SANTA CLARA, Calif., April 12 /PRNewswire/ -- FVC.COM (Nasdaq: FVCX), the
leader in broadband two-way video networking, today announced that revenue for
the first quarter ended March 31, 2000 is expected to be approximately
$10.1 million. In the comparable quarter of 1999, the Company reported
revenue of $8.4 million. Although customer orders in the first quarter of
2000 were consistent with the Company's expectations, many of the orders were
received very late in March and were unable to be fulfilled during the
quarter. Net loss for the quarter is expected to be in the $0.23 to $0.26 per
share range.
"During the quarter we dramatically increased the business focus on our
revolutionary Click to Meet (TM) two-way video service offering, and have seen
the first significant success in this area with the announcement of our
relationship with Qwest in February," said Richard Beyer, president and CEO of
FVC.COM. "Click to Meet is the key to the long-term success of our company,
and we are confident that our heavy investment in this market will result in a
large number of additional service providers signing up for our offering
during the remainder of the year."
These preliminary results are subject to change. The Company's financial
results for the first quarter will be announced on Tuesday, April 25th.
About FVC.COM
FVC.COM (Nasdaq: FVCX) is the world leader in broadband video networking,
providing services and systems to enable service providers to deliver two-way
video to their customers. FVC.COM's Click to Meet(TM) is the industry's first
video services solution for high quality, two-way video calls and conferences
over the broadband Internet using a web-based video portal. Click to Meet
provides the optimal platform to video-enable a new generation of B2B, B2C and
C2C web applications.
FVC.COM's strategic partners include Accord, Alcatel, Ameritech, Bell
Atlantic, British Telecommunications plc, Cisco Systems, Inc., EDS, Ezenia!,
France Telecom, Nortel Networks, Polycom, Qwest Communications, Shanghai
Telecom, Telstra, White Pine Software and other leading companies worldwide.
Further information about the company is available at http://www.fvc.com .
Cautionary Statement
Except for the historical information contained herein, this news release
contains forward-looking statements, including, without limitation, statements
containing the words, "believes," "anticipates," "expects" and words of
similar import. Such forward-looking statements have known and unknown risks,
uncertainties and other factors that may cause the actual results, performance
or achievements of FVC.COM, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. Such factors include, among others: the
ability of FVC.COM to negotiate a definitive agreement with Qwest, FVC.COM's
limited operating history and variability of operating results, market
acceptance of video technology, dependence on ATM backbone technology,
potential inability to maintain business relationships with distributors,
suppliers, telecommunications carriers, rapid technological changes,
competition in the video networking industry, the importance of attracting and
retaining personnel, management of FVC.COM's growth, consolidation and cost
pressures in the video networking industry, and other risk factors referenced
in FVC.COM's public filings with the Securities and Exchange Commission,
including the company's report on Form-10 K for the fiscal year ended
December 31, 1999.
SOURCE FVC.COM
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Related links:
http://www.fvc.com
CONTACT:
Truman Cole, Chief Financial Officer of
FVC.COM, 408-567-7229, or General, Don Markley, or Analysts and
Media, Chris Wood, 415-986-1591, both of The Financial Relations
Board
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