Sunrise Telecom Reschedules Fourth Quarter 2004 Earnings Release and Conference Call to February 9, 2005
Sunrise Telecom Reschedules Fourth Quarter 2004 Earnings Release and Conference Call to February 9, 2005
Sales Anticipated to Be at the High End of the Previously Announced Range of $18 to $20 Million
SAN JOSE, Calif., Jan. 25 /PRNewswire-FirstCall/ -- Sunrise Telecom Incorporated (NASDAQ:SRTI) today announced that the release of its financial results for the fourth quarter ended December 31, 2004 has been rescheduled from Tuesday, February 1, 2005 to Wednesday, February 9, 2005. The change in scheduling allows the Company and its auditors more time to complete the quarter and year-end financial review. The closing process for the quarter and year ended December 31, 2004 has taken longer than expected due to additional procedures required under Section 404 of the Sarbanes Oxley Act of 2002 as well as Company personnel changes. As previously announced, the former Corporate Controller and Chief Accounting Officer, Scott Green, resigned effective December 3, 2004. The Company hired Lawrence Stritch as Corporate Controller on December 1, 2004. Mr. Stritch is a licensed CPA with over twenty years of senior-level experience in financial organizations of both publicly traded and privately held technology companies, including positions as a Corporate Controller and a CFO.
Management reiterated the preliminary financial results provided on January 6, 2005, adding that it expected sales for the fourth quarter 2004 to be at the upper end of the previously announced $18 - $20 million range. Management also added that expenses are expected to be generally in line with expectations based on recent quarters' performance.
Quarterly Conference Call Information
Sunrise Telecom will hold its fourth quarter 2004 earnings conference call on Wednesday, February 9, 2005 at 1:30 p.m. (PST) / 4:30 p.m. (EST). To listen to the call and have the opportunity to ask questions, please dial 800-915-4836 at least 5 minutes prior to the start. This call is also being Web cast and can be accessed for listening only at the Investor Relations section of the Sunrise Telecom Web site at www.sunrisetelecom.com, by clicking on Company then Investors/Governance. An online playback of the Web cast will be available on the company's Web site following the call.
About Sunrise Telecom Incorporated
Sunrise Telecom manufactures and markets service verification equipment to pre-qualify, verify, and diagnose telecommunications, cable broadband, and Internet networks. For more information, visit the company's website at www.sunrisetelecom.com.
Forward-Looking Statements
This press release contains forward-looking statements, including sales estimates and expectations for expenses for the fourth quarter of 2004, within the meaning of Section 21 E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made pursuant to safe harbor provisions and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Specific factors that may cause results to differ include the following: deferred or lost sales resulting from order cancellations or order changes; deferred or lost sales resulting from Sunrise Telecom's lengthy sales cycle; unanticipated difficulties associated with international operations; deferred sales resulting from the application of revenue recognition requirements, unexpected adjustments to preliminary accounting figures, and unanticipated delays in product delivery schedules. These risks and uncertainties are described in more detail in Sunrise Telecom's reports filed with the Securities and Exchange Commission, including, but not limited to, its Form 10-K for the year ended December 31, 2003 and its Form 10-Q for the quarter ended September 30, 2004. Sunrise Telecom assumes no obligation to update the forward-looking statements included in this press release.
Source: Sunrise Telecom Incorporated
CONTACT: Kate Sidorovich, Investor Relations of Sunrise Telecom
Incorporated, +1-408-360-1219, or ksidorovich@sunrisetelecom.com
Web site: http://www.sunrisetelecom.com/
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