Black Box Corporation Announces Expected Results for Second Quarter of Fiscal 2002.Business & High-Tech Editors PITTSBURGH--(BUSINESS WIRE)--Oct. 11, 2001 Black Box Corporation (Nasdaq:BBOX) today announced that it expects revenues for the quarter ended September 30, 2001 to be approximately $197 million, down 6% from the same period last year. Second quarter earnings per share are expected to be 82 cents or 83 cents, compared with 82 cents for the same period last year. Free cash flow for the quarter is expected to be $18 million, compared to $21 million for the same period last year and $8 million for the first quarter of this year. Commenting on the expected results, Fred C. Young, Chief Executive Officer, said, "With the combination of a recession and war, revenue levels are down. Despite this double-header impact, we are successfully maintaining our high margin business model. Profitability ratios Profitability ratios Ratios that focus on how well a firm is performing. Profit margins measure performance with relation to sales. Rate of return ratios measure performance relative to some measure of size of the investment. remain strong with operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: at approximately 15% and after tax income approaching 9%." Mr. Young went on to say, "The unfortunate September 11th tragedy impacted us by about $3 to $4 million in revenues and 3 cents to 4 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . Looking forward, we will remain steadfast to our business model. We strongly believe our strategy is properly focused and will continue to drive sustained profitability, cash flow and long-term growth. During our conference call on Tuesday, October 16, we will discuss more specifics on future financial expectations. In the near-term, we expect increased profits and cash flow for our December third quarter." The Company will report its second quarter results on October 16, 2001. A conference call will be conducted beginning at 10:45 a.m. Eastern Time that same day, hosted by Fred Young For the Native American physicist of the same name, see . Fred Matthews Young (died December 1993) was a Canadian politician, ordained minister and long time organizer for the Co-operative Commonwealth Federation (CCF). , Chief Executive Officer. To participate in the call, please dial 800-450-0819 approximately 10 minutes prior to the starting time Noun 1. starting time - the time at which something is supposed to begin; "they got an early start"; "she knew from the get-go that he was the man for her" commencement, get-go, offset, outset, showtime, start, kickoff, beginning, first and ask to be connected to the Black Box Earnings Call. This release contains 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. , which are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. The statements are 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 and speak only as of the date of this press release. Black Box is the world's largest technical services company dedicated to designing, building and maintaining today's complicated network infrastructure systems. Black Box services clients in 132 countries throughout the world. |
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