AURORA, Ill.--(Business Wire)--
Westell Technologies, Inc. (NASDAQ: WSTL), a leading provider of
broadband products, gateways and conferencing services, today updated
information included in its fiscal first quarter earnings release
issued on July 23, 2008.
July 23, 2008 Press Release
(http://www.westell.com/news-2008/westell-technologies-reports-fiscal-
first-quarter-2009-results.html) (Due to its length, this URL may need
to be copied/pasted into your Internet browser's address field. Remove
the extra space if one exists.)
In the 1st Quarter Highlights and the second paragraph of the
fiscal first quarter earnings press release the Company referenced
orders from Verizon and another fiber-based service provider for its
UltraLine Series3 gateway product. Upon further review, the Company
received orders in the quarter worth over $14 million, versus the
previously stated $20 million from the original release.
The $20 million of orders referenced in the original release
actually referred to the sales value of orders the Company had placed
with its outsourced manufacturer for the products. The Company buys
products ahead of actual orders from its customers in order to meet
anticipated demand. Westell commenced shipping of this product to
Verizon today.
The update pertains to the aforementioned press release statement
only and does not affect the Company's financial statements for the
fiscal first quarter or its published guidance for the quarter ending
September 30, 2008.
About Westell
Westell Technologies, Inc., headquartered in Aurora, Illinois, is
a holding company for Westell, Inc. and ConferencePlus, Inc. Westell,
Inc. designs and develops broadband telecommunications access
products. ConferencePlus, Inc. is a collaborative Application Service
Provider that manages and hosts voice, video, IP applications and
back-office services. Additional information can be obtained by
visiting Westell's Web site at www.westell.com.
"Safe Harbor" statement under the Private Securities Litigation
Reform Act 1995:
Certain statements contained herein that are not historical facts
or that contain the words "believe", "expect", "intend", "anticipate",
"estimate", "may", "will", "should", or derivatives thereof and other
words of similar meanings are forward-looking statements that involve
risks and uncertainties. Actual results may differ materially from
those expressed in or implied by such forward-looking statements.
Factors that could cause actual results to differ materially include,
but are not limited to, product demand and market acceptance risks,
need for financing, an economic downturn in the U.S. economy and
telecom market, the impact of competitive products or technologies,
competitive pricing pressures, new product development, excess and
obsolete inventory, commercialization and technological delays or
difficulties (including delays or difficulties in developing,
producing, testing and selling new products and technologies), the
effect of Westell's accounting policies, the need for additional
capital, the effect of economic conditions and trade, legal social and
economic risks (such as import, licensing and trade restrictions) and
other risks more fully described in the Company's Form 10-K for the
fiscal year ended March 31, 2008 under the section Risk Factors. The
Company undertakes no obligation to publicly update these
forward-looking statements to reflect current events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events or otherwise.
Investors / Trade / Media
Patrick Van de Wille
FD Ashton Partners
312.553.6704
patrick.vandewille@fdashtonpartners.com
Copyright Business Wire 2008
