Alphasmart (NASDAQ:ALSM)
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AlphaSmart Announces Preliminary Results for Fourth Quarter and
Fiscal Year 2004
LOS GATOS, Calif., Jan. 25 /PRNewswire-FirstCall/ -- AlphaSmart, Inc.
(NASDAQ:ALSM) today announced its preliminary expectations of operating results
for the fourth quarter and fiscal year ended December 31, 2004.
For the fourth quarter of 2004, AlphaSmart expects to report net revenue of
approximately $6.7 million to $6.9 million. The company anticipates taking
charges of approximately $160,000 for restructuring costs, approximately
$100,000 for legal costs related to litigation, and approximately $115,000 due
to a change in forecasted volume related to product royalties under its license
agreement with PalmSource, Inc. for the Palm OS operating system. In the
aggregate, these anticipated charges are expected to account for approximately
$0.02 per share on a fully diluted basis.
Including the aggregate effect of the anticipated charges, AlphaSmart expects a
net loss for the fourth quarter of approximately $0.02 to $0.03 per share on a
fully diluted basis, calculated in accordance with U.S. generally accepted
accounting principles (GAAP).
For the full fiscal year 2004, AlphaSmart anticipates net revenue of
approximately $35.3 million to $35.5 million and net income of approximately
$0.14 to $0.15 per share on a fully diluted basis, calculated in accordance
with GAAP. The expected net income includes the effect of the anticipated
charges totaling approximately $375,000 for the fourth quarter and $588,000 in
interest and a redemption premium paid on mandatorily redeemable preferred
stock in the first quarter. In the aggregate, these anticipated and actual
items are expected to account for approximately $0.06 per share on a fully
diluted basis.
AlphaSmart's anticipated results for the fourth quarter and full year are
preliminary and subject to change as a result of final review by management and
independent auditors and closing adjustments for the quarter and fiscal year.
AlphaSmart plans to report final year-end results after the close of the
financial markets on February 8, 2005.
Quarterly Teleconference and Webcast
AlphaSmart management plans to conduct its regular quarterly teleconference
following the release of final fourth quarter and full year results on February
8. This call will be webcast live for all investors and archived on the
company's website. Details for accessing the webcast are as follows:
AlphaSmart 4Q/FY04 Results Teleconference
February 8, 2005
2:00 p.m. PST / 5:00 p.m. EST
Go to the Investor Relations page of the AlphaSmart website at
http://www.alphasmart.com/ir/, and click on the webcast icon. From this site,
you can listen to the teleconference, assuming that your computer system is
configured properly. In addition to the webcast replay, a phone replay will be
available for seven days after the live call at 719-457-0820, code #2815545.
AlphaSmart intends to discuss financial and other statistical information on
this teleconference. This information will also be available on the company's
website at http://www.alphasmart.com/ir/, either in this news release, in the
news release on final results for the fourth quarter and fiscal year, or in the
live and archived webcasts described above.
AlphaSmart, Inc.
AlphaSmart, Inc. is a provider of affordable, portable personal learning
solutions for the K-12 classroom. Its portable computer-companion products are
used by students to enhance writing, keyboarding and comprehension, and have
been adopted by more than 8,000 school districts in the United States and other
countries. Based in Los Gatos, California, the company was founded in 1992 by
former Apple Computer engineers.
Forward-Looking Statements Safe Harbor
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, including statements regarding AlphaSmart's expected net
revenue, charges and net income per share on a fully diluted basis for fourth
quarter and fiscal year 2004. AlphaSmart's expectations and beliefs regarding
these matters are subject to change as a result of final review and closing
adjustments by AlphaSmart's management and registered public accountants. The
forward-looking statements contained in this press release may also be subject
to other risks and uncertainties, including those more fully described in
AlphaSmart's filings with the Securities and Exchange Commission, including its
quarterly report on Form 10-Q related to the three-month period ended September
30, 2004. AlphaSmart does not undertake to update any forward-looking
statements.
NOTE: AlphaSmart is a registered trademark of AlphaSmart, Inc. in the United
States and other countries. All other trademarks are the property of their
respective owners.
DATASOURCE: AlphaSmart, Inc.
CONTACT: investors, James M. Walker, Vice President, Chief Financial
Officer and Chief Operating Officer of AlphaSmart, Inc., +1-408-355-1029, or
Web site: http://www.alphasmart.com/