Clarent Revises Outlook, Announces Reduction in Workforce.Business Editors 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.--(BUSINESS WIRE)--Sept. 27, 2001 Clarent Corporation (Nasdaq:CLRN CLRN California Learning Resource Network CLRN Community Legal Resources Network CLRN Chemical Laboratory Response Network ), a leading provider of voice solutions for next generation networks, today announced revised guidance for the third quarter 2001. The company also detailed actions designed to achieve cost savings and operating efficiencies in-line with the company's revised guidance. Clarent expects revenue for the third quarter of 2001 to be approximately $17 to $18 million. This compares to previous guidance of $40 to $43 million for the third quarter 2001. In conjunction with the revised guidance, Clarent is also implementing further cost cutting measures, reducing its workforce worldwide by approximately 50%, or around 350 employees in all areas of the company. "The decision to reduce our workforce was a difficult one," said Mike Vargo, 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. , Clarent Corporation. "However, we recognize the importance of responding quickly and appropriately to changing market conditions in order to ensure that Clarent continues on the path to profitability." As part of the reduction, Clarent announced that Steven D'Alencon, chief marketing officer, will be leaving the company. "Clarent is disappointed that the reduction extends to such senior and capable individuals," Vargo stated. "We are pleased that Steve will continue to assist Clarent for a transitional period of time." In separate and unrelated news, Clarent announced the resignation of Peter Bohacek, senior vice president of business development and product marketing. Bohacek resigned to renew his business development consulting practice. Vargo commented, "Peter has been with Clarent since its early stages and has contributed to and shared in the success of the company. We are pleased that he will continue to assist Clarent on a transitional basis." About Clarent Clarent Corporation (Nasdaq:CLRN) is a leading provider of voice solutions for next generation networks. Clarent's solutions enable service providers to deploy a converged network The integration of the telephone system with IP-based data networks. See softswitch. (networking) converged network - A single network that can carry voice, video and data. (voice, data and applications). Clarent solutions reduce costs and increase operating efficiencies while delivering innovative new services that allow end users to manage their communications. Founded in 1996, Clarent is headquartered in Redwood City, Calif. and has offices in Asia, Europe, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . For more information please visit www.clarent.com. Forward Looking Statements 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. that involve risks and uncertainties, including statements about the Company's plans to affect cost savings and operational efficiencies in connection with its reduced guidance. These statements involve risks and uncertainties, including but not limited to the effectiveness of the Company's management during the transition of the Company's organization in the workforce reduction, the Company's ability to successfully expand sales and channels, successfully utilize reduced resources effectively, improve operational productivity and efficiencies, introduce new products and product enhancements, the successful development of enhanced IP-based communications services and features, the rate and extent of consumer acceptance of these services and features, as well as potential issues relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc interoperability The capability of two or more hardware devices or two or more software routines to work harmoniously together. For example, in an Ethernet network, display adapters, hubs, switches and routers from different vendors must conform to the Ethernet standard and interoperate with each other. , ability to retain customers, changes in market conditions, technological changes, and other factors which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. These risks and uncertainties are described further in Clarent's periodic filings with the SEC. Trademarks Clarent, the Clarent logo, Clarent OpenAccess, NetPerformer, DynaStar, Clarent Command Center, Clarent ThroughPacket, Clarent CPG CPG central pattern generators. , PowerCell, SkyPerformer, ACTview and ServiceXchange are trademarks or registered trademarks of Clarent Corporation 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. and other jurisdictions. All other trademarks, registered trademarks and service marks are the property of their respective owners. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion