Tut Systems, Inc. Announces Preliminary Second Quarter 2006 Results
27 Juli 2006 - 11:30PM
PR Newswire (US)
Final Q2 2006 Results To Be Released on August 10, 2006, Followed
By A Conference Call On August 11, 2006 LAKE OSWEGO, Ore., July 27
/PRNewswire-FirstCall/ -- Tut Systems, Inc. (NASDAQ:TUTS), today
announced its preliminary second quarter results for 2006.
Preliminary revenue for the quarter ended June 30, 2006, is $8.1
million compared with revenue of $9.7 million for the quarter ended
June 30, 2005. This represents a decrease in revenue of 16.3% when
compared with the second quarter of 2005, and a 29.7% decrease when
compared with first quarter 2006 revenue of $11.5 million.
Preliminary revenue for the six months ended June 30, 2006 is $19.6
million compared with revenues of $16.7 million for the six months
ended June 30, 2005. This represents a year-over-year increase in
revenues of 17.3%. Preliminary gross profit for the quarter ended
June 30, 2006, is $2.4 million, a decrease of 31.2% compared with
gross profit of $3.5 million for the quarter ended June 30, 2005.
Included in gross profit was a charge for amortization of
intangibles of $0.4 million for each of the quarters ended June 30,
2006 and 2005. Preliminary gross profit for the six months ended
June 30, 2006, is $6.3 million compared with $6.0 million for the
six months ended June 30, 2005. Preliminary operating expenses,
including a $0.4 million restructuring charge, are $7.1 million for
the quarter ended June 30, 2006. This compares with operating
expenses of $7.9 million for the three months ended June 30, 2005.
Including a $0.4 million restructuring charge, preliminary
operating expenses for the six months ended June 30, 2006, are
$14.2 million compared with $13.7 million for the six months ended
June 30, 2005. Preliminary net loss for the three months ended June
30, 2006, is $(4.6) million or $(0.14) per basic and diluted share.
This compares with the net loss for the three months ended June 30,
2005, of $(4.5) million or $(0.17) per basic and diluted share.
Preliminary net loss for the six months ended June 30, 2006 is
$(7.8) million or $(0.23) per basic and diluted share compared with
$(7.8) million or $(0.31) per basic and diluted share for the six
months ended June 30, 2005. Second Quarter 2006 Conference Call
Information and Earnings Release Tut Systems will host a conference
call on August 11, 2006 beginning at 5:30 am Pacific Time to
discuss its second quarter operating results, balance sheet, cash
flows and current business activities. Participants of the
conference call should dial in at least five minutes before the
start time. Conference ID # 3722804 U.S. and Canada dial (877)
356-8058 International participants dial (706) 634-2465 Online at
http://www.tutsys.com/ A replay will be available two hours after
the call ends for one week. Dial (800) 642-1687 or (706) 645-9291
and enter the conference ID number. A replay will also be available
at http://www.tutsys.com/. A Press Release will be available by
2:00 p.m. Pacific Time, August 10th, at http://www.tutsys.com/ and
on PR Newswire. Forward-Looking Statements Safe Harbor Statement
under the U.S. Private Securities Litigation Reform Act of 1995:
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Specifically, without limitation, forward-looking statements
include statements relating to our anticipation of revenue, gross
profit, operating expenses and net loss. Forward-looking statements
are based on management's current expectations and beliefs, and are
subject to risks and uncertainties. As a result, actual results may
differ materially from the forward-looking statements contained
herein. Risks that relate to these forward-looking statements
include the risks inherent in new and developing technologies and
markets, the risk that competitors will introduce rival
technologies and products, and the risk that the expected financial
benefits of the IPTV deployment will not be achieved as a result of
unforeseen costs or events. Further detailed information about risk
factors that may impact our business is set forth in our periodic
filings with the Securities and Exchange Commission. We expressly
disclaim any obligation to update or alter our forward-looking
statements, whether as a result of new information, future events
or otherwise. About Tut Systems, Inc. Tut Systems, Inc. delivers
advanced content processing and distribution products as well as
comprehensive system integration services for deploying
next-generation data and video services over broadband networks.
Service providers, content providers and government agencies
worldwide use Tut Systems solutions to deliver broadcast-quality
video over broadband networks. Tut Systems is headquartered in Lake
Oswego, OR with regional offices across North America, Europe and
Asia. For more information visit http://www.tutsys.com/ or call
(971) 217-0400. DATASOURCE: Tut Systems, Inc. CONTACT: Scott
Spangenberg, Investor Relations, or Keith Wymbs, Public Relations,
both of Tut Systems, Inc., +1-971-217-0400, or Web site:
http://www.tutsys.com/
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