Aether Systems Announces $20 Million Buyback of Convertible Debt; Management Comfortable with Guidance for Balance of 2001.Business Editors/Hi-Tech Writers OWINGS MILLS, Md.--(BUSINESS WIRE)--May 29, 2001 Aether aether: see ether, in physics and astronomy. Aether god of whole atmosphere. [Gk. Myth.: Jobes, 42] See : Air Systems, Inc. (Nasdaq:AETH), a leading provider of wireless data products and services, today announced a company buyback Buyback The buying back of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies will buyback shares either to increase the value of shares still available (reducing supply), or to eliminate any threats by shareholders who may of $20 million in convertible debt. Based on management's review of Q2 information, the company also reiterated its confidence in meeting previously disclosed guidance, which includes Q2 revenue of $37 million and $160 million in revenue for the year. "Our decision to buy back $20 million in debt reiterates the fact that Aether's cash position is solid and our path to profitability remains clear," said Aether 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. Dave Oros. "As operating spending improves over time, we remain confident that we will achieve our EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become positive target date of Q3 2002." In April, Aether introduced Aether Fusion(TM), the company's modular and scalable foundation for complete wireless solutions. In recent weeks, Cadec Corporation, a leader in providing onboard Refers to a chip or other hardware component that is directly attached to the printed circuit board (motherboard). Contrast with offboard. See inboard. logistics management Logistics Management is that part of Supply Chain Management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet in the transportation industry, and Intermec Intermec Inc. is a major manufacturer and worldwide supplier of Automated identification and data capture equipment, including barcode scanners, barcode printers, mobile computers and RFID systems. Intermec's headquarters is located in Everett, WA, United States. Technologies Corp., a leader in global supply chain solutions, have adopted Aether Fusion for their respective wireless initiatives. "Aether Fusion allows Aether to derive a greater percentage of our revenues from the higher margin software licensing and related services business," Oros said. "We look forward to increased adoption as Aether Fusion becomes the standard for mobile and wireless solutions in the enterprise." About Aether Systems, Inc. Aether Systems helps enterprise customers improve efficiency and profitability by providing the services, software and support necessary to extend existing and future business applications from the desktop to any wireless device. Through Aether Fusion(TM), Aether's wireless enabling technology foundation, Aether develops, deploys and manages wireless solutions built on industry standard technology and backed by Aether's expertise in wireless hosting, software and services. Aether provides the business world with a single source for reliable, scalable and cost effective wireless solutions. For more information, please visit www.aethersystems.com. This press release includes 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. based on current expectations and projections about future events. These forward-looking statements are subject to a number of risks, uncertainties and assumptions about Aether that could cause actual results to differ materially from those in such forward-looking statements. Risk factors are described in Aether's most recent filings with the Securities and Exchange Commission. Aether undertakes no obligation to update the forward-looking statements contained in this press release. |
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