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Xeta Technologies Reports Preliminary 2008 4Q and Fiscal Year End Results
(Wireless News Via Acquire Media NewsEdge)
Xeta Technologies, a national provider of communications solutions for
the enterprise marketplace, announced preliminary results for the
fourth quarter and fiscal year ended October 31.
Xeta noted in its report that it estimates total revenue for the fourth
quarter of 2008 was between $22 million and $23 million, an increase of
15 percent to 18 percent when compared to the fourth quarter of 2007.
The Company estimates that earnings per share for the fourth quarter of
fiscal 2008 were $0.06 to $0.07 per diluted share, which was within the
range of prior guidance.
For the fiscal year ended October 31, the Company estimates total
revenue was between $84 million to $85 million, an increase of 19
percent to 21 percent over the prior year. Earnings per diluted share
for the 2008 fiscal year are estimated to be in the range of $0.19 to
$0.20.
The company added that all fourth quarter and fiscal year projected
financial results are preliminary and subject to customary annual
closing and audit procedures, including the review of goodwill and
other intangibles for possible impairment.
"We delivered strong top-line performance during the fourth quarter, in
what continues to be a challenging market. In addition to the
completion of the major project with Miami-Dade County Public Schools
System ("M-DCPS"), we saw strength in our lodging business and
continued improvement in our time and materials service business," said
Greg Forrest, CEO of Xeta Technologies. "The flat year-over-year
earnings comparison reflects continued investment in long-term growth
opportunities. These investments are allowing us to take market share,
which has clearly been demonstrated in our fourth quarter revenue
results and a 9 percent increase in fourth quarter equipment bookings
compared to a year ago."
XETA said it plans to announce final results for the fourth quarter and
fiscal year end on Wednesday, December 3, after the close of the
market. Following the December 3rd earnings release, the Company will
host a conference call and webcast at 4 p.m. Central Time. Interested
parties may access the conference call via telephone by dialing
877-407-8033.
The call is being webcast and can be accessed at XETA's website
www.xeta.com under the investor relations portion of the website. A
replay of the webcast will be archived on the Company's website for 60
days.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
((Distributed on behalf of 10Meters via M2 Communications Ltd -
http://www.m2.com))
((10Meters - http://www.10meters.com))
Copyright ? 2008 Wireless News
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