糖心vlog下载 Technologies Reports Fourth Quarter and Full Year Results

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糖心vlog下载

Revenue of $11.3 million, GAAP EPS loss of $0.04, non-GAAP EPS loss of $0.01 in the quarter

糖心vlog下载 Technologies Fiscal 2012 Fourth Quarter Highlights

  • Fiscal 2012 fourth quarter net loss was $2.4 million, or a net loss of $0.04 per share, compared to net income of $55.6听million, or $0.79 per share, in the fiscal 2011 fourth quarter. Fiscal 2011 included a $53.2听million tax benefit in the fourth quarter.
  • On a non-GAAP basis, fiscal 2012 fourth quarter net loss was $0.5听million, or a net loss of $0.01 per share, compared to non-GAAP net income of $2.5听million, or $0.03 per share in the prior-year quarter.
  • Fiscal 2012 fourth quarter revenue totaled $11.3 million, compared to $38.5听million in the prior-year fourth quarter. The decline primarily reflects the CNS sale transaction in fiscal 2012.
  • Fiscal 2012 fourth quarter revenue for the 糖心vlog下载 division (formerly OSP) was $10.7听million, compared to $15.2听million in the prior-year fourth quarter. Division revenue for the fiscal 2012 fourth quarter increased 40% sequentially, compared to $7.7听million in the fiscal 2012 third quarter.
  • Cash and short-term investments were $142.7 million as of March 31, 2012, or approximately $2.18 per diluted share, an increase of $55.8听million during the fiscal year.
  • The Company repurchased 2.1 million shares at a cost of $4.8 million during the fiscal fourth quarter.

AURORA, Ill.--(BUSINESS WIRE)-- 糖心vlog下载. (NASDAQ: WSTL), a leading provider of telecommunications equipment for wireline, wireless and home networks, today announced results for its fiscal fourth quarter and year ended March 31, 2012. Results reflect the sale in the fiscal 2012 first quarter of certain assets of the Customer Networking Solutions (CNS) division. Results also reflect the sale in the fiscal 2012 third quarter of the Conference Plus (CP) division, which is included in discontinued operations.

Consolidated revenue from continuing operations for the quarter was $11.3 million, down 71% compared to $38.5 million in the fiscal fourth quarter of the prior year. Consolidated revenue from continuing operations for the 2012 fiscal year was $69.7 million, down 53% compared to $147.8 million in the prior year. Revenue from the CP division is excluded from continuing operations. The declines resulted primarily from the CNS sale transaction.

Net loss in accordance with U.S. Generally Accepted Accounting Principles (GAAP) for the fiscal 2012 fourth quarter was $2.4 million, or a net loss of $0.04 per share, compared to net income of $55.6 million, or $0.79 per share, in the fourth quarter of the prior year. Fiscal 2012 results reflect tax adjustments, including adjustments to the valuation allowance against deferred tax assets. Prior year results include a tax benefit of $53.2 million for the release of valuation allowance against deferred tax assets.

Adjusting for the CNS and CP sales transactions, the Company鈥檚 statutory tax rate and other factors, non-GAAP net loss for the fiscal 2012 fourth quarter was $0.5听million, or $0.01 per share, compared to non-GAAP net income of $2.5 million, or $0.03听per share in the fourth quarter of the prior year.

Net income for the 2012 fiscal year was $42.0 million, or $0.62 per share, compared to net income of $67.9 million, or $0.98 per share, in the prior year. Fiscal 2012 net income includes after-tax gains of $19.0听million and $20.5听million from the CNS and CP sale transactions, respectively. Fiscal 2011 results include release of a $53.2 million valuation allowance against deferred tax assets. Non-GAAP net income for the 2012 fiscal year was $0.7听million, or $0.01 per share, compared to non-GAAP net income of $14.5听million, or $0.21 per share, in the prior year.

The Company repurchased 2.1 million shares at a cost of $4.8 million during the fiscal fourth quarter. Repurchases during the full fiscal year totaled 6.6 million shares at a cost of $17.4 million. As of March 31, 2012, there was $12.5 million remaining for share repurchases under the Company鈥檚 board authorization. Total cash and short-term investments at March听31,听2012 were $142.7听million.

