Kirk
19 년 전
Insider Buying Reported by Yahoo!
http://finance.yahoo.com/q/it?s=CACS
This is a good sign since they were sellers in the past at $12.80
30-Nov-05 KOENIG, ROGER L.
Chairman 900 Direct Purchase at $4.7433 per share. $4,268
30-Nov-05 PIERCE, NANCY
Director 900 Indirect Purchase at $4.7433 per share. $4,268
29-Nov-05 KOENIG, ROGER L.
Chairman 5,800 Direct Purchase at $4.7186 per share. $27,367
29-Nov-05 PIERCE, NANCY
Director 5,800 Indirect Purchase at $4.7186 per share. $27,367
28-Nov-05 KOENIG, ROGER L.
Chairman 10,000 Direct Purchase at $4.7146 per share. $47,146
28-Nov-05 PIERCE, NANCY
Director 10,000 Indirect Purchase at $4.7146 per share. $47,146
1-Jul-04 PIERCE, NANCY
Officer 30,000 Indirect Automatic Sale at $12.8008 per share. $384,024
1-Jul-04 KELD LLC
Beneficial Owner (10% or more) 30,000 Direct Automatic Sale at $12.8008 per share. $384,024
1-Jul-04 KOENIG, ROGER L.
Chairman 30,000 Indirect Automatic Sale at $12.8008 per share. $384,024
Kirk
20 년 전
Bad News. Got the stock hammered yesterday. It looks like they are quibbling about what quarter some revenue should officially be booked. Since it doesn't effect the viability, or lack of, for this company, it could be a short lived decline. Then again, it could be the first cockroach.
Press Release Source: Carrier Access
Carrier Access Delays Filing Amendment to Form 10-K for the Period Ended December 31, 2004
Monday May 2, 8:49 pm ET
BOULDER, Colo.--(BUSINESS WIRE)--May 2, 2005--Carrier Access Corporation (Nasdaq:CACS - News), a manufacturer of broadband communications equipment, today announced that the filing of a required amendment to its previously filed Annual Report on Form 10-K for the fiscal year ended December 31, 2004 will be delayed beyond the May 2, 2005 extended filing date.
As a result of information presented to its auditors, KPMG LLP, in connection with the Company's 404-review process, Carrier Access is performing additional detailed review of certain contracts to confirm language regarding passage of title from specific customer transactions in situations where the order documentation from such customers is not consistent. The issue under examination relates to the passage of title and proper timing of revenue recognition between calendar quarters in 2003 and 2004.
When the Company filed its 2004 Form 10-K Report on March 22, 2005, it utilized an order of the Securities and Exchange Commission permitting a 45-day extension of time within which to include its annual management report and the related attestation report of the Company's independent auditors.
The Company has made substantial progress towards the completion of its assessment of the effectiveness of its internal control over financial reporting as of December 31, 2004. However, the Company believes it is necessary to take additional time to review this issue to ensure that the timing of the revenue received in these specific situations has been recorded in the correct period, and both the Company and the auditors require additional time to complete the documentation and related audit procedures in connection with the Company's management report on the effectiveness of the Company's internal control over financial reporting and the related attestation report of the Company's independent auditors under Section 404 of the Sarbanes-Oxley Act of 2002.
Management has determined that a control deficiency exists because its internal control procedures did not require a review to determine whether there are contradictory contractual provisions in existing customer arrangements that could bear on the appropriate timing of revenue recognition, and that this control deficiency constitutes a material weakness as of December 31, 2004. As previously disclosed in its Form 10-K filed March 22, 2005, management previously disclosed that a material weakness existed as of December 31, 2004 with respect to following of control procedures regarding the Statement of Cash Flows.
As a result of the Company's delay in filing its required amendment on Form 10-K/A for 2004, Carrier Access expects to receive notification from Nasdaq that it is not in compliance with the filing requirements for continued listing on Nasdaq and that its securities could be subject to delisting from the Nasdaq National Market. In addition, Carrier Access anticipates that Nasdaq may change the Company's trading symbol from "CACS" to "CACSE."
About Carrier Access Corporation
Carrier Access (Nasdaq:CACS - News) provides consolidated access technology designed to streamline the communication network operations of service providers, enterprises and government agencies. Carrier Access products enable customers to consolidate and upgrade access capacity, and implement converged IP services while lowering costs and accelerating service revenue. Carrier Access' technologies help our customers do more with less. For more information, visit www.carrieraccess.com.
