PYRAMID EXPECTS OPERATING LOSS IN CURRENT QUARTER
PYRAMID EXPECTS OPERATING LOSS IN CURRENT QUARTER SAN JOSE, Calif., March 19 /PRNewswire/ -- Pyramid Technology Corp.
(NASDAQ: PYRD) announced today that due to a projected shortfall in revenues, the company anticipates it will report an operating loss for its fiscal 1992 second quarter ending March 27, 1992. Revenues are now expected to approximate or be somewhat less than the revenues the company reported for its first quarter of fiscal 1992 ($49,423,000), which ended Dec. 27, 1991.
"We continue to find difficult economic conditions in our markets, and have yet to see any signs of a recovery in our business," said Richard H. Lussier, chairman, president and CEO of Pyramid. "We are finding that the competition has increased for the fewer sales opportunities available, putting more pressure on margins. "We are on track to realize the benefits of the company's recent restructuring during our third fiscal quarter of 1992. Although we cannot be certain as to when business conditions in our markets will improve, we are confident the actions we have taken will make us operationally more efficient, while continuing to deliver the highest quality products and support to our customers." The company will provide further details when it reports second quarter results on April 22, 1992. Founded in 1981, the San Jose-based company builds and markets the MIServer line of high availability servers to the open commercial marketplace. Pyramid's symmetric multiprocessing systems run the largest UNIX databases in the world, and are based on an enhanced commercial UNIX operating system, and incorporate the principles of reduced instruction set computing (RISC). -0- 3/19/92 /CONTACT: Gary Valenzuela of Pyramid Technology Corp., 408-428-9000/ (PYRD) CO: Pyramid Technology Corp. ST: California IN: CPR SU: ERN
RM -- SJ002 -- 9839 03/19/92 16:30 EST
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|Date:||Mar 19, 1992|
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