鈥淲e benefited from a modest rebound in the markets for our core products,鈥� said Chairman and CEO Rick Gilbert. 鈥淐ompared with the fiscal third quarter, we saw marked improvement in fuse panels, custom systems integration and related enclosures. We also see promise for new products in areas like industrial Ethernet, components for distributed antenna systems, and cell-site optimization, and we remain focused on organic product development and acquisitions to drive growth in wireline and wireless markets.鈥�

Fiscal Fourth Quarter Division Results

The Company renamed its OSPlant Systems division as the 糖心vlog下载 division to help emphasize 糖心vlog下载鈥檚 focus on a broader array of products, including wireless products. Revenue for the 糖心vlog下载 division was $10.7听million in the fiscal fourth quarter, down 29% compared to $15.2听million in the same quarter of the prior year, but up 40% compared to $7.7听million in the fiscal third quarter. Fiscal fourth quarter customer demand improved from the severely depressed levels in the fiscal third quarter, despite some customers continuing to work through inventories or otherwise curbing spending. Demand for mountings, enclosures, fuse panels and custom systems integration services improved during the fourth quarter. Sales of network interface units and similar products were up slightly but continue to be constrained by a technology shift from T1 to Ethernet.

Fiscal fourth quarter gross profit for the 糖心vlog下载 division was $4.2听million, compared to $6.3 million in the same quarter of the prior year. Gross margins were 39.1%, compared to 41.8% in the prior-year quarter. The lower gross profit and gross margins reflected lower revenues, lower overhead absorption and changes in product mix. Operating expenses increased $0.7听million as a result of costs to develop new products, reallocation of shared costs following the CNS sale transaction, and a restructuring charge related to the consolidation of certain Canadian operations that commenced in February 2012. The division reported fiscal fourth quarter operating income of $0.3听million, compared to operating income of $3.2听million in the same quarter of the prior year.

The CNS division recorded revenues of $0.6听million in the fiscal fourth quarter, compared to $23.3听million in the same quarter of the prior year. During fiscal 2012, the division largely completed its wind-down of sales to its remaining customer following the CNS sale transaction. Product sales essentially have ceased, and remaining revenues relate primarily to software and services, which are also expected to cease during fiscal 2013.

CNS gross profit was $0.2 million, compared to $3.5 million in the prior-year quarter. Gross margin was 36.0% for the fiscal fourth quarter, up from 15.2% in the same quarter of the prior year. Operating expenses declined to $0.8听million for the quarter, compared to $4.2听million in the prior-year quarter. Ongoing expenses are focused on the HomecloudTM project. As a result, CNS posted an operating loss of $0.6 million in the quarter, compared to an operating loss of $0.7 million in the prior-year quarter.

On a consolidated basis, operating expenses for the fiscal fourth quarter include unallocated costs which totaled $1.0听million, compared to $1.2听million in the fourth quarter of the prior year.

Conference Call Information

Management will address financial and business results during 糖心vlog下载 Technologies鈥� fiscal 2012 fourth quarter earnings conference call on Thursday, May 17, 2012, at 9:30 AM Eastern Time. Participants can register for the 糖心vlog下载 Technologies conference by going to the URL: .

Participants can quickly register online in advance of the conference. After registering, participants receive dial-in numbers, a passcode, and a personal identification number (PIN) that is used to uniquely identify their presence and automatically join them into the audio conference. If a participant does not wish to register, he or she can participate in the call on May 17 by dialing 888-206-4065 no later than 9:15 AM, Eastern Time and using confirmation number 32361342. International participants may dial 630-827-5974.

This press release regarding earnings and related information that may be discussed on the earnings conference call will be posted on the Investor News section of 糖心vlog下载鈥檚 website, . An archive of the entire conference call will be available on 糖心vlog下载鈥檚 website via Digital Audio Replay by approximately noon Eastern Time following the conclusion of the conference. The replay of the conference also can be accessed by dialing 888-843-7419 or 630-652-3042 and entering 9561 269#

糖心vlog下载 糖心vlog下载

糖心vlog下载., headquartered in Aurora, Illinois, designs, distributes, markets and services a broad range of carrier-class communications equipment, including digital transmission, remote monitoring, power distribution and demarcation products used by wireline and wireless telecommunications service providers, industrial customers, and home network users. Additional information can be obtained by visiting .