Contact:
Carrier Access
Audra Bailey, 303-218-5455
abailey@carrieraccess.com
Source: Carrier Access
Kirk
20 년 전
Carrier Access Updates Guidance for Third Fiscal Quarter of 2004
http://biz.yahoo.com/bw/040908/85235_1.html
Wednesday September 8, 6:30 am ET
BOULDER, Colo.--(BUSINESS WIRE)--Sept. 8, 2004--Carrier Access Corporation (NASDAQ: CACS - News), a leading provider of broadband communications technologies, today announced after discussions with several wireless service providers and OEM customers, and due to industry consolidation in the wireless industry, it expects revenues for the third fiscal quarter of 2004 to decline on a sequential basis by approximately 15 to 20 percent from the $30.5 million recorded in the second fiscal quarter of 2004.
Carrier Access believes discussions with its customers have resulted in increased visibility and anticipates that revenues for the fourth quarter 2004 will increase slightly quarter over quarter from revenues anticipated to be reported in the third quarter. Carrier Access continues to see increased demand for its business service delivery, including Voice-over-IP (VoIP) products and believes the decrease in sales to wireless customers is a short-term event and due principally to the consolidation in the wireless mobility market in North America.
"Consolidation among wireless service providers has resulted in what we believe is a short-term spending decline as wireless service providers constrain their capital to rationalize their networks. This is clearly affecting our top line. Although quarterly revenues are anticipated to decline from those reported in the second quarter of 2004, we believe we are well positioned to increase revenues in 2005 in the wireless market," said Roger Koenig, president, CEO and chairman, Carrier Access.
"We remain focused on introducing new products for our Broadband Business Access and Wireless customers and are encouraged by customer engagements and continued trials. We continue to believe we are focused on the highest growth markets and believe we are well positioned to profitably grow our business," Koenig said.
Carrier Access will be holding a conference call on October 19 to discuss its third quarter 2004 results in more detail.
About Carrier Access Corporation
Carrier Access (NASDAQ: CACS - News) provides consolidated access technology designed to streamline the communication network operations of service providers, enterprises and government agencies. Carrier Access products enable customers to consolidate and upgrade access capacity, and implement converged IP services while lowering costs and accelerating service revenue. Carrier Access' technologies help our customers do more with less. For more information, visit www.carrieraccess.com.
Forward-Looking Statement Caution
This press release contains forward-looking statements about our anticipated 2004 third and fourth quarter operating results and our prospects for growth in 2005, as well as our growth prospects in wireless and Voice over IP. We caution that our growth prospects and our actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, consolidation among our customer base, continuing uncertainty regarding general economic conditions, changes in capital spending by carriers and telecommunications companies, market acceptance of our products, problems with or at our customers, distributors, OEM's and/or suppliers, growth rates within our industry, the financial stability of our customers, the introduction of new competition and technologies, and other risks and uncertainties including those factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2003, and other documents periodically filed with the Securities and Exchange Commission. We do not undertake any obligation to revise or update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Carrier Access
Michelle Chase, 303-218-5562
mchase@carrieraccess.com
Source: Carrier Access
Kirk
20 년 전
Carrier Access Presenting at Kaufman Bros. 7th Annual CMT Conference, Sept. 8, 2004
The dump may be complete so now they can start telling their story again with the secondary shares shaken out of weak hands... (somehow some fell into my hands... knock on wood, but I have gains on some of them already too. )
Carrier Access Presenting at Kaufman Bros. 7th Annual CMT Conference, Sept. 8, 2004
BOULDER, COLORADO - August 31, 2004 -
What:
Carrier Access will present at the Kaufman Bros.’ 7th Annual Communications, Media & Technology Conference. Company executives will provide attendees with an overview of the company and its three target markets within the broadband access industry: wireless, IP business services and fiber access.
Who:
Carrier Access (NASDAQ: CACS), a leading provider of broadband access communications technologies
Presenters: Roger Koenig, president, CEO and chairman of the board;
Tim Anderson, CFO
When:
Wednesday, Sept. 8, 2004, at 2:25 p.m. EDT / 12:25 p.m. MDT
Where:
The W New York Hotel, 541 Lexington Avenue, New York, NY
About Carrier Access Corporation
Carrier Access (NASDAQ: CACS) provides next-generation wireline and wireless broadband access technologies that optimize communications services for service providers, enterprises and government agencies. Carrier Access products are designed to enable customers to consolidate and upgrade access capacity, and implement converged IP services while lowering costs and accelerating service revenue. For more information, visit www.carrieraccess.com.
