Loudcloud Reaffirms Q1 Estimates and Provides Outlook for Second Quarter.Business Editors/High-Tech Writers SUNNYVALE, Calif.--(BUSINESS WIRE)--May 24, 2002 As a follow up to its prior business update, Loudcloud (Nasdaq:LDCL), the leading managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality provider, today reaffirmed its previous revenue and earnings guidance for its first fiscal quarter ended April 30, 2002. The company also said that it expects second quarter revenue and earnings will be consistent with analyst expectations. The current First Call revenue estimates for Q2 range from $16.9 to $17.0 million and the earnings per share loss estimate is 45-46 cents. In addition, Loudcloud reiterated its prior guidance for cash burn in the second quarter, which it said should be in the $18-20 million range, lower than the current analyst consensus estimate of $22 million. Management will discuss first quarter results and Q2 guidance on their upcoming conference call scheduled for 2 p.m. PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico PDT , June 6, 2002. About Loudcloud Loudcloud, Inc. is the leading managed services provider, offering a complete solution to enterprise customers for outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. global Internet operations. Loudcloud deploys, manages, secures, scales and monitors e-business systems using its unique Opsware(TM) automation technology, which automates functions otherwise done manually, delivering higher quality, cost savings, and increased flexibility. Loudcloud manages its systems via a worldwide network of data centers and Loudcloud Operations Centers The facility or location on an installation, base, or facility used by the commander to command, control, and coordinate all crisis activities. See also base defense operations center; command center. located in 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. and Europe. For more information on Loudcloud, please visit our Web site at www.loudcloud.com. Loudcloud and Opsware are service marks and trademarks of Loudcloud, Inc. All other product names, service marks, and trademarks mentioned herein are trademarks of their respective owners. This press 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. regarding Loudcloud's revenue and earnings expectations for the first quarter and second quarter of fiscal 2003 and Loudcloud's cash burn expectations for the second quarter of fiscal 2003. These statements are subject to risks and uncertainties that could cause actual results to differ materially from these statements, including the risk that assumptions underlying Loudcloud's current business strategy may change, and the risk that customer orders will be delayed, canceled or not received in light of current economic conditions. More information about these and other factors that could affect Loudcloud's business and financial results is included in Loudcloud's 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 SEC on May 1, 2002 under the headings "Risk Factors" and "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations." |
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