Redback Networks Expects Lower Fourth Quarter 2006 Revenue
05 Gennaio 2007 - 12:00AM
Business Wire
Redback Networks Inc. (NASDAQ:RBAK) today announced that it
preliminarily expects lower than anticipated revenue of
approximately $64 million for the fiscal quarter ended December 31,
2006. �The fourth quarter was our largest quarter ever for the
SmartEdge products as we experienced substantial quarter over
quarter revenue growth and the acquisition of several new large
SmartEdge customers,� said Kevin DeNuccio, president and chief
executive officer, Redback Networks. �Unfortunately we failed to
meet our revenue targets due to, among other reasons, distribution
channel disruptions caused by the timing of our proposed
acquisition by Ericsson, and lower than expected revenue from our
older SMS product line as we transitioned our largest SMS customers
in the fourth quarter to our SmartEdge products. We expect that
substantially all of the delayed purchases will become revenue in
2007.� Mr. DeNuccio continued, �We are excited about the progress
we made last quarter with our SmartEdge product line, and the
positive reactions of our customers to the Ericsson proposed
acquisition. I want to assure our shareholders, customers and
employees that Ericsson�s plans for the pending transaction
remain�unchanged.� The full financial details of the quarter�s
results will be presented at Redback�s regularly scheduled fiscal
fourth quarter 2006 results conference call on January 30, 2007 at
1:45 p.m. Pacific Time. The details of the call and webcast are as
follows: Date: Tuesday, January 30, 2007 Time: 1:45 p.m. PT/2:45
MT/3:45 CT/4:45 ET Domestic Dial-in phone number: 1-800-559-2403
International Dial-in phone number: 1-847-619-6534 Passcode:
16677677 Webcast: You can also participate in the conference call
via your computer by registering your name on Redback's Investor
Center at: http://ir.redback.com. The conference call will be
archived on Redback�s Investor Center website. A replay will be
accessible by telephone one hour after conclusion of the call until
February 26, 2007. To ensure that the conference begins in a timely
manner, please dial in 10 minutes prior to the scheduled start
time. About Redback Networks Redback Networks Inc. manages 50
million broadband connections for 15 of the top 20 telephone
carriers worldwide. Redback�s multi-service routing platform
delivers next generation broadband services such as VoIP, IPTV and
On-Demand Video. Redback Networks has more than 500 carrier
customers worldwide and is based in San Jose, CA. In 2006, Redback
marks its 10 year anniversary, celebrating ten years of broadband
innovation. For more information, visit Redback Networks at
www.redback.com. REDBACK and SmartEdge are trademarks registered at
the U.S. Patent and Trademark Office and in other countries. NetOp
is a trademark of Redback Networks Inc. All other products or
services mentioned are the trademark, service marks, registered
trademarks or registered service marks of their respective owners.
Note Regarding Forward Looking Statements The statements contained
in this press release that are not purely historical are
forward-looking statements which are subject to the safe harbor
provisions of the Private Litigation reform Act of 1995. These
statements include but are not limited to statements regarding our
expected financial results for the fiscal quarter ended December
31, 2006 and expectations regarding the timing of customer
purchases and related revenue in 2007. These statements are only
predictions and involve a number of risks and uncertainties, the
outcome of which could materially and/or adversely affect Redback�s
actual future results. These risks include without limitation,
final review of quarterly results by the Company and the Company�s
independent auditors; variations in customer demand for products
and services; the impact of industry consolidation on customer
buying patterns; timing of orders and manufacturing lead times;
changes in customer order trends or customer or product mix; and
growth trends in the networking industry and in various geographic
regions. Other risks relating to Redback�s business include the
outcome of the pending tender offer by Ericsson for Redback shares
and the risks set forth in the Quarterly Report on Form 10-Q for
the quarter ended September 30, 2006 and Redback�s other most
recent reports on Form 10-Q and Form 8-K, and amendments thereto,
on file with the Securities and Exchange Commission (SEC), and
other reports filed with the SEC from time to time. All
forward-looking statements included in this document are based upon
information available as of the date hereof, and Redback assumes no
obligation to update these statements. Additional Information: This
announcement is neither an offer to purchase nor a solicitation of
an offer to sell securities. The tender offer is being made
pursuant to a Tender Offer Statement on Schedule TO (including the
Offer to Purchase, the related Letter of Transmittal and other
tender offer materials) filed by Telefonaktiebolaget LM Ericsson
(publ) and Maxwell Acquisition Corporation with the SEC on
December�22, 2006. In addition, on December�22, 2006, Redback filed
a Solicitation/Recommendation Statement on Schedule 14D-9 with the
SEC related to the tender offer. The Tender Offer Statement (and
related materials) and the Solicitation/Recommendation Statement
contain important information that should be read carefully before
any decision is made with respect to the tender offer. Those
materials may be obtained at no charge upon request to MacKenzie
Partners, Inc., the information agent for the tender offer, at 105
Madison Avenue, New York, New York 10016, or by calling toll free
at (800)�322-2885. In addition, all of those materials (and all
other offer documents filed with the SEC) are available at no
charge on the SEC�s website at www.sec.gov.
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