Avistar Communications Corporation to Present At the Chase Connected 2000 Conference and AEA Financial Classic.Business Editors/High-Tech Writers Chase H&Q Connected 2000 and AEA AEA Atomic Energy Authority AEA n abbr (BRIT) (= Atomic Energy Authority) → consejo de energĂa nuclear; (BRIT) (SCOL) (= Advanced Extension Award) → Financial Classic Conference REDWOOD SHORES, Calif.--(BUSINESS WIRE)--Oct. 24, 2000 Reconfirms Financial Guidance for the 4th Quarter 2000 Avistar Communications Corporation ("Avistar") (Nasdaq:AVSR (Audio Visual Speech Recognition) Using lip reading software to enhance speech recognition. In noisy environments where a camera can be included, AVSR improves the computer's ability to recognize the speaker's words by visually tracking lip movement and ), the enterprise video company, today announced that management would host meetings with investors at the Chase H&Q Connected 2000 Conference on November 1, 2000. The following week, Gerald J. Burnett, 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. and R. Stephen Heinrichs, vice chairman and CFO See Chief Financial Officer. , will present at the American Electronics Association The American Electronics Association (now known as AeA) is a nationwide non-profit trade association that represents all segments of the technology industry in the United States. (AEA) Financial Classic Conference during the second session on November 7 and 8, 2000. Management also confirmed the financial guidance for the fourth quarter of 2000 offered on the Company's October 12, 2000 conference call. "We continue to expect fourth quarter 2000 revenues to grow sequentially ten to fifteen percent from third quarter 2000 reported results. We are currently estimating gross margins of between 55% and 58% for the fourth quarter. We would expect to spend between $1.2 million and $1.4 million on R&D in the current fourth quarter. We also expect to continue to invest in sales and marketing in order to increase our distribution and visibility, both domestically and overseas. Sales and Marketing expense will be between $2.4 million and $2.6 million for the fourth quarter. General and Administrative expense will likely be between $1.4 million and $1.6 million this quarter. These estimates are the same as the prior guidance we have provided," commented R. Stephen Heinrichs, vice chairman and CFO of Avistar. Avistar Communications Corporation Avistar develops, markets and supports video-enabled communications networks which are helping transform how people collaborate. The Avistar product line includes a seamless, integrated suite of video and data collaboration See data conferencing. applications, all managed by the Avistar Video Operating System operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. . From a desktop, the system delivers high quality interactive video calling, content creation and publishing, broadcast video, video-on-demand, and integrated data sharing. Based on an open software platform and leveraging video, telephony and Internet networking standards, the Avistar network is scalable, reliable, cost effective, easy to use and designed to evolve with changing technologies. Avistar Communications Corporation is headquartered in Redwood Shores, California Redwood Shores is an upscale and desirable [1] waterfront neighborhood on the San Francisco Peninsula in California. It is located on the eastern edge of Belmont, but is actually part of incorporated Redwood City. , with offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Dallas and London. Avistar Systems, Inc. and Collaboration Properties, Inc Collaboration Properties, Inc. (CPI) is a wholly owned subsidiary of Avistar Communications Corporation. It holds US and foreign patents in the primary areas of presence-based interactions, desktop video, recorded and live media at the desktop, multimedia documents, data sharing, . are wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Avistar Communications Corporation. Collaboration Properties, Inc. develops and holds patents on a wide range of networked video software and hardware. For more information on Avistar, visit www.avistar.com. Forward Looking Statements Statements made in this news release, other than statements of historical fact, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, including statements regarding Avistar's "expectations", "goals", "beliefs", "hopes", "strategies", "intentions", or the like. Such statements are subject to risks and uncertainties that could cause actual results to differ materially, including such factors, among others, as the impact of competitive products and pricing, the timely development and market acceptance of new products, the ability to raise capital, the mix between domestic and international sales, manufacturing and cost of Avistar's products, dependence on collaborative partners, the enforcement of intellectual property rights, and uncertainties relating to sole source suppliers, and technological approaches. As a result of these and other factors, Avistar expects to experience significant fluctuations in operating results, and there can be no assurance that Avistar will become or remain consistently profitable in the future. These and other risk factors are discussed in Avistar's Registration Statement on Form S-1 (File No. 333-39008) as declared effective by the Securities and Exchange Commission on August 17, 2000 (see, in particular, Risk Factors and Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations). Avistar disclaims any intent or obligation to update these forward-looking statements. Note to Editors: Avistar, the Avistar logo, and Avistar Systems are trademarks or registered trademarks of Avistar Communications Corporation. All other names used are the trademarks of their respective owners. |
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