Ciprico Announces Reduced First Quarter Expectations.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Dec. 21, 1999 Ciprico Inc. (Nasdaq: CPCI See CompactPCI. ), today announced that it expects reduced earnings for the first quarter of fiscal 2000 due to delays in new OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and programs and a decline in revenues in the geospatial Geospatial is a term widely used to describe the combination of spatial software and analytical methods with terrestrial or geographic datasets. The term is often used in conjunction with geographic information systems and geomatics. imaging market. The Company expects revenues for the first quarter of fiscal 2000 to approximate $7 million compared to revenues of $7.8 million in the first quarter of 1999. The Company believes that lower revenues could result in a small loss for the quarter. The First Call Corporate Monitor service currently reports analysts' consensus estimates for the first quarter at $.10 per share. "Although we are disappointed with the time it is taking for some new OEM customers to ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale the programs involving our products, we remain convinced that overall, the considerable depth of our product line will encourage renewed growth for the Company," stated Bob Kill, Ciprico President 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. . "We expect geospatial imaging accounts to return to normal ordering levels next quarter. We are also enthusiastic about new opportunities as our FibreSTORE Family of Storage Systems is introduced into more applications and more programs," continued Kill. Certain statements in this news release are forward looking and should be read in conjunction with cautionary statements in the Company's SEC filings, reports to shareholders and other news releases. The Company's quarterly and annual operating results are affected by a wide variety of factors, including competitive market conditions, limited levels of backlog, the tendency of a large percentage of orders to be received in the last month or weeks of the quarter, and component cost and availability. Ciprico Inc. designs, manufactures and markets high-performance direct-attached and networked storage solutions, including intelligent hardware, software and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. . Ciprico storage solutions are designed for visual computing The use of computers for 3D modeling and animation. See visualization. applications ranging from high-speed image data capture, through processing and analysis, to real-time playback at sustained performance levels. Ciprico is headquartered in Minneapolis, MN. Additional information about Ciprico can be obtained through the Internet at www.ciprico.com. |
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