ADVANCED ELECTRONIC SUPPORT PRODUCTS, INC.
PROVIDES GUIDANCE ON THIRD QUARTER REVENUES
Miami,
Florida, September 28, 2001 -Advanced
Electronic Support Products, Inc. (NASDAQ: AESP and AESPW), today provided a near-term
revenue outlook for the third quarter ending September 30, 2001. The Company expects its revenues to be in the
range of $6.0 to $6.6 million, compared to revenues of $7.8 million for the same period in
2000. The Company also stated that it expects to report a net loss for the 2001 third
quarter of between $500,000 and $700,000, although the amount of the loss cannot yet be
determined with accuracy.
Slav Stein, the Company’s
President, stated: “We continue to
experience slower sales due to the worldwide economic slowdown especially in the IT and
Telecommunications industries. This sales
decline we believe does not represent the loss of customers, but a dramatic slowdown of
our customers’ sales to their customers. The Company expects its revenues and profits
will most likely continue to be impacted for the discernable future by these factors. Besides re-doubling our efforts towards
increasing our sales, we are taking actions
to reduce our headcount and reduce expenses. At
the same time, we will continue our efforts to build the Company through strategic
acquisitions.”
Advanced Electronic Support Products, Inc. designs,
manufactures, markets and distributes network connectivity products under the brand name
Signamax Connectivity Systems as well as customized solutions for original equipment
manufacturers worldwide. The Company offers a complete line of active networking and
premise cabling products for copper and fiber optic based networks, as well as computer
connectivity products.
Safe Harbor Disclosure
under the 1995 Securities Litigation Reform Act.
This news release contains forward-looking statements, which involve risks and uncertainties. The Company’s actual future results could differ materially from the results anticipated herein. For information regarding factors that could impact the Company’s future performance, see the Company’s future filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-KSB for 2000.
Signamax
is a trademark of Advanced Electronic Support Products, Inc. in the United States and/or
other countries.
For
further information, please contact:
Slav Stein, President and CEO
Roman Briskin, Executive Vice President
Roy D. Rafalco, Chief Financial Officer
Advanced Electronic Support Products, Inc.
1810 N.E. 144th Street
North Miami, Florida 33181
305-944-7710