BigBand Networks Announces Revised Revenue Outlook for Third Quarter of 2007.REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif. -- BigBand Networks BigBand Networks (known as BigBand ; NASDAQ: BBND) is a multinational corporation headquartered in Redwood City, California, United States. BigBand manufactures and sells digital video and data processing platforms and solutions in areas ranging from digital video to CMTS. , 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 :BBND) today revised its revenue outlook for the third quarter ending September 30, 2007. The Company now expects to report revenue for the third quarter in the range of $35 to $39 million, which is below the Company's previous guidance of $54 to $58 million. The lower revenue outlook is due to several coincident factors. BigBand has been deploying switched digital video See switched video. across an expanding number of customers and configurations. Some of these ongoing deployments have required more software customization and integration than originally expected. This impacted the Company's ability to recognize switched digital revenue for some deployments in the third quarter. The Company also experienced slowdown in Telco-TV revenue, as its major customer worked through some previously purchased inventory. Finally, the Company experienced continued softness in its data business. As a result of lower revenue expectations, BigBand expects to report an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. for the third quarter of fiscal year 2007. "While we believe the market for our video solutions continues to be strong and are confident in our roadmap for the long term, we are clearly disappointed in our execution this quarter," said Amir Bassan-Eskenazi, BigBand's chief executive officer. "We are aggressively addressing these issues and will provide more specifics in our announcement of third quarter financial results in early November." Conference Call to Discuss Preliminary Results The Company will host a corresponding conference call at 2:00 p.m. Pacific Daylight Time on Thursday, September 27, 2007 which is available to investors by dialing +1.800.257.2182 or +1.303.262.2138 for callers outside the U.S. and Canada. An audio replay of the call will also be available to investors beginning at approximately 4:00 p.m. Pacific Daylight Time on Thursday, September 27, 2007 until Wednesday, October 31, at 11:59 p.m. Pacific Daylight Time, by dialing +1.800.405-2236 or +1.303.590-3000 for callers outside the U.S. and Canada and entering passcode 11098637. Cautionary Statement The statements in this release relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc BigBand's revenue guidance for the September 30, 2007 quarter, delays in deploying solutions, softness in our Video and Data businesses, expected operating loss the September quarter, market growth, pace of adoption, BigBand's roadmap and efforts to address BigBand's execution challenges are forward-looking statements made pursuant to the 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. 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. These statements involve risks and uncertainties that could cause our actual results to differ materially, including, but not limited to: changes in demand for video services, the market acceptance of our products; the fluctuations in our gross margins; the concentration of our customer base; competitive developments including pricing pressures; the timing of recognition of a significant portion of our net revenues given the complex systems integration involved; the level of orders that are received and can be shipped in a given quarter; unexpected delays in deploying our solutions and general economic, industry or political conditions in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. or internationally. For a detailed discussion of these and other risk factors, please refer to BigBand's Report on Form 10-Q Form 10-Q See 10-Q. ("Form 10-Q") filed on August 10, 2007. You can obtain a copy of the Form 10-Q on the SEC's Web site (www.sec.gov). Stockholders of BigBand Networks are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. BigBand Networks does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this September 27, 2007 press release, or to reflect the occurrence of unanticipated events. About BigBand Networks BigBand Networks, Inc. provides broadband service providers with innovative network solutions designed to make it easier to move, manage and monetize video. These solutions are based on BigBand's video-networking platforms that are built to enable efficient and reliable delivery of video, voice and data across a wide range of services, including digital TV, high definition TV, addressable Reachable. When something is addressable, it can be identified and manipulated independently of its surroundings. For example, screen pixels and RAM memory are addressable. Each of the screen's picture elements can be individually turned on and off, and each of the memory's bytes can be advertising, video-on-demand, interactive TV, Internet TV (1) Watching TV programs on or from the Internet. There are countless video clips available on Web sites for streaming as well as subscription services that offer TV programs and movies for downloading. , video telephony See videophone. , high-speed Internet and voice-over-IP. BigBand Networks' customers include more than 200 service providers--including six of the ten largest service providers in the U.S.--and leading cable and telco service providers in North America, Asia, Europe and Latin America. BigBand Networks is based in Redwood City, Calif., with offices worldwide. For additional information about the company, please call +1.650.995.5000, email info@bigbandnet.com or visit www.bigbandnet.com. |
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