TORONTO, Nov. 6, 2012 /CNW/ - Redline Communications (www.rdlcom.com) Group Inc. (TSX: RDL), a leading provider of specialized broadband wireless solutions, issues notice today that it will report financial results for its third quarter ended September 30, 2012 before market open on November 13, 2012. A conference call to discuss the results will be held the same day at 8:00 a.m. Eastern.
"On this call we will discuss our recent sales momentum and record third quarter Bookings of approximately $15 million, substantially higher than any prior quarter," said Eric Melka, CEO of Redline Communications. "Based on our preliminary review of Q3 results, we expect a significant increase in our order Backlog, from $7.8 million at the end of Q2 to approximately $16 million at the end of Q3, and we expect our Q3 revenues to be in line with expectations at approximately $8 million."
The Company noted that these 2012 third quarter results are preliminary and therefore subject to the completion of its customary quarterly closing and review procedures, as well as a review by the Company's independent registered public accounting firm.
To participate in the conference call, please dial 1-647-427-7450 or 1-888-231-8191 approximately 10 minutes before the conference call, and provide passcode 59506212. A recording of the call will be available through November 20, 2012. Please dial 1-416-849-0833 or 1-855-859-2056 and enter passcode 59506212 to listen to the rebroadcast. A webcast of the call will also be available on Redline's website at http://www.rdlcom.com/en/about/investors/webcasts.
Note: All amounts reported in this press release are in US dollars unless otherwise stated. To better assess the health and growth of the Redline's business, Redline reports on several key metrics, including "Orders or Bookings", "Shipped or Shipments" and "Backlog." Definitions of these categories can be found in Redline's Management Discussion and Analysis, copies of which are available on SEDAR at www.sedar.com.
About Redline Communications
Redline Communications (www.rdlcom.com) the innovator of Virtual Fiber™, a specialized wireless broadband system used by companies and governments worldwide to cost-effectively deploy distributed services and applications. Redline Virtual Fiber™ solutions are used to facilitate and enhance public safety networks, deploy and extend secure networks, connect digital oil fields and smart grids, and bring dedicated Internet access wherever and whenever it's needed. Redline has been delivering powerful, versatile and reliable wireless systems to governments, the military, oil and gas, and the telecom industry for over a decade through its global network of certified partners. For more information visit www.rdlcom.com.
Forward Looking Statements
Certain statements in this release may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws. In some cases, forward-looking statements can be identified by terms such as "could", "expect", "may", "will", "anticipate", "believe", "intend", "estimate", "plan", "potential", "project" or other expressions concerning matters that are not historical facts. Readers are cautioned not to place undue reliance upon any such forward-looking statements.
Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause the actual results, performance, achievements or developments of Redline to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements, by their nature, are based on certain assumptions regarding expected growth, management's current plans, estimates, projections, beliefs, opinions and business prospects and opportunities (collectively, the "Assumptions"). While the Company considers these Assumptions to be reasonable, based on the information currently available, they may prove to be incorrect.
Many risks, uncertainties and other factors could cause the actual results of Redline to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. These risks, uncertainties and other factors include but are not limited to the following: significant competition, competitive pricing practices, cautious capital spending by customers, industry consolidations, rapidly changing technologies, evolving industry standards, frequent new product introductions, short product life cycles and other trends and industry characteristics affecting the telecommunications industry; any material, adverse effects on Redline's performance if its expectations regarding market demand for particular products prove to be wrong; any negative developments associated with Redline's suppliers and contract manufacturing agreements including the Company's reliance on certain suppliers for key components; potential penalties, damages or cancelled customer contracts from failure to meet delivery and installation deadlines and any defects or errors in Redline's current or planned products; fluctuations in foreign currency exchange rates; potential higher operational and financial risks associated with Redline's efforts to expand internationally; a failure to protect Redline's intellectual property rights, or any adverse judgments or settlements arising out of disputes regarding intellectual property; changes in regulation of the wireless industry or other aspects of the industry; any failure to successfully operate or integrate strategic acquisitions, or failure to consummate or succeed with strategic alliances; and Redline's potential inability to attract or retain the personnel necessary to achieve its business objectives or to maintain an effective risk management strategy (collectively, the "Risks"). For additional information on these Risks, see Redline's most recently filed Annual Information Form ("AIF") and MD&A, which are available on SEDAR at www.sedar.com and on the Company's website at www.redlinecommunications.com. Redline assumes no obligation to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by law. All forward looking statements contained in this release are expressly qualified in their entirety by this cautionary statement.
SOURCE: Redline Communications Group Inc.
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Chief Financial Officer