NMS Communications Corporation Announces Preliminary Results for the Second Quarter Ended June 30, 2008
10 Julio 2008 - 3:10PM
Business Wire
NMS Communications Corporation (NASDAQ: NMSS), a leading provider
of applications and platforms for value-added services in mobile
telecommunications today announced preliminary results for the
second quarter of fiscal year 2008 ended June 30, 2008. NMS
Communications Corporation currently expects to report total
revenue in the range of $16.7 to $17.1 million, and GAAP net loss
per share in the range of $(0.17) to $(0.18) for the quarter ended
June 30, 2008. Non-GAAP net loss per share is expected to be in the
range of $(0.13) to $(0.14). Our expected GAAP and non-GAAP results
include approximately $1.0 million, or $(0.02) per share, in
estimated restructuring charges associated with real estate
consolidation. Expected non-GAAP results exclude approximately $2.0
million of amortization of intangible assets and stock-based
compensation expense. Second quarter preliminary results are
subject to change based on the completion of the Company�s normal
quarter-end review process. �Our NMS Communications business
continued to experience weakness in the Asia Pacific region due to
a challenging deployment environment and this impacted our revenue
in the second quarter. Our North America and EMEA operations
delivered results that were in-line with our expectations, and
overall the NMS Communications business was still able to deliver
solid contribution margins. We expect the revenue from our NMS
Communications business to increase in the second half of the year,
as compared to the first half, based on customers� forecasts and
recent new design wins,� said Bob Schechter, NMS Communications
Corporation Chairman and CEO. �During the second quarter, our
LiveWire Mobile business experienced revenue recognition delays in
the capex portion of its business. As we have previously discussed,
LiveWire Mobile�s capex business has a level of near term
variability associated with it which can impact quarterly
performance. Several of these deals have already been realized in
the third quarter and we expect LiveWire Mobile�s revenue to grow
significantly in the second half of the year, as compared to the
first half. �Strategically, we continue to believe the best way to
realize value for our shareholders is through the separation of our
two businesses and we are currently exploring our options to do so
in the most effective way,� Schechter concluded. Guidance The
Company continues to expect LiveWire Mobile to exit 2008 with a
revenue run rate in excess of $30 million, while it currently
expects the NMS Communications business to see modest revenue
growth in the second half of 2008 over the first half of 2008. We
currently expect the overall Company to deliver break-even to
modest non-GAAP profitability in the second half of the year. The
Company continues to expect LiveWire Mobile to reach positive
contribution margin on a non-GAAP basis in the fourth quarter of
2008. NMS Communications Corporation will release its full second
quarter 2008 financial results on July 31, 2008. At that time, the
Company will discuss its quarterly performance. A conference call
will be held at 5:00 pm Eastern time on the same day. Instructions
for accessing this call will be issued in a separate press release
to follow. Second Quarter 2008 Preliminary Conference Call Web Cast
NMS Communications will host a conference call and webcast to
discuss the details of the preliminary second quarter 2008 earnings
results on July 11, 2008 at 8:00 am E.T. To access this call, dial
719-325-4866. NMS Communications Corporation issues web casts for
its conference calls to assure the broad dissemination of
information in real time. The NMS Communications second quarter
2008 preliminary results conference call, which is scheduled for
8:00 a.m. E.T., July 11, 2008, will be available live via the
Internet by accessing the NMS web site at http://www.nmss.com under
the Investor Relations section. Please go to the web site at least
fifteen minutes prior to the call to register, download and install
any necessary audio software. The webcast is also being distributed
using CCBN's Investor Distribution Network to both institutional
investors at StreetEvents (www.streetevents.com) and individual
investors at www.companyboardroom.com. A replay will be available
on the website at http://ir.nmscommunications.com/events.cfm, or
you may listen to the replay by calling 719-457-0820 and entering
the passcode 4815091. The replay will be available from 11:00 a.m.
E.T., July 11, 2008 until Midnight, July 17, 2008. About NMS
Communications Corporation NMS Communications Corporation
(NASDAQ:NMSS) is a leading provider of applications, platforms and
technologies that make possible the rapid creation and deployment
of a broad range of value-added services, from voice mail to IVR to
ringback and mobile TV. Visit www.nmss.com for more information.
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995,
including forward-looking statements about our expected future
financial and operating performance and demand for and performance
of our products and growth opportunities. These statements are
based on management's expectations as of the date of this document
and are subject to uncertainty and changes in circumstances. Actual
results may differ materially from these expectations due to risks
and uncertainties including, but not limited to, difficulty in
integrating Groove Mobile�s operations with the Company�s LiveWire
Mobile division, uncertainty in communications spending, the
implementation of the Company's strategic repositioning and market
acceptance of the Company's managed services strategy, quarterly
fluctuations in financial results, the Company's ability to exploit
fully the value of its technology and its strategic partnerships
and alliances, the availability of products from the Company's
contract manufacturer and product component vendors and other
risks. These and other risks are detailed from time to time in the
Company's filings with the Securities and Exchange Commission,
including the Company's annual report on Form 10-K for the year
ended December 31, 2007. In addition, while management may elect to
update forward-looking statements at some point in the future,
management specifically disclaims any obligation to do so, even if
its estimates change. Any reference to our website in this press
release is not intended to incorporate the contents thereof into
this press release or any other public announcement. Use of
Non-GAAP Financial Measures In addition to reporting its financial
results in accordance with generally accepted accounting
principles, or GAAP, the Company has also provided in this release
non-GAAP income (loss) from continuing operations, non-GAAP net
income (loss) and non-GAAP earnings (loss) per share figures, which
are non-GAAP financial measures adjusted to exclude certain
non-cash and other specified expenses. The Company believes the use
of non-GAAP measures in addition to GAAP measures is an additional
useful method of evaluating it results of operations. Management
uses these non-GAAP financial measures when evaluating the
Company's financial results, as well as for internal planning and
forecasting purposes. Specifically, the Company has excluded
stock-based compensation, the other-than-temporary impairment of
Verso common stock and amortization of intangible assets from its
non-GAAP financial measures. The non-GAAP financial measures
disclosed by the Company should not be considered a substitute for,
or superior to, financial measures calculated in accordance with
GAAP, and the expected results calculated in accordance with GAAP
and reconciliations to those expected results should be carefully
evaluated. The non-GAAP financial measures used by the Company may
be calculated differently from, and therefore may not be comparable
to, similarly titled measures used by other companies. NMS
Communications, LiveWire Mobile, OpenAccess and MyCaller are
trademarks of NMS Communications Corporation. All other brand or
product names may be trademarks or registered trademarks of their
respective holders.
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