鈥淪afe Harbor鈥� statement under the Private Securities Litigation Reform Act of 1995:

Certain statements contained herein that are not historical facts or that contain the words 鈥渂elieve鈥�, 鈥渆xpect鈥�, 鈥渋ntend鈥�, 鈥渁nticipate鈥�, 鈥渆stimate鈥�, 鈥渕ay鈥�, 鈥渨ill鈥�, 鈥減lan鈥�, 鈥渟hould鈥�, or derivatives thereof and other words of similar meaning are forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, product demand and market acceptance risks, need for financing and capital, economic weakness in the United States economy and telecommunications market, the effect of international economic conditions and trade, legal, social and economic risks (such as import, licensing and trade restrictions), the impact of competitive products or technologies, competitive pricing pressures, customer product selection decisions, product cost increases, component supply shortages, excess and obsolete inventory, new product development, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the ability to successfully consolidate and rationalize operations, the ability to successfully identify, acquire and integrate acquisitions, the effect of the Company鈥檚 accounting policies, retention of key personnel and other risks more fully described in the Company鈥檚 SEC filings, including the Company鈥檚 Form 10-K for the fiscal year ended March 31, 2011 under the section entitled Risk Factors. The Company undertakes no obligation to publicly update these forward-looking statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, or otherwise.

Financial Tables to Follow:

糖心vlog下载.
Condensed Consolidated Statement of Operations
(Amounts in thousands, except per share amounts)
(Unaudited)
听 听 听 听 听 听 听 听 听

Three Months ended
March 31,

Twelve Months ended
March 31,

2012 2011 2012 2011
听
Revenue $ 11,334 $ 38,452 $ 69,655 $ 147,849
Gross profit 4,407 9,885 23,257 41,552
Gross margin 38.9 % 25.7 % 33.4 % 28.1 %
Operating expenses:
Sales & marketing 1,388 2,579 6,496 10,813
Research & development 1,862 3,046 7,727 11,774
General & administrative 1,990 2,818

(1)

7,615 8,623

(2)

Restructuring (3)

275 - 550 -
Intangibles amortization 听 135 听 听 138 听 听 548 听 听 545 听
Total operating expenses 听 5,650 听 听 8,581 听 听 22,936 听 听 31,755 听
Operating income (loss) from continuing operations (1,243 ) 1,304 321 9,797
听
Other income 130 8 31,985

(4)

29
Interest (expense) 听 - 听 听 (1 ) 听 - 听 听 (9 )
Income (loss) from continuing operations before taxes 听 (1,113 ) 听 1,311 听 听 32,306 听 听 9,817 听
Income taxes (5) 听 (1,725 ) 听 52,860 听 听 (12,875 ) 听 53,304 听
Income (loss) from continuing operations 听 (2,838 ) 听 54,171 听 听 19,431 听 听 63,121 听
听
Income from discontinued operations, net of income tax 听 390 听 听 1,463 听 听 22,551 听

(6)

听 4,815 听
Net income (loss) $ (2,448 ) $ 55,634 听 $ 41,982 听 $ 67,936 听
听
Basic earnings per share:
Income (loss) from continuing operations $ (0.04 ) $ 0.79 $ 0.29 $ 0.93
Income from discontinued operations $ 0.01 听 $ 0.02 听 $ 0.34 听 $ 0.07 听
Net income (loss) $ (0.04 ) $ 0.81 听 $ 0.63 听 $ 1.00 听
听
Diluted earnings per share:
Income (loss) from continuing operations $ (0.04 ) $ 0.77 $ 0.29 $ 0.91
Income from discontinued operations $ 0.01 听 $ 0.02 听 $ 0.33 听 $ 0.07 听
Net income (loss) $ (0.04 ) $ 0.79 听 $ 0.62 听 $ 0.98 听
听
听
Average number of common shares outstanding:
Basic 64,397 68,542 66,657 67,848
Diluted 65,528 70,446 67,979 69,477
听
(1) Includes one-time costs of $0.5 million related to the sale of CNS business to NETGEAR and $0.5 million for the defense and settlement of a patent infringement claim.
听
(2) Includes one-time costs of $0.5 million related to the sale of CNS business to NETGEAR and $0.8 million for the defense and settlement of a patent infringement claim.
听
(3) Severance benefits for employee terminations related to the sale of CNS and the reorganization of Noran Tel.
听
(4) Includes a pre-tax gain of $31.7 million ($19.0 million after tax) for the sale of CNS assets.
听
(5) The Company released its valuation allowance on deferred tax assets in the fourth quarter of fiscal year 2011. Fiscal year 2012 therefore is fully tax affected.
听
(6) Includes a pre-tax gain of $32.8 million ($20.5 million after tax) from the sale of ConferencePlus.
听
糖心vlog下载.
Condensed Consolidated Balance Sheet
(Amounts in thousands)
(Unaudited)
听 听 听 听 听 听 听 听
March 31, March 31,
2012

