Atlanta, GA – February 8, 2001 – T/R SYSTEMS, INC. (NASDAQ: TRSI), a leader in developing innovative solutions for the management and production of digital communications, reported today that it anticipates lower than expected revenue in its fiscal fourth quarter ended January 31, 2001, and in the next fiscal year.
T/R Systems announced that revenue for the quarter just ended is expected to be between $6.8 million and $7.2 million, an increase of 3 to 9 percent over the same quarter last year. On an annual basis, revenue is expected to be between $32.0 million and $32.4 million, an increase of 43 to 45 percent over $22.3 million last year. Despite the lower than expected revenue, recognition of certain tax benefits, including the balance of the company’s net operating loss carry forward, will cause diluted earnings per share for the fourth quarter to be from $0.13 to $0.16, up from $0.03 in the same quarter last year. Diluted earnings per share for the year are expected to be from $0.48 to $0.51, up from $0.07 last year. The company believes that all of its net income in the fourth quarter will be the result of the recognition of the tax benefits.
Additionally, due primarily to the slowing economy, the company expects growth for the first quarter of the new fiscal year to be roughly 20 percent over the comparable quarter last year. Beyond the first quarter, the company currently expects sequential growth for the balance of the fiscal year ending January 31, 2002.
“We have noted recently, like so many other technology companies, far more caution in the buying patterns of our resellers and OEM partners,” said Mike Kohlsdorf, President and CEO of T/R Systems. “Our fundamental business remains unchanged as we continue to focus on producing quality solutions for digital communications, expanding our distribution worldwide, and providing the highest levels of customer support.”
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