California Microwave Lowers Earnings Expectations for Current Quarter.SUNNYVALE, Calif.--(BUSINESS WIRE)--Dec. 20, 1995--California Microwave, Inc. (Nasdaq National Market: CMIC CMIC CPU Management Interface Controller CMIC Caucasus Media Investigations Center (Baku, Azerbaijan) CMIC Combined Military Interrogation Center (Vietnam) CMIC Configuration Management Information Center ) announced today that it is expecting earnings per share for its fiscal year 1996 second quarter ending December 31, 1995, to be in the range of $.20 to $.24 as a result of lower-than-projected bookings and related sales in its satellite and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. products businesses. The company indicated that it was expecting comparable sales levels in its fiscal third quarter. California Microwave reported earnings of $.35 per share on sales of $119 million for its second quarter last year. Wireless Market Moving Slower Than Expected According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. California Microwave's chairman and chief executive officer, Philip F. Otto, "We have been saying since December of 1994 that we'd see revenue from the Personal Communications Services See PCS. (PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. ) market in 1996. Continuing delays in both international cellular and in resolving U.S. PCS regulatory and network engineering issues have caused the build-out of the PCS networks to move more slowly than we expected. We have received several million dollars of orders for the U.S. microwave relocation market, which is opening up before the cellular interconnection in·ter·con·nect v. in·ter·con·nect·ed, in·ter·con·nect·ing, in·ter·con·nects v.intr. To be connected with each other: The two buildings interconnect. v.tr. portion, as evidenced by our increasing bidding activity." California Microwave, Inc. is a leader in wireless communications. It is the number one U.S. supplier of microwave radios and telecommunications satellite earth stations used in wireless communications. The company operates facilities in seven states and sells into more than 110 countries. Its strategy calls for significant expansion in the wireless area. CONTACT: California Microwave, Inc. Stephanie M. Day, 415/596-6629 or William Dunk Partners Deborah Passik, 214/960-9611 |
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