Westell Technologies Raises Fiscal Second Quarter 2009 Guidance
Improvement Driven by Increased DSL Modem and Gateway Orders
AURORA, Ill.--(BUSINESS WIRE)--
Westell Technologies, Inc. (NASDAQ: WSTL), a leading provider of broadband products, gateways and conferencing services, today announced the company is updating its revenue and earnings guidance for the fiscal second quarter of 2009.
Revenue for the fiscal second quarter of 2009 is now expected to be between $41.0 and $43.0 million, which equates to a loss of $0.07 to $0.09 per diluted share. The original revenue range of $37.0 to $39.0 million, or loss of $0.10 to $0.11 per diluted share, was provided in the company's fiscal first quarter 2009 earnings release on July 23, 2008.
"The primary drivers behind the increased guidance are additional orders for our ProLine and VersaLink DSL gateways needed to address incremental volume requirements for a High Speed Internet marketing promotion by one of our valued customers as well as cost containment," said Westell Chief Executive Officer Bernie Sergesketter. "This situation is just one example of Westell's commitment to developing innovative products that our clients need."
Westell Technologies, Inc., headquartered in Aurora, Illinois, is a holding company for Westell, Inc. and ConferencePlus, Inc. Westell, Inc. designs and develops broadband telecommunications access products. ConferencePlus, Inc. is a collaborative Application Service Provider that manages and hosts voice, video, IP applications and back-office services. Additional information can be obtained by visiting Westell's Web site at www.westell.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act 1995:
Certain statements contained herein that are not historical facts or that contain the words "believe", "expect", "intend", "anticipate", "estimate", "may", "will", "should", or derivatives thereof and other words of similar meanings are forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, product demand and market acceptance risks, need for financing, an economic downturn in the U.S. economy and telecom market, the impact of competitive products or technologies, competitive pricing pressures, new product development, excess and obsolete inventory, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the effect of Westell's accounting policies, the need for additional capital, the effect of economic conditions and trade, legal social and economic risks (such as import, licensing and trade restrictions) and other risks more fully described in the Company's Form 10-K for the fiscal year ended March 31, 2008 under the section Risk Factors. The Company undertakes no obligation to publicly update these forward-looking statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or otherwise.
Source: Westell Technologies, Inc.
Released September 18, 2008