--AST Research 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 :ASTA) Thursday said that it expects revenue in the first quarter of fiscal year 1996 to be lower than anticipated. "We have encountered excess competitor inventory in the channel, overall lower demand for PCs and greater pricing pressures than originally anticipated through the first two months of the current quarter", said Ian Diery, president and chief executive officer. "As has been reported in our industry, this slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in demand is having its greatest impact in the Americas marketplace. In addition, with the company's upcoming product transitions within our Bravo BRAVO Cardiology A clinical trial–Blockade of the GP IIB/IIIA Receptor to Avoid Vascular Occlusion– which evaluated lotrafiban in preventing strokes and acute MI. See GP IIB/IIIA. business computer product line and new Ascentia mobile systems, the slowdown has caused AST (AST Computer, Irvine, CA) A PC manufacturer founded in 1980 by Albert Wong, Safi Quershey and Tom Yuen (A, S and T). It offered a complete line of PCs that sold through its dealer channel. to take aggressive pricing actions to make way for these new product rollouts which are planned for early in the second quarter. "We therefore anticipate that revenues will be below those achieved during the previous quarter, ended December 30, 1995, and expect that our loss for the quarter will be greater than the current range of analyst estimates." Statements contained in this press release which are not historical information are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as defined within 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. Such forward-looking statements are subject to risks and uncertainties which could cause results to differ materially from those projected. Such potential risks and uncertainties include, but are not limited to: continued competitive pricing pressures in the computer industry; the company's ability to continue to develop, produce and market products that incorporate new technology on a timely basis, that are competitively priced and achieve significant market acceptance; the effect of any continued losses on the company's supplier and customer relationships; and its need for liquidity. Additional factors which could affect the company's financial results are included in the company's report on Form 10-Q Form 10-Q See 10-Q. for the first quarter of transition period 1995, which is filed with the Securities and Exchange Commission. Corporate Background AST Research AST Research, Inc. was a personal computer manufacturer, founded in Irvine, California in 1980 by Albert Wong, Safi Qureshey and Thomas Yuen. (The name comes from the initials of their first names. Inc., a member of the Fortune 500 list of America's largest industrial and service companies, is one of the world's leading personal computer manufacturers. The over two billion dollar company develops a broad spectrum of desktop, mobile and server PC products that are sold in more than 100 countries worldwide. AST systems meet a wide range of customer needs, ranging from corporate business applications to advanced home and home office use. Corporate headquarters is located at 16215 Alton Parkway, P.O. Box 57005, Irvine, Calif. 92619-7005. Telephone 714/727-4141 or 800/ 876-4278. Fax: 714/727-9355. Information about AST and its products can be found on the World Wide Web at http://www.ast.com. CONTACT: AST Research Inc. Emory Epperson (media), 714/727-7958 or Misty mist·y adj. mist·i·er, mist·i·est 1. Consisting of or marked by mist: a misty rain; a misty night. 2. Ohmart (analysts), 714/727-7728 |
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