Rainbow (NASDAQ:RNBO)
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Rainbow Technologies Reports Q3 2003 10-Q Filing
IRVINE, Calif., Nov. 14 /PRNewswire-FirstCall/ -- Rainbow Technologies, Inc.
(the "Company") , a leading provider of digital content and transaction security
for the Internet, SSL VPNs, software applications and high assurance security
solutions, today announced that the Company filed its quarterly report on Form
10-Q for the quarter ended September 30, 2003 ("Q3 2003"). The Company has
determined that it was appropriate to record a revision of $0.01 per share to
its Q3 2003 earnings. With this revision, Rainbow reported earnings of $2.4
million or $0.09 per share on revenues of $35.4 million for Q3 2003.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020701/RAINLOGO )
This revision to Q3 2003 earnings is attributed to the application of an
accounting pronouncement, EITF Issue No. 00-19, to a legal settlement the
Company entered into in Q3 2003 and reported in the Company's quarterly report
on Form 10-Q for the quarter ended June 30, 2003. This revision represents a
non-cash, non-operating expense of approximately $333,000 or $0.01 per share.
About Rainbow Technologies, Inc.
Making security simple since 1979, Rainbow Technologies is a leading provider of
proven information security solutions for mission-critical data and applications
used in business, organization and government computing environments. Rainbow
has been breaking the security paradigm by making complex security simple to
implement and use for more than two decades. With headquarters in Irvine,
Calif., Rainbow maintains offices and authorized distributors throughout the
world. For more information, visit the Web site at http://www.rainbow.com/ .
Rainbow Technologies, Rainbow Mykotronx, NetSwift iGate, Luna and iKey are
trademarks of Rainbow Technologies, Inc. All other company and product names
are trademarks of their respective organizations.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements, certain of which are contained in this press
release and include, but are not limited to, the outlook for business segment
performance, revenue, backlog, litigation, tax effect, IT spending, particularly
in North America, outlook for future business performance, and global business
environment. These statements speak only as of the date of this press release
and are subject to various risks and uncertainties that could impact actual
results.
For further information please contact: Dan Chmielewski of Rainbow Technologies,
Inc., +1-949-450-7377,
http://www.newscom.com/cgi-bin/prnh/20020701/RAINLOGO
http://photoarchive.ap.org/
DATASOURCE: Rainbow Technologies, Inc.
CONTACT: Dan Chmielewski of Rainbow Technologies, Inc., +1-949-450-7377,
Web site: http://www.rainbow.com/