Kirk
20 년 전
Carrier Access loses 3 execs
Story: http://www.bouldernews.com/bdc/local_business/article/0,1713,BDC_2461_3049078,00 .html
Carrier Access loses 3 execs
Former vice presidents say they chose to leave
By Matt Branaugh, Camera Business Writer
July 20, 2004
The astronomical rise of Carrier Access Corp.'s stock was the talk of 2003.
But in 2004, three key executives have made quiet exits.
Monday, the Boulder-based telecommunications equipment provider, which releases second-quarter results today, confirmed the recent departures.
All three — Teddy Wyatt, the company's vice president of engineering, Mark Nixon, the company's vice president of marketing, and Russ Hawkins, the company's senior vice president of original equipment manufacturers and international sales — say they chose to leave on their own terms.
Nixon and Wyatt both declined to comment on their reasons. Nixon said he is pursuing a noncompeting telecom-related business in the Denver area.
Hawkins, who was president and chief executive of the 5-year-old Paragon Networks when it was acquired by Carrier Access for $20.6 million last year, said his plan always was to help integrate the businesses, then leave.
"I made it clear to the team at Carrier that I was intending on becoming the CEO of another company," said Hawkins, who now heads InfiniCon Systems in Pennsylvania. "There was no issue there."
Michelle Chase, Carrier Access' director of corporate communications, said the company is looking to fill the positions.
"With the life cycle of the company at this time, it's good timing for us to update our management team," she said.
The 238-employee business originally was founded in 1986 by current CEO Roger Koenig as Koenig Communications. Like most companies, Carrier Access emphasizes the significance of keeping key management, sales and engineering personnel in quarterly filings made with the Securities and Exchange Commission.
Carrier Access makes and sells broadband access equipment for communications service providers, helping those providers upgrade their network capacities and deliver voice and data communications more effectively. Major customers include T-Mobile USA Inc., XO Communications and Nortel Networks Inc.
It was hit hard in 2001 and 2002, when the competitive local exchange carriers brought on to challenge incumbent phone companies began to falter. In 2000, 62 percent of Carrier Access' sales came from CLECs, while only 5 percent came from wireless providers.
The company rebounded in 2003 after focusing on wireless providers. By first quarter of this year, CLECs chipped in 13 percent of Carrier Access' sales, while wireless customers contributed 68 percent.
Research and development investments, though, have lagged, even though the company says in its filings that it needs such investments to remain competitive. In 2003, Carrier Access spent $11 million on research and development, down substantially from $23.7 million in 2002 and $33.6 million in 2001.
"We continue to invest in research and development where it makes sense," Chase said.
In 2003, the company made $2.5 million on sales of $62.6 million, compared to a loss of $52.7 million on sales of $50.2 million the year prior.
Carrier Access' shares soared 3,200 percent during 2003, making it the country's best performer among stocks traded on the major exchanges with a market capitalization of $250 million or more.
Carrier Access (Nasdaq: CACS) closed Monday at $12.65 with a market cap of $426 million. Its stock's highest close during the past 52 weeks was $16.78 on Jan. 16. Earlier this year, the company raised $78.5 million in a secondary stock offering.
Contact Camera Business Writer Matt Branaugh at (303) 473-1363 or branaugh
Kirk
21 년 전
Cingular Selects Carrier Access for Wireless Backhaul Solution
Yabba Dabba Doooo!
Press Release Source: Carrier Access
Cingular Selects Carrier Access for Wireless Backhaul Solution
Friday March 19, 11:25 am ET
BOULDER, Colo.--(BUSINESS WIRE)--March 19, 2004--Carrier Access Corporation (Nasdaq:CACS - News) announced today that Cingular Wireless has expanded Carrier Access' contract for cell site backhaul solutions to support Cingular's network expansion.
In the multi-year contract, Cingular will deploy Carrier Access' MASTERseries(TM) Cell Site Access Gateway to meet its current requirements for efficient n x T1 cell site to mobile switch center transport, while simultaneously preparing its network for future packet-based transport and advanced protocol processing. Deployments are to begin immediately.
"We're proud to be working with Cingular Wireless, helping them to add functionality, significantly reduce capital and operating costs, and pave the way for their next generation backhaul network," said Reini Florin, VP-Wireless Sales, Carrier Access.
The Carrier Access MASTERseries Cell Site Access Gateway provides wireless service providers an unparalleled combination of scalability, multiservices protocol processing, and reliability. The platform has been deployed in mobile wireless networks in 25 different countries and is currently used by eight of the top 10 carriers in the U.S.
