NICE SCALES DOWN ITS 4th-QUARTER EXPECTATIONS AMID SLOWDOWN
NICE Systems, a worldwide supplier of multimedia digital recording solutions, applications and related professional services for business interaction management, announces that fourth-quarter 2000 revenues will be below market expectations. Revenues in the fourth quarter are expected to be approximately $39 million to $40 million. As a result, the company expects to report a net loss of up to 6 cents per share on a diluted basis, excluding charges related to the previously announced acquisition of certain assets of Stevens Communications Inc.
“Like many other companies, we are seeing weakness in the telecommunications and IT sectors of the market,” says Benny Levin, chairman and CEO. “It now appears that a number of our blue-chip customers will postpone orders, which were expected to close in the quarter, due to internal budget considerations. We are obviously disappointed with the impact of this slowdown on our Q4 results. However, we remain vigorously confident in our long-term growth opportunities.” NICE plans to report final results for the fourth quarter and fiscal year 2000 on Feb. 21.
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