Eden Prairie, Minn., June 10, 1998 - FieldWorks, Incorporated (NASDAQ: FWRX) today stated that it expects lower revenue and earnings for the second fiscal quarter ending July 5, 1998, and for the full year. The Company estimates that revenue for the second quarter will be $3.5 to 4.0 million with net loss at $0.18 to 0.22 per share. Total 1998 revenue is anticipated to be somewhat below 1997 results.
"Orders since the beginning of the year have been less than planned," said Ronald E. Lewis, FieldWorks president and CEO. "We have previously announced enhanced product features, including the new 5000 Series II, pricing initiatives and organizational changes that are aimed at increasing our order rate. Due to our long sales cycle, however, we do not expect to see significant results from these initiatives until perhaps the fourth quarter."
"Despite the anticipated lower revenue and profitability this year, we have confidence in the emerging need for field force automation. We are continuing our development efforts on the 2000 Series line of mobile embedded servers with production anticipated in early 1999," Lewis concluded.
FieldWorks designs, builds and sells customer-specific computing solutions for demanding field environments. Users include field professionals in transportation, telecommunications, utility, medical, law enforcement and other industries worldwide. FieldWorks products are designed and produced in compliance with its formal quality system, which is certified to the international ISO9001 quality standard.
FieldWorks headquarters are at:
7631 Anagram Drive, Eden Prairie, MN 55344
Internet Address: www.field-works.com
Telephone: (612) 974-7000
Fax: (612) 974-7199
Forward-looking statements in this news release, if any, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the impact of changing economic or business conditions, the impact of competition, the availability of financing, the success of products in the marketplace, other risk factors inherent in the computer industry, and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.