LeCroy Anticipates Strong First-Quarter Growth in Line With
Guidance in Advance of SG Cowen Conference Presentation
Presentation to be Broadcast Live over the Internet Today, September 8 at 3:00
p.m. (ET)
CHESTNUT RIDGE, N.Y., Sept. 8 /PRNewswire-FirstCall/ -- LeCroy Corporation
(NASDAQ:LCRY), a leading supplier of oscilloscopes and serial data test
solutions, announced that it anticipates that its first-quarter fiscal 2005
financial results will be in line with its guidance provided on August 4, 2004. At that time, the company said it expected revenues to increase on a
year-over-year basis by 15 percent to a range of $31 to $32 million and
operating income to increase by 35 to 50 percent, bringing operating income to
approximately $2.7 to $3.0 million.
"We expect continued strong top-line growth with improved margins and
profitability in the first quarter of fiscal 2005," stated LeCroy President and
CEO Tom Reslewic. "Our ability to generate innovative products and our sharp
focus on operational efficiencies continue to drive our excellent financial
performance. During our presentation at the SG Cowen Fall Technology
Conference, we will discuss LeCroy's strategy to capture an increasing share of
the serial data test market." "Last week we announced a key step in this strategy -- our agreement to acquire
Computer Access Technology Corporation (CATC), which we believe will enable us
to better capitalize on the surging demand for serial data test instruments.
LeCroy and CATC each supply test solutions for advanced and emerging serial
data protocols, yet the companies are complementary in terms of products,
markets and geographic footprint. In addition to the strategic nature of the
acquisition, we believe this will help us to accomplish two key financial
objectives: driving superior sustainable growth and generating significant
cash from operations," concluded Reslewic.
The company will present at SG Cowen's 32nd Annual Fall Technology Conference
being held on Wednesday, September 8 at 3:00 p.m. (ET) at The Boston Marriott
Copley Place in Boston, Massachusetts. In attendance will be LeCroy President
and Chief Executive Officer Tom Reslewic and Vice President, Finance & Chief
Financial Officer Scott Kantor. To access a live Webcast of the presentation
on September 8, 2004, visit the "Investor Relations" portion of the "About
LeCroy" section at http://www.lecroy.com/ at least 15 minutes prior to the
event broadcast.
Safe Harbor This release contains forward-looking statements, including those pertaining to
LeCroy's intent to purchase Computer Access Technology Corporation, its ability
to capitalize on the surging demand for serial data test instruments, its
expected financial results expectations for the first quarter of fiscal 2005,
and its ability to drive superior sustainable growth and generate significant
cash from operations. All such forward-looking statements are only estimates
of future results, and there can be no assurance that actual results will not
materially differ from expectations. Actual performance and results of
operations may differ materially from those projected or suggested in the
forward-looking statements due to certain risks and uncertainties including,
without limitation, volume and timing of orders received, changes in the mix of
products sold, competitive pricing pressure, LeCroy's ability to anticipate
changes in the market, the availability and timing of funding for LeCroy's
current products, the development of future products and LeCroy's ability to
use intellectual property and protect their patent portfolios. LeCroy
undertakes no obligation to publicly update forward-looking statements, whether
because of new information, future events or otherwise. Further information on
potential factors that could affect LeCroy Corporation's business or cause
actual results to differ materially are described in LeCroy's reports on file
with the SEC, including its Annual Report on Form 10-K, filed with the
Securities and Exchange Commission on September 7, 2004, and subsequent filings
which LeCroy may make with the SEC, which can be viewed at the SEC's website at
http://www.sec.gov/.
About LeCroy LeCroy Corporation is a worldwide leader in serial data solutions, creating
advanced instruments that drive product innovation by quickly measuring,
analyzing and verifying complex electronic signals. The Company's core products
are high-performance oscilloscopes and Serial Data Analyzers (SDAs) used by
design engineers in the computer and semiconductor, data storage device,
automotive and industrial, and military and aerospace markets. LeCroy's 40-year
heritage of technical innovation is the foundation for its recognized
leadership in "WaveShape Analysis" -- capturing, viewing and measuring the
high-speed signals that drive today's information and communications
technologies. Targeting a growing billion-dollar global market, LeCroy meets a
broad spectrum of customer needs with four product families distributed
primarily through a worldwide direct sales organization. LeCroy is
headquartered in Chestnut Ridge, New York. Company information is available at
http://www.lecroy.com/.
Contact:
Scott Kantor
Vice President, Finance &
Chief Financial Officer
LeCroy Corporation
Tel: 845-425-2000
DATASOURCE: LeCroy Corporation CONTACT: Scott Kantor, Vice President, Finance & Chief Financial Officer of LeCroy Corporation, +1-845-425-2000 Web site: http://www.lecroy.com/ Company News On-Call: http://www.prnewswire.com/comp/112071.html
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