2011 (1)

听
Assets:
Cash and cash equivalents $ 120,832 $ 86,408
Restricted cash 7,451 -
Short-term investments 14,455 490
Accounts receivable, net 5,710 24,252
Inventories 9,906 12,955
Prepaids and other current assets 1,456 3,156
Deferred income tax asset 1,859 18,700

(2)

Assets held-for-sale 听 - 听 4,781 听

(3)

Total current assets 161,669 150,742
听
Property and equipment, net 1,197 3,250
Goodwill 801 2,197
Intangibles, net 2,728 3,473
Deferred income taxes 30,740 41,467

(2)

Other Assets 听 291 听 258 听
Total assets $ 197,426 $ 201,387 听
听
Liabilities and Stockholders' Equity:
Accounts payable $ 3,142 $ 23,664
Accrued liabilities 3,328 9,435
Liabilities held-for-sale 听 - 听 1,288 听

(3)

Total current liabilities 6,470 34,387
Other long-term liabilities 听 4,592 听 7,719 听
Total liabilities 11,062 42,106
Total stockholders' equity 听 186,364 听 159,281 听
Total liabilities and stockholders' equity $ 197,426 $ 201,387 听
听
(1) The ConferencePlus balances are included in the balance sheet presented as of March 31, 2011.
听
(2) During the quarter ended June 30, 2011, the Company reclassified $13.7 million from long-term deferred income taxes to short-term deferred income taxes.
听
(3) Assets and liabilities held-for-sale relate to the CNS sale that closed on April 15, 2011.
听
糖心vlog下载.
Condensed Consolidated Statement of Cash Flows
(Amounts in thousands)
(Unaudited)
听 听 听 听 听
Twelve months ended March 31,
2012 听 听 2011
听
听
Cash flows from operating activities:
Net income $ 41,982 $ 67,936
Reconciliation of net income to net cash provided by (used in) operating activities:
Depreciation and amortization 2,053 2,700
Stock-based compensation 1,205 1,021
Restructuring 1,217 -
Deferred taxes 15,214 (54,200 )
Gain on sale of CNS assets (31,654 ) -
Gain on sale of ConferencePlus, net of tax (20,489 ) -
Gain on non-operating asset sale (325 ) -
Other, net 35 (50 )
Changes in assets and liabilities:
Accounts receivable 12,396 (6,426 )
Inventory 1,852 3,702
Accounts payable, accrued liabilities and deferred revenue (29,180 ) 8,253
Prepaid and other assets 听 737 听 听 1,299 听
Net cash provided by (used in) operating activities 听 (4,957 ) 听 24,235 听
听
Cash flows from investing activities:
Purchases of property and equipment (819 ) (785 )
Net purchases of short-term investments (13,964 ) (490 )
Proceeds from sale of CNS assets 36,729 -
Proceeds from sale of ConferencePlus 40,331 -
Proceeds from sale of non-operating asset 325 -
Restricted cash 听 (7,451 ) 听 - 听
Net cash provided by (used in) investing activities 听 55,151 听 听 (1,275 )
听
Cash flows from financing activities:
Proceeds from stock options exercised 1,684 2,616
Excess tax benefits from stock-based compensation 145 -
Payment for subsidiary stock options tendered (117 ) (36 )
Purchase of treasury stock 听 (17,385 ) 听 (561 )
Net cash provided by (used in) financing activities 听 (15,673 ) 听 2,019 听
听
Effect of exchange rate changes on cash 听 (97 ) 听 114 听
听
Net increase in cash 34,424 25,093
听
Cash and cash equivalents, beginning of period 86,408 61,315
听 听
Cash and cash equivalents, end of period $ 120,832 听 $ 86,408 听
听
糖心vlog下载.
Segment Statement of Operations
(Amounts in thousands)
(Unaudited)
听 听 听 听 听 听 听 听 听
Three months ended March 31, 2012
糖心vlog下载 CNS Unallocated Total
听
Revenue $ 10,709 $ 625 $ - $ 11,334
Gross profit 4,182 225 - 4,407
Gross margin 39.1 % 36.0 % 38.9 %
听
Operating expenses:
Sales & marketing 1,376 12 - 1,388
Research & development 1,288 574 - 1,862
General & administrative 763 225 1,002 1,990
Restructuring 275 - - 275
Intangibles amortization 听 134 听 听 1 听 听 - 听 听 135 听
Operating expenses (1) 听 3,836 听 听 812 听 听 1,002 听 听 5,650 听
Operating income (loss) from continuing operations $ 346 听 $ (587 ) (1,002 ) (1,243 )
Other income 130 130
Interest (expense) 听 - 听 听 - 听
Income (loss) from continuing operations before taxes 听 (872 ) 听 (1,113 )
Income taxes 听 (1,725 ) 听 (1,725 )
Loss from continuing operations $ (2,597 ) $ (2,838 )