About Carrier Access Corporation
Carrier Access designs, manufactures, and sells next-generation broadband access communications equipment to wireless and wireline communications service providers. With our solutions, Carrier Access' customers are deploying new media-rich Internet services and converged personalized communications services, while lowering capital and operating costs. Our customers use our products to upgrade access capacity and implement the convergence of IP, voice, and data services. Carrier Access' product portfolio meets or exceeds the highest interoperability, reliability, and quality standards in the industry, including Telcordia(TM) OSMINE, NEBS Level-3, and ISO 9001.
We sell our products directly to communications service providers, and indirectly through a broad channel of global distributor and communications infrastructure OEM partners. Our customers include wireless service providers, local exchange carriers, multi-cable operators, and international communications providers. Carrier Access and the Carrier Access logo are registered trademarks of Carrier Access Corporation. MASTERseries are trademarks of Carrier Access Corporation. Any other trademark is the trademark of its respective owner.
For more information, visit www.carrieraccess.com.
Forward-Looking Statement Caution
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including changing customer requirements, service provider future sales and timely deployment of Carrier Access products, projected savings on capital expenditures and operational savings achieved through deployment of the MASTERseries by service providers. For a discussion of additional factors that may cause results to differ, see Carrier Access' SEC reports. These forward-looking statements speak only as of the date hereof. Carrier Access disclaims any intent or obligation to update these forward-looking statements.
Contact:
Carrier Access
Mark Nixon, 303-332-9085
mnixon@carrieraccess.com
Source: Carrier Access
Kirk
21 년 전
Revenue grew from $15.9M to $23.3M or 47% in a SINGLE QUARTER!
Carrier Access Reports Fourth Quarter and 2003 Year End Financial Results
BOULDER, COLORADO - January 20, 2004 - Carrier Access Corporation (Nasdaq:CACS - News), a manufacturer of broadband communications equipment, today reported results for its fourth quarter and year ended December 31, 2003.
Revenue for the fourth quarter of fiscal 2003 was $23.3 million compared with $15.9 million for the third quarter of fiscal 2003 and $11.5 million for the fourth quarter of fiscal 2002. Net income for the fourth quarter of fiscal 2003 was $1.5 million or $0.05 per diluted share compared with net income for the third quarter of fiscal 2003 of $702,000 or $0.03 per diluted share and a net loss of $8.0 million or $0.32 per diluted share for the fourth quarter of fiscal 2002.
Revenue for the year 2003 was $62.6 million compared with $50.2 million for the year of 2002. Net income for the year of 2003 was $2.5 million or $0.09 per diluted share, compared with a net loss for the year of 2002 of $52.7 million or $2.13 per diluted share.
"The fourth quarter was an excellent quarter for Carrier Access as we recorded our fourth consecutive quarter of revenue and net income growth," said Roger Koenig, President and CEO of Carrier Access. "Our fourth quarter results showed a 46% gain in revenue to $23.3 million over $15.9 reported in the third quarter. This revenue increase was primarily driven by our wireless customer deployments."
"We believe that 2003 was a successful year for Carrier Access. At the beginning of the year our focus was to increase revenues and return to profitability during the year. Our approach for achieving this goal was to diversify our customer base, focus our sales and marketing efforts on wireless and other new markets, and introduce new products, while controlling our expenses. We believe that our 2003 results clearly demonstrate that we achieved this goal -- as we ended the year profitably with revenue growth of 24.5% over 2002."
Carrier Access will hold a conference call today at 9:15 a.m. EDT to review these results. The call is open to the public. Those who wish to participate should dial 630-395-0026, domestically or internationally, at least fifteen minutes prior to the scheduled start time for the call and reference Carrier Access.
Carrier Access has also scheduled this event to be broadcast live via web cast and replayed for the remainder of 2004. To access this web cast please go to the Investor Relations page at www.carrieraccess.com/investors, or www.companyboardroom.com.
Forward-Looking Statement Caution
This press release contains forward-looking statements regarding new customer initiatives and the ability to attain revenue with these new customer initiatives, as well as our growth prospects and market share gains in broadband access and service creation and our ability to control expenses. Our results of operations for the year ended 2003 are not necessarily indicative of the results that may be expected for any future period. We caution that actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, continuing uncertainty regarding general economic conditions, changes in capital spending by carriers and telecommunications companies, market acceptance of our products, problems with or at our customers, distributors and/or suppliers, growth rates within our industry, the financial stability of our customers, the introduction of new com petition and technologies, and other risks and uncertainties including those factors discussed in the company's Annual Report on Form 10-K for the year ended December 31, 2002 and other documents periodically filed with the Securities and Exchange Commission. We do not undertake any obligation to revise or update any forward-looking statements, whether as a result of new information, future events, or otherwise.
