PITTSBURGH, June 21 /PRNewswire-FirstCall/ -- Tollgrade Communications,
Inc. (Nasdaq: TLGD) today announced that it currently expects that its
revenue and earnings for the second quarter ending June 30, 2007, will be
near the low end of the range of estimates provided by the Company on April
25, 2007. Those estimates indicated that revenue could range from $15
million to $19 million for the second quarter, with earnings per share
ranging from $0.07 to $0.19. This is primarily caused by certain
international project implementation issues, which are delaying the receipt
by the Company of customer acceptances for such project during the current
quarter.
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"As we discussed in our first quarter, 2007 earnings release, our
expected revenue and earnings ranges for the second quarter, 2007 are
largely dependent upon project deployment and the rate of site-by-site
customer acceptances for one of our large international projects," said
Mark B. Peterson, Tollgrade's Chief Executive Officer. "We continue to
experience implementation delays with that project, which are, in certain
instances, caused by third party elements to the project. We continue to
expect that these delays will be resolved during the second half of the
year, and that this project will contribute to our performance as expected
during the remainder of this year," added Peterson.
About Tollgrade
Tollgrade Communications, Inc. is a full-system provider of leading
hardware and software testing solutions for the global telecommunications
and cable broadband industries. Tollgrade designs, engineers, markets and
supports test systems, test access and status monitoring products. The
Company, which is headquartered in the Pittsburgh suburb of Cheswick, Pa.,
recorded 2006 revenues of $65.4 million. The Company's web address is
http://www.tollgrade.com.
Forward Looking Statements
The foregoing release contains "forward looking statements" regarding
future events or results within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, including statements concerning the
Company's current expectations regarding revenue and earnings results for
the second quarter of 2007 and the full year 2007 and its ability to
resolve timing and implementation issues in one of its large international
projects. The Company cautions readers that such "forward looking
statements" are, in fact, predictions that are subject to risks and
uncertainties and that actual events or results may differ materially from
those anticipated events or results expressed or implied by such forward
looking statements. The Company disclaims any current intention to update
its "forward looking statements," and the estimates and assumptions within
them, at any time or for any reason.
In particular, the following factors, among others could cause actual
results to differ materially from those described in the "forward looking
statements:" (a) inability to complete sales, or possible delays in
deployment, of products under international projects due to inability to
complete or possible delays in completing the legal and commercial terms
for such projects, including the failure to receive and delays in receiving
purchase orders for such projects, project delays or cancellations,
political instability, inability to obtain proper acceptances or other
unforeseen obstacles or delays; (b) inability to complete or possible
delays in completing certain research and development efforts required for
international projects; (c) our dependence upon a limited number of third
party subcontractors and component suppliers to manufacture or supply
certain aspects of the products we sell; and (d) the uncertain economic and
political climate in certain parts of the world where we conduct business
and the potential that such climate may deteriorate. Other factors that
could cause actual events or results to differ materially from those
contained in the "forward looking statements" are included in the Company's
filings with the U.S. Securities and Exchange Commission (the "SEC")
including, but not limited to, the Company's Form 10-K for the year ended
December 31, 2006 and any subsequently filed reports. All documents are
also available through the SEC's Electronic Data Gathering Analysis and
Retrieval system at http://www.sec.gov or from the Company's website at
http://www.tollgrade.com.
SOURCE Tollgrade Communications, Inc.
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Related links:
http://www.tollgrade.com/
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CONTACT:
Bob Butter of Tollgrade Communications, Inc.,
+1-412-820-1347, cell, +1-412-736-6186, bbutter@tollgrade.com
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