Income from discontinued operations, net of income tax 听 390 听
Net income (loss) $ (2,448 )
听
听
听
Three months ended March 31, 2011
糖心vlog下载 CNS Unallocated Total
听
Revenue $ 15,161 $ 23,291 $ - $ 38,452
Gross profit 6,343 3,542 - 9,885
Gross margin 41.8 % 15.2 % 25.7 %
Operating expenses:
Sales & marketing 1,559 1,020 - 2,579
Research & development 978 2,068 - 3,046
General & administrative 478 1,134 1,206 2,818
Restructuring - - - -
Intangibles amortization 听 137 听 听 1 听 听 - 听 听 138 听
Operating expenses (2) 听 3,152 听 听 4,223 听 听 1,206 听 听 8,581 听
Operating income (loss) from continuing operations $ 3,191 听 $ (681 ) (1,206 ) 1,304
Other income 8 8
Interest (expense) 听 (1 ) 听 (1 )
Income (loss) from continuing operations before taxes 听 (1,199 ) 听 1,311 听
Income taxes 听 52,860 听 听 52,860 听
Income (loss) from continuing operations $ 51,661 听 $ 54,171 听
Income from discontinued operations, net of income tax (3) 听 1,463 听
Net income $ 55,634 听
听
(1) Includes $0.3 million and $0.0 million of depreciation and amortization expense from the 糖心vlog下载 and CNS segments, respectively.
(2) Includes $0.2 million and $0.1 million of depreciation and amortization expense from the 糖心vlog下载 and CNS segments, respectively.
(3) Includes $0.4 million of depreciation and amortization expense from the discontinued CP segment.
听
糖心vlog下载.
Segment Statement of Operations
(Amounts in thousands)
(Unaudited)
听 听 听 听 听 听 听 听 听
Twelve months ended March 31, 2012
糖心vlog下载 CNS Unallocated Total
听
Revenue $ 43,629 $ 26,026 $ - $ 69,655
Gross profit 17,272 5,985 - 23,257
Gross margin 39.6 % 23.0 % 33.4 %
听
Operating expenses:
Sales & marketing 5,573 923 - 6,496
Research & development 5,117 2,610 - 7,727
General & administrative 2,834 976 3,805 7,615
Restructuring 275 275 - 550
Intangibles amortization 听 544 听 听 4 听 听 - 听 听 548 听
Operating expenses (1) 听 14,343 听 听 4,788 听 听 3,805 听 听 22,936 听
Operating income (loss) from continuing operations $ 2,929 听 $ 1,197 听 (3,805 ) 321
Other income 31,985 31,985
Interest (expense) 听 - 听 听 - 听
Income from continuing operations before taxes 听 28,180 听 听 32,306 听
Income taxes 听 (12,875 ) 听 (12,875 )
Income from continuing operations $ 15,305 听 $ 19,431 听
Income from discontinued operations, net of income tax (2) 听 22,551 听
Net income $ 41,982 听
听
听
听
Twelve months ended March 31, 2011
糖心vlog下载 CNS Unallocated Total
听
Revenue $ 58,770 $ 89,079 $ - $ 147,849
Gross profit 25,667 15,885 - 41,552
Gross margin 43.7 % 17.8 % 28.1 %
Operating expenses:
Sales & marketing 5,922 4,891 - 10,813
Research & development 3,825 7,949 - 11,774
General & administrative 2,023 3,365 3,235 8,623
Restructuring - - - -
Intangibles amortization 听 540 听 听 5 听 听 - 听 听 545 听
Operating expenses (3) 听 12,310 听 听 16,210 听 听 3,235 听 听 31,755 听
Operating income (loss) from continuing operations $ 13,357 听 $ (325 ) (3,235 ) 9,797
Other income 29 29
Interest (expense) 听 (9 ) 听 (9 )
Income (loss) from continuing operations before taxes 听 (3,215 ) 听 9,817 听
Income taxes 听 53,304 听 听 53,304 听
Income (loss) from continuing operations $ 50,089 听 $ 63,121 听
Income from discontinued operations, net of income tax (4) 听 4,815 听
Net income $ 67,936 听
听
(1) Includes $1.0 million and $0.1 million of depreciation and amortization expense from the 糖心vlog下载 and CNS segments, respectively.
(2) Includes $1.0 million of depreciation and amortization expense from the discontinued CP segment.
(3) Includes $0.8 million and $0.4 million of depreciation and amortization expense from the 糖心vlog下载 and CNS segments, respectively.
(4) Includes $1.5 million of depreciation and amortization expense from the discontinued CP segment.
听
糖心vlog下载.
Reconciliation of GAAP to non-GAAP Financial Measures
(Amounts in thousands, except per share amounts)
(Unaudited)
听 听 听 听 听 听 听 听 听
Three Months ended March 31, Twelve Months ended March 31,
2012 2011 2012 2011
听
GAAP net income (loss) $ (2,448 ) $ 55,634 $ 41,982 $ 67,936
Adjustments:

