ROSH HA'AYIN, Israel, January 21 /PRNewswire-FirstCall/ -- ECtel Ltd.
(NASDAQ: ECTX), a leading global provider of Integrated Revenue ManagementTM
(IRMTM) solutions, today announced that it will be releasing its fourth
quarter and full year 2008 financial results on Tuesday, February 17, 2009.
Furthermore, the Company is issuing its preliminary financial results for the
fourth quarter and full year 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/FLTU015LOGO )
Revenues for the full year 2008 are expected to be in the range of $24.7
- 25 million compared with a formerly anticipated range of $26 - 28 million.
Revenues for the fourth quarter 2008 are expected to be in the range of $4.5
- 4.8 million, compared with the $5.8 - 7.8 million range, implicit within
the last annual guidance range. Revenues for the fourth quarter, and
subsequently the full year, were lower than earlier forecast primarily
resulting from three factors, each which negatively affected the results.
These were: the impact on the business of the stronger than originally
anticipated global financial crisis and economic downturn; the delayed
completion of a particularly large project; as well as the volatile currency
environment, in particular, the sharp changes in the British Pound and Euro
exchange rates against the US Dollar. The effect on the business of economic
downturn is primarily through a lengthening of sale cycles, though the
Company is continuing to see the same pipeline as before in sales leads.
As a result of the lower revenue levels, the Company is expecting a
non-GAAP net loss per share range for the fourth quarter of $0.17 - 0.19 and
a non-GAAP net loss per share for the year of $0.42 - 0.44.
Itzik Weinstein President & CEO commented, "While we are disappointed
with the revenue results of the fourth quarter, we remain confident in our
long-term business potential. We continue to have confidence in our strong
market position, product offering and business model given our sound,
unchanged, business fundamentals and good pipeline. With regard to our
delayed project completion, we do believe that the recognition of this
specific project will come in the next few weeks."
The Company plans to hold a teleconference to discuss its fourth quarter
and full year 2008 results on Tuesday, February 17, 2009, at 10:00 am ET
(9:00 am CT, 7:00 am PT, and 5:00 pm Israel time).
Itzik Weinstein President & CEO and Mickey Neumann, Senior Vice President
& CFO will co-host the call. To participate in the call, please dial one of
the following numbers:
From the United States: 1-866-345-5855
From Israel: 03-918-0609
From the United Kingdom: 0800-4048-418
All other international callers: +972-3-918-0609
A Webcast replay of the earnings call will be available after the call on
the Company's web site at: www.ectel.com. ECtel management looks forward to
your participation.
About ECtel Ltd.
ECtel (NASDAQ: ECTX) is a leading global provider of Integrated Revenue
Management(TM) (IRM(TM)) solutions for communications service providers. A
pioneering market leader for nearly 20 years, ECtel offers carrier-grade
solutions that enable wireline, wireless, converged and next generation
operators to fully manage their revenue and cost processes. ECtel serves
prominent Tier One operators, and has more than 100 implementations in over
50 countries worldwide. Established in 1990, ECtel maintains offices in the
Americas and Europe. For more information, visit http://www.ectel.com
Certain statements contained in this release contain forward-looking
information with respect to plans, projections or future performance and
products of the Company, the occurrence of which involves certain risks and
uncertainties, including, but not limited to, the reoccurrence of sales to
existing customers, sales to new accounts, the ability to recognize revenue
in future periods as anticipated, the possible slow-down in expenditures by
telecom operators, the unpredictability of the telecom market, product and
market acceptance risks, ability to complete development and market
introduction of new products, the impact of competitive pricing and
offerings, fluctuations in quarterly and annual results of operations,
dependence on several large customers, commercialization and technological
difficulties, risks related to our operations in Israel and other risks
detailed in the Company's annual report on Form 20-F and other filings with
the Securities and Exchange Commission. ECtel undertakes no obligation to
publicly release any revisions to these forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Company Contacts:
Mickey Neumann
Senior Vice President and CFO
Tel: +972-3-9002115
Email: Mickeyne@ectel.com; ir@ectel.com
IR Contacts:
Ehud Helft \ Kenny Green
GK Investor Relations
Tel: +1-617-418-3096 \ +1-646-201-9246
Email: info@gkir.com
SOURCE ECtel Ltd