Cytyc Provides Updated Guidance for 2002 and 2003.Business Editors Cytyc Corporation (Nasdaq:CYTC) announced updated guidance for the second quarter 2002, the full year 2002 and the full year 2003. For the second quarter 2002, the Company believes revenues will be in the range of $39 to $43 million, with pro forma earnings pro forma earnings Income not necessarily calculated in accordance with generally accepted accounting principles. For example, a company might report pro forma earnings that exclude depreciation expense and nonrecurring expenses such as restructuring costs. in the range of break-even to $0.03 per share. For the full year 2002, the Company believes revenues will be in the range of $230 million to $245 million, with pro forma earnings of $0.40 to $0.44 per share. Pro forma earnings exclude a potential one-time charge relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc costs associated with the Digene transaction. For the full year 2003, the Company believes revenues will be in the range of $315 to $350 million, with earnings in the range of $0.66 to $0.76 per share. Cytyc Corporation management will host a conference call on June 25, 2002, at 8:30 a.m. (Eastern) to review updated guidance for 2002 and 2003 as well as developments related to the Digene acquisition. Investors may access the call by dialing 800-603-9527; international participants may dial 706-634-0645. The call will be simultaneously broadcast over the Internet from Cytyc's web site at www.cytyc.com, where the event will be available for replay approximately two hours following the conference call until July 2, 2002. In addition, a telephonic replay of the call will be available through July 2, 2002, by calling 800-642-1687 or 706-645-9291 (Access Code: 4698375). Web participants are encouraged to go to the web site at least 15 minutes prior to the start of the call to register, download, and install any necessary audio software. Cytyc Corporation develops, manufactures, and markets products for medical diagnostic applications primarily focused on women's health Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. . The ThinPrep(R) System consists of the ThinPrep(R) 2000 Processor, ThinPrep(R) 3000 Processor, and related reagents, filters, and other supplies. Cytyc is traded on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol CYTC and is a part of the S&P Midcap mid·cap adj. 1. Or or relating to corporations whose retained earnings and outstanding shares of common stock have a value between those of small cap companies and large cap corporations. 2. 400 Index and The Nasdaq-100 Index. Cytyc(R) and ThinPrep(R) are registered trademarks and ThinPrep(R) Pap Test Pap test, Pap smear, or Papanicolaou test (păp'ənē`kəlou), medical procedure used to detect cancer of the uterine cervix. (TM) is a trademark of Cytyc Corporation. 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. in this press release are made pursuant to the provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding management's expectations for financial performance in 2002 and 2003, constitute forward-looking statements which involve risks and uncertainties which could cause actual results to differ, including, without limitation, risks associated with the Company's proposed acquisition of Digene, fluctuations in inventory levels at the Company's laboratory customers, uncertainty of product and technology development and performance, risks associated with the regulatory approval process, uncertainty of market acceptance and additional cost, dependence on proprietary technology, dependence on timely and adequate levels of third-party reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. , dependence on key personnel, and limited number of customers and lengthy sales cycle, as well as risks of downturns in economic conditions generally, and in the healthcare industry specifically, risks associated with competition and competitive pricing pressures, potential liabilities and costs associated with litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and other risks detailed in the Company's filings with the Securities and Exchange Commission, including under the heading "Certain Factors Which May Affect Future Results" in its 2001 Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Commission. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. The Company disclaims any obligation to publicly update or revise any such statements to reflect any change in Company expectations or events, conditions, or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. |
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