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  • NEI (NEI) Revises Outlook for First Fiscal Quarter with Higher than Expected Revenues and Income 0 comments
    Jan 9, 2012 1:54 PM | about stocks: NEI

    NEI, a leading provider of server-based application platforms, deployment solutions and lifecycle support services for software technology developers and OEMs worldwide, recently announced revised and improved expectations for the first fiscal quarter period ending December 31, 2011. Net revenues are expected to be $68 million to $70 million instead of $58 million to $63 million as originally provided in November. Net income should be around $1.3 million to $1.6 million, significantly higher than previous guidance of $500,000 to $1.0 million.

    “In providing our December quarter guidance, we expected an impact of between $4.0 million and $5.0 million of revenues related to the unavailability of hard disk drives due to supply constraints tied to the Thailand flooding. Based on the extraordinary efforts of our supply chain team and our vendors, we were able to secure drives needed to realize most of these revenues. Additionally, some of our customers exceeded the volume estimates that we had projected for the December quarter, resulting in higher revenues. Our review of the quarter’s financial results is ongoing, and we will provide more detail on our conference call at the end of January,” said Greg Shortell, President and CEO, NEI in a press statement.

    NEI, founded in 1997, provides solutions to companies looking to lessen the burden of all the complex and costly mix of technologies needed to keep pace in the fast moving world of telecommunications. It provides customers with design and engineering services that meet stringent industry and international compliance regulations. NEI systems can support customers who sell hundreds to thousands of platforms each year.

    NEI expects to announce its fiscal results around the end of January as well as hold a management conference call to provide details regarding the company’s operating performance and financial outlook for the second fiscal quarter of 2012.

    For more information, please visit www.nei.com

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
     

    Stocks: NEI
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