Comdial's Mid-Quarter Update.Business Editors/High Tech Writers CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--June 2, 2000 Comdial Corporation (Nasdaq: CMDL CMDL Climate Monitoring and Diagnostics Laboratory CMDL Common Mission Data Loader ) today issued a mid-quarter update on the changing conditions in the telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. market and the anticipated impact on the Company's results. William G. Mustain, Comdial's 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. , commented, "We are seeing a decline in demand for our communications solutions products in the small to mid-sized business market. We attribute this to two key factors: the first is a post-Y2K slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. and the second is overall market uncertainty about next-generation technology. The Phillips Group, a leading market research firm, recently issued a report indicating they also expected flat to declining conditions in the small to mid-sized business market for the next several quarters for the same reasons. Because of this, we are working with our supply house partners to reduce their inventory levels. The reduced inventory levels will allow Comdial to accelerate the implementation of our value-chain enhancing e-commerce program which has been made possible by our investment in a new information technology system from JD Edwards See J.D. Edwards. ." "We believe the current market conditions will impact our revenue and we expect sales for the quarter to be between $25 and $27 million with an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of between $1.5 and $3.0 million," concluded Mr. Mustain. Note to Investors: Comdial will hold a conference call on Monday, June 5, 2000 at 11:00 a.m. EST EST electroshock therapy. EST abbr. electroshock therapy . The conference call dial-in number is (800) 633-8298. Please call in 5 minutes prior to the scheduled start of the call. The reservation number is 15405963. About Comdial Comdial is a provider of integrated communications solutions for small and mid-size organizations. The Company's broad product line includes business communications, hospitality, senior living, real estate and call center solutions. For more information about Comdial and its products, please visit our web site at http://www.comdial.com . 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 are subject to risks and uncertainties including, but not limited to, the impact of competitive products, product demand and market acceptance risks, reliance on key strategic alliances, fluctuations in operating results, delays in development of highly complex products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These risks could cause the Company's actual results for 2000 and beyond to differ materially from those expressed in any forward-looking statement made by, or on behalf of, the Company. |
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