$101M Yearly Revenues; 127% Growth over last year;
$10M Net Income for Year 2000 versus Loss of $(3.6)M in 1999;
EPS of $0.12 for Q4 2000 versus Loss of $(0.07) in Q4 1999
TEL AVIV, Israel & CARLSBAD, Calif., January 31, 2001 – BreezeCOM Ltd. (NASDAQ: BRZE), a leading developer and manufacturer of broadband wireless access products, today announced results for the fourth quarter and the year 2000. The yearly results reflect 127% revenue growth, compared with 1999 revenues.
Revenues for the fourth quarter which ended December 31, 2000 were $32.4 million, a 154% increase over $12.7 million reported in the fourth quarter of 1999, and a 12% increase over third quarter 2000 revenues of $29 million. Net operating income in the fourth quarter 2000 was $1.3 million, compared with an operating loss of $(629,000) in the same period of 1999. The Company reported net income for the fourth quarter 2000 of $3.9 million, or $0.12 per diluted share, compared with a net loss of $(765,000), or $(0.07) net loss per share, in the same period last year.
Revenues for the year 2000 were $101 million, a 127 % increase over revenues of $44.8 million for the same period in 1999. Net operating income for the year 2000 was $3 million, compared to a net operating loss of $(2.6) million in 1999. Net income for the year 2000 was $10 million, or $0.33 per diluted share, compared with a net loss of $(3.6) million, or $(0.32) net loss per share, in the same period last year.
In announcing the results, Zvi Slonimsky, President and CEO of BreezeCOM, said, “Year 2000 was exceptional for BreezeCOM. We became profitable, more than doubled our revenues and demonstrated solid quarter over quarter growth. Furthermore, we exceeded all of our strategic targets. Our fourth quarter results reflect the continued high demand from service providers and private networks.”
“We are the global leader of the sub-11 GHz broadband wireless access market, which has received conclusive recognition as a vital element of the telecommunications industry. Thousands of subscribers are receiving data and telephony services using BreezeCOM’s network solutions.”
“In the year 2000, we also made major inroads into the licensed 3.5GHz carrier market internationally and the unlicensed service provider market in the United States,” Mr. Slonimsky added. “We substantially increased our penetration into Latin America and Asia Pacific and believe this growth will position us for continued success in 2001. We introduced a variety of new products, including: BreezeACCESS MMDS in the U.S., Canada and Latin America; BreezeACCESS II, a carrier-class line for unlicensed applications worldwide; additional product lines in the 3.5 GHz licensed band; and an enhanced DS.11 Outdoor Bridge for the enterprise market.”
Mr. Slonimsky will discuss the Company’s earnings results and other news discussed herein in a group conference call Wednesday, January 31, 2001 at 9:00 a.m. EST. The call can be heard live as a webcast on www.streetevents.com and www.breezecom.com. A replay will also be available beginning 11:00 am. EST, January 31, 2001, through February 2, 2001 at 11:59 p.m., by dialing 1-888-266-2081 (Domestic), 1-703-925-2533 (International), Replay ID Code 4908026.
BreezeCOM is the leading provider of Broadband Wireless Access (BWA) solutions used by service providers and enterprises. Its products provide a wireless alternative to wired access solutions, such as DSL and cable modems, and facilitate indoor and outdoor, as well as fixed and mobile wireless LAN connectivity. BreezeCOM products are based on a packet switching point-to-multipoint wireless platform, optimized for high-speed Internet and intranet access. Core technologies include spread spectrum radio, digital signal processing, modems, networking protocols and VLSI.
For Quarterly Report, please select: Q4 2000 Financial Report.
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