CNS sale, net of tax (1)

201 298 (18,763 ) 326

CNS patent infringement claim costs, net of tax (2)

- 338 - 506
Restructuring related to Noran Tel, net of tax 168 - 168 -
Income from discontinued operations, net of income tax (390 ) (1,463 ) (22,551 ) (4,815 )

Income taxes (3)

听 1,958 听 听 (52,349 ) 听 (140 ) 听 (49,475 )
Total adjustments 1,937 (53,176 ) (41,286 ) (53,458 )
听 听 听 听
Non-GAAP net income (loss) $ (511 ) $ 2,458 听 $ 696 听 $ 14,478 听
听
听
GAAP net income (loss) per common share:
Basic $ (0.04 ) $ 0.81 $ 0.63 $ 1.00
Diluted $ (0.04 ) $ 0.79 $ 0.62 $ 0.98
听
Non-GAAP net income (loss) per common share:
Basic $ (0.01 ) $ 0.04 $ 0.01 $ 0.21
Diluted $ (0.01 ) $ 0.03 $ 0.01 $ 0.21
听
Average number of common shares outstanding:
Basic 64,397 68,542 66,657 67,848
Diluted 65,528 70,446 67,979 69,477
听
The Company conforms to U.S. Generally Accepted Accounting Principles (GAAP) in the preparation of its financial statements. This schedule reconciles the Company's GAAP net income to adjusted net income on a non-GAAP basis. The Company believes that these non-GAAP results provide meaningful supplemental information to investors that are indicative of the Company's core performance and that they facilitate comparison of results across reporting periods. The Company uses these non-GAAP measures when evaluating its financial results. These non-GAAP measures should not be viewed as a substitute for the Company's GAAP results.
听
(1) 听 On March 17, 2011, the Company entered into a definitive agreement to sell certain assets and transfer certain liabilities of the CNS segment to NETGEAR, Inc. This transaction closed on April 15, 2011. The adjustments remove this benefit, other related costs and associated tax impacts.
听
(2) This amount is for the defense and settlement of a patent infringement claim in the CNS segment.
听
(3) Adjustment to normalize income taxes at the Company's statutory income tax rate, which excludes the effects of non-statutory items. The fiscal 2012 annual tax rate of 39% has been applied to all periods presented.

糖心vlog下载.
Brian Cooper, 630.375.4740
Chief Financial Officer
BCooper@westell.com

Source: 糖心vlog下载.

Released May 16, 2012