AVT Corporation Expects to Report Strong First Quarter Results.KIRKLAND, Wash.--(BUSINESS WIRE)--April 7, 1999--Responding to the recent drop in the company's share price, AVT AVT avian arginine vasotocin. See vasotocin. Corporation (Nasdaq:AVTC AVTC Antivirus Test Center (informatics, University of Hamburg) AVTC Automatic Vehicular Traffic Control ) today reported that it expects to report strong financial results for the quarter ended March 31, 1999, exceeding the consensus estimates established by the securities analysts covering the company. The company anticipates reporting earnings of between $0.21 and $0.23 per diluted share, an increase of 37.5% over the $0.16 per diluted share earned in the comparable prior-year quarter. The consensus estimates currently published by the securities analysts covering the company average $0.20 per diluted share. The company is scheduled to release its financial results for the quarter on April 22, 1999. "We have been forced to take the highly unusual step of commenting on our earnings before officially releasing this information, solely because of the continued downward valuation of our share price," stated Richard J. LaPorte, chairman and chief executive officer. "We see absolutely no reason why our stock has lost almost a third of its value in recent weeks. The sales momentum we experienced in the previous year's fourth quarter continued into the new year. Our business is very much on track and we expect continued solid performance going forward." AVT Corporation solves enterprise communication problems by providing a broad line of open systems-based software products and communications services, specializing in call processing In telecommunication, the term call processing has the following meanings:
RightFAX is a registered trademark of AVT Corporation. This press release contains forward-looking statements within the meaning 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. These forward-looking statements involve risks and uncertainties, including technical and competitive factors, which could cause the Company's results and the timing of certain events to differ materially from those discussed in the forward-looking statements. Such risks are detailed in AVT's latest Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission. NOTE TO EDITORS: News releases are available from AVT's Newsroom fax server. Call 425/820-4089 and follow the prompts. This is document number 77109. News releases can also be found on AVT's World Wide Web site at www.AVTC.com. |
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