Channell Increases First Quarter Revenue and Earnings Estimates.Business Editors & High-Tech Writers TEMECULA, Calif.--(BUSINESS WIRE)--March 26, 2002 Channell Commercial Corp. (Nasdaq:CHNL CHNL Channel ) today announced it expects revenues in the first quarter ending March 31, 2002 to be approximately $19 million, or about $3 million higher than the current street estimate. The company expects first quarter earnings per share to be between $0.02 and $0.04 as compared with the first quarter street estimate of $0.00 per share. In the first quarter of 2001, Channell reported a loss of ($0.14) per share on revenues of $22 million. Channell anticipates reporting first quarter results on April 30, 2002. Drew Zogby, vice president, global marketing, said "First quarter sales have exceeded expectations due to stronger U.S. demand for enclosure products." Tom Liguori, chief financial officer, said, "Although our revenues in the first quarter of 2002 will be lower than revenues in the first quarter of 2001, the restructuring measures announced in November, 2001 have resulted in a cost structure that is profitable at our current and anticipated business levels." About Channell Channell Commercial Corp. is a global designer and manufacturer of telecommunications equipment primarily supplied to telephone and broadband network operators worldwide. Major product lines include a complete line of thermoplastic A polymer material that turns to liquid when heated and becomes solid when cooled. There are more than 40 types of thermoplastics, including acrylic, polypropylene, polycarbonate and polyethylene. and metal fabricated fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: enclosures, advanced copper termination and connectorization products, fiber optic cable Noun 1. fiber optic cable - a cable made of optical fibers that can transmit large amounts of information at the speed of light fibre optic cable transmission line, cable, line - a conductor for transmitting electrical or optical signals or electric power management systems and passive RF electronics. Channell's headquarters and U.S. manufacturing facilities are in Temecula. International operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. include facilities in Toronto, London, Sydney (Australia) and Kuala Lumpur Kuala Lumpur (kwä`lə l  m`pr), city (1990 est. pop. (Malaysia). 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. Forward-looking statements contained within this news release are subject to many uncertainties in the company's operations and business environments. Examples of such uncertainties include customer demand, material costs, integration of acquired businesses and worldwide economic conditions among others. Such uncertainties are discussed further in the company's annual report/10K and S-1 filed with the Securities and Exchange Commission. |
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