Advanced Power Technology to Present at the Needham Growth Conference in New York City; Company Provides Updated Guidance.BEND, Ore. -- Advanced Power Technology, 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 :APTI APTI Association for Preservation Technology International APTI Air Pollution Training Institute ) announced that Patrick Sireta, 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. will speak at the Seventh Annual Needham Growth Conference in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. on Wednesday, January 12th at approximately 4:30 pm EST EST electroshock therapy. EST abbr. electroshock therapy . A copy of the slides presented at the Needham conference will be available Wednesday, January 12th, for interested parties to view at the company's web site at http://www.advancedpower.com. In addition, a live webcast of the presentation can be accessed by going to http://www.advancedpower.com/InvestorRelations/IRPresentations. A replay of the webcast will be available for 60 days. The company also announced today that it expects its revenues for the fourth quarter ending December 31, 2004 to be within the $15.8 million to $16.8 million range previously given, at approximately $16.0 million. Patrick Sireta, Chief Executive Officer commented, "As announced in our press release dated October 21, 2004, we experienced soft demand during the fourth quarter of 2004 from customers in the semiconductor capital equipment and the communications & data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a markets. In the first quarter of 2005 we anticipate stabilized market conditions in those two markets. We expect our revenues in the first quarter of 2005 to be in the range of $13.2 million to $13.8 million." "The expected first quarter 2005 sequential revenue decline is due to the completion of a large radar order which contributed about $2.8 million to our fourth quarter 2004 revenues. Other than this $2.8 million impact we expect our first quarter 2005 revenues to be sequentially flat to slightly up as a result of the combination of stabilized market conditions, with design wins production ramp-up offsetting the remaining inventory corrections underway at some of our key customers. I believe that we are well positioned to resume sustained sequential revenue growth in the second quarter of 2005 and that such revenue increases will be driven primarily by new products and new designs," concluded Mr. Sireta. About Advanced Power Technology With operations in Bend, Oregon, Santa Clara, California Santa Clara, California (IPA: /ˌsæntəˈklærə/) , founded in 1777 and incorporated in 1852, is a city in Santa Clara County, in the U.S. state of California. , Montgomeryville, Pennsylvania, Boulder, Colorado and Bordeaux France, APT is a leading supplier of power semiconductors for RF, Microwave, Linear, and Switchmode Applications. For additional information on Advanced Power Technology, visit its website at www.advancedpower.com. 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. Statement Except for historical information contained herein, the matters discussed in this press release are forward-looking statements made pursuant to safe harbor provisions 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. APT cautions that such statements, including those related to the Company's financial projections, are subject to a number of uncertainties, and actual results may differ materially. Factors that could affect the Company's actual results include the ability of subcontractors to meet their delivery commitments; unfavorable changes in industry and competitive conditions; the Company's mix of product shipments; the accuracy of customers forecasts; the effectiveness of the Company's efforts to control and reduce costs; and other uncertainties disclosed in the Company's filings with the Securities and Exchange Commission including our 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 on March 10, 2004. The Company assumes no obligation to update the information in this release. |
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