About Carrier Access Corporation
Carrier Access designs, manufactures and sells broadband access equipment to communications service providers. Our products are used to upgrade capacity of wireline and wireless communications networks. Our products also enable our customers to offer voice and data services, which historically have been offered on separate networks, on a single, converged network. We design our products to enable our customers to deploy new revenue-generating voice and data services, while lowering capital and operating costs. For more information visit www.carrieraccess.com.
CARRIER ACCESS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended Year Ended
December 31, December 31,
2003 2002 2003 2002
---------- ------- -------- --------
Net revenue $23,270 $11,461 $62,556 $50,247
Cost of goods sold 13,214 7,294 35,224 33,145
---------- ------- -------- --------
Gross profit 10,056 4,167 27,332 17,102
---------- ------- -------- --------
Operating expenses:
Research and development 3,309 3,629 10,948 23,536
Sales and marketing 3,593 4,074 11,776 18,254
General and administrative 1,572 1,810 5,415 9,831
Bad debt expense (recoveries) (104) 28 (3,085) 5,557
Restructuring charge -- 1,981 -- 1,981
Asset impairment charge -- 800 -- 9,795
Other intangible amortization 262 -- 262 216
Amortization of deferred stock
compensation -- 30 -- 199
---------- ------- -------- --------
Total operating expenses 8,632 12,352 25,316 69,369
---------- ------- -------- --------
Income (loss) from operations 1,424 (8,185) 2,016 (52,267)
Other income, net 95 121 353 714
---------- ------- -------- --------
Income (loss) before income taxes 1,519 (8,064) 2,369 (51,553)
Income tax expense (benefit) -- (41) (89) 1,102
---------- ------- -------- --------
Net income (loss) $1,519 $(8,023) $2,458 $(52,655)
========== ======= ======== ========
Income (loss) per share - basic $0.06 $(0.32) $0.10 $(2.13)
Income (loss) per share - diluted $0.05 $(0.32) $0.09 $(2.13)
Weighted average common shares:
Basic 25,206 24,771 24,815 24,754
Diluted 27,710 24,771 26,545 24,754
CARRIER ACCESS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
December 31, December 31,
ASSETS 2003 2002
------------ ------------
Current assets:
Cash, cash equivalents and marketable
securities $36,542 $25,728
Accounts receivable, net 18,333 8,598
Inventory, net 26,135 24,134
Other current assets 4,709 8,187
------------ ------------
Total current assets 85,719 66,647
Long-lived assets, net 21,823 9,790
------------ ------------
Total assets $107,542 $76,437
============ ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Total current liabilities $18,148 $10,323
Stockholders' equity 89,394 66,114
------------ ------------
Total liabilities and stockholders' equity $107,542 $76,437
============ ============
Kirk
21 년 전
Public Offering of 6,000,000 Shares of Common Stock
"Carrier Access (CACS: news, chart, profile), which makes equipment to boost telecom network performance, said late Friday that it filed to offer 6 million shares of stock with an overallotment provision for 900,000 additional shares. That would increase its shares outstanding by about one-fourth from the present 24.8 million."
http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&gui...
Press Release Source: Carrier Access Corporation
Carrier Access Corporation Announces Proposed Public Offering of 6,000,000 Shares of Common Stock
Friday November 14, 7:08 pm ET
BOULDER, Colo.--(BUSINESS WIRE)--Nov. 14, 2003--Carrier Access Corporation (Nasdaq: CACS - News) today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed public offering of 6,000,000 shares of common stock.
Credit Suisse First Boston LLC, Deutsche Bank Securities Inc. and Needham & Company, Inc. will be the managing underwriters of the offering. Credit Suisse First Boston LLC will serve as the sole book runner. The underwriters have an option to purchase up to 900,000 additional shares of common stock from the company solely to cover over-allotments, if any.
Carrier Access designs, manufactures and sells next-generation broadband access equipment to wireline and wireless communications service providers.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state.
Copies of the preliminary prospectus relating to the offering are not yet available; when available they may be obtained from the offices of Credit Suisse First Boston Corporation Prospectus Department, 11 Madison Avenue, New York, NY 10010, telephone (212) 325-2000.
--------------------------------------------------------
Contact:
Carrier Access Corporation
Jane Salance, 303-442-5455
Fax: 303-218-5797
jsalance@carrieraccess.com
www.carrieraccess.com
-------------------------------------------------------
Source: Carrier Access Corporation
http://biz.yahoo.com/bw/031114/145658_1.html
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