Complete quarterly results will be reported on June 28th
QUEBEC CITY, June 1, 2012 /CNW Telbec/ - EXFO Inc. (NASDAQ: EXFO) (TSX:
EXF) announced today preliminary financial results for the third
quarter ended May 31, 2012.
Revenue for the third quarter of fiscal 2012 is expected to be around
US$60.0 million compared to EXFO's previous guidance of US$68.0 million
to US$73.0 million.
Given the lower-than-anticipated revenue level for the third quarter of
2012, EXFO's gross margin will be negatively affected and IFRS net
earnings will end below the company's initial outlook of US$0.01 to
US$0.05 per diluted share.
EXFO will report its complete results for the third quarter of fiscal
2012 after the close of markets on June 28, 2012. All financial numbers
provided in this news release are preliminary and subject to review.
"Challenging macro-economic conditions, coupled with the tightening of
capital spending among network operators during the first half of
calendar 2012, have rendered EXFO's end-markets very difficult for the
short term," explained Germain Lamonde, EXFO's Chairman, President and
CEO. "Europe turned out to be more impacted than expected, the
anticipated pick-up of spending in the Americas did not materialize —
especially with Tier-I operators — while spending in China has been
sluggish. We believe this is not a company-specific issue, but rather a
short-term industry spending pattern, since the requirement for
wireline and wireless operators to invest in their networks in order to
attract growing data revenue remains intact. We see a growing funnel of
serious opportunities, but unfortunately they are being delayed and are
taking longer to close."
Following the release of its quarterly results on June 28, 2012, EXFO
will host a conference call at 5 p.m. Eastern time to review its
performance. To listen to the conference call and participate in the
question period via telephone on June 28, 2012 at 5 p.m. (Eastern
time), dial (416) 641-6684.
Mr. Lamonde and Pierre Plamondon, CA, EXFO's Vice-President of Finance
and Chief Financial Officer, will participate in the call. An audio
replay will be available one hour after the end of the conference call
until 7 p.m. (Eastern time) on July 5, 2012. The replay number is (402)
977-9141 and the reservation number is 21592376. The live audio Webcast
and replay of the conference call will also be available on EXFO's
website at www.EXFO.com/investors.
Listed on the NASDAQ and TSX stock exchanges, EXFO is among the leading
providers of next-generation test and service assurance solutions for
wireless and wireline network operators and equipment manufacturers in
the global telecommunications industry. The company offers innovative
solutions for the development, installation, management and maintenance
of converged, IP fixed and mobile networks — from the core to the edge.
Key technologies supported include 3G, 4G/LTE, IMS, Ethernet, OTN,
FTTx, VDSL2, ADSL2+ and various optical technologies (accounting for an
estimated 35% of the portable fiber-optic test market). EXFO has a
staff of approximately 1800 people in 25 countries, supporting more
than 2000 telecom customers worldwide. For more information, visit www.EXFO.com.
This press release contains forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995
and we intend that such forward-looking statements be subject to the
safe harbors created thereby. Forward-looking statements are statements
other than historical information or statements of current condition.
Words such as may, will, expect, believe, anticipate, intend, could,
estimate, continue, or the negative or comparable terminology are
intended to identify forward-looking statements. In addition,
any statements that refer to expectations, projections or other
characterizations of future events and circumstances are considered
forward-looking statements. They are not guarantees of future
performance and involve risks and uncertainties. Actual results may
differ materially from those in our forward-looking statements due to
various factors including economic uncertainty (including our ability
to quickly adapt cost structures with anticipated levels of business,
ability to manage inventory levels with market demand); future
economic, competitive, financial and market conditions; capital
spending levels in the telecommunications industry; limited visibility
with regards to customer orders and the timing of such orders;
fluctuating exchange rates; our ability to successfully integrate our
acquired and to-be-acquired businesses; consolidation in the global
telecommunications test and service assurance industry and increased
competition among vendors; concentration of sales; market acceptance of
our new products and other upcoming products; our ability to
successfully expand international operations; and the retention of key
technical and management personnel. Assumptions relating to the
foregoing involve judgments and risks, all of which are difficult or
impossible to predict and many of which are beyond our control. Other
risk factors that may affect our future performance and operations are
detailed in our Annual Report, on Form 20-F, and our other filings with
the U.S. Securities and Exchange Commission and Canadian securities
commissions. We believe that the expectations reflected in the
forward-looking statements are reasonable based on information
currently available to us, but we cannot assure you that the
expectations will prove to have been correct. Accordingly, you should
not place undue reliance on these forward-looking statements.
These statements speak only as of the date of this press release.
Unless required by law or applicable regulations, we undertake
no obligation to revise or update any of them to reflect events
or circumstances that occur after the date of this document.
SOURCE EXFO INC.
For further information:
Manager, Investor Relations
(418) 683-0913, Ext. 23733