OTTAWA, Aug. 7 /CNW Telbec/ - March Networks(TM) (TSX:MN; AIM:MNW - all
figures in Canadian dollars and in accordance with Canadian GAAP), a leading
provider of IP-based video surveillance solutions, today announced preliminary
revenue results for the first quarter of fiscal 2008 and changes to its
business outlook for fiscal 2008.
Based on preliminary financial data, the Company's revenue in the first
quarter of fiscal 2008 was approximately $24.5 million, which compares to
$22.8 million for the same quarter last year, and compares to $19.8 million
for the fourth quarter of fiscal 2007. The Company's largest customer
accounted for approximately 40% of revenue in the first quarter of fiscal 2008
which compares to 52% in the same quarter last year and 31% in the fourth
quarter of fiscal 2007.
The Company is increasing its revenue expectations for fiscal 2008 to
between $94 million and $103 million based on higher anticipated revenues from
its largest customer. Combined first quarter fiscal 2008 revenue and shipment
backlog for this customer currently totals approximately $20 million. The
Company now expects net earnings before income taxes for fiscal 2008 to be in
the range of $0.5 million to $4.5 million.
March Networks will report its full first quarter results on August 29,
2007 and will discuss the full results and business outlook on a conference
call and webcast to be held on August 30, 2007 at 8:30 a.m EDT (1:30 p.m.
About March Networks
March Networks(TM) (TSX:MN; AIM:MNW) is a leading provider of innovative
video and data applications used for security surveillance, monitoring,
analysis and business optimization. The company's software and IP-based
hardware solutions allow businesses to increase operational efficiencies,
address risk, and manage assets with an integrated set of video-based
intelligence tools and business intelligence applications. The ISO 9001:2000
certified company serves the needs of leading financial institutions,
retailers, transportation authorities, commercial/industrial organizations and
government/homeland security agencies in approximately 50 countries. For more
information, please visit www.marchnetworks.com.
This release contains certain forward-looking information, including
expectations of future business. This information is based on the company's
current expectations and assumptions that are subject to a variety of risks
and uncertainties that are difficult to predict and that may be beyond March
Networks' control. Actual results could differ materially from those expressed
in any forward-looking statements due to factors such as customer demand and
timing of purchasing decisions, increased levels of competition, technological
changes and the successful development of new products, dependence on
third-party manufacturers, risks relating to intellectual property
infringement claims, and other risks and factors identified in March Networks'
public filings with regulatory authorities in Canada. March Networks assumes
no obligation to update these forward-looking statements as a result of new
information or future events.
(*)MARCH NETWORKS and the MARCH NETWORKS logo are trademarks of March
Networks Corporation. All other trademarks are the property of their
For further information:
For further information: Peter Wilenius, March Networks Corporation,
(613) 591-8181, firstname.lastname@example.org