NICE OUTLOOK for 2010-2012
Mr. Turney said: "In November 2009, when we announced our third quarter results, we said that we would further study our preliminary fiscal year 2010 earnings outlook and comment when filing our fiscal year 2009 results. Based on current exchange rates, we continue to expect that fiscal year 2010 revenue will approximate $100 million, which represents growth of more than 20 percent over fiscal year 2009. Even while taking into consideration the domestic market's possible federal legislation-induced slowdown during the last half of the year - and the unfolding effect of our rapid acceleration in high-growth market sectors - we believe that we should now express our earnings outlook in the range of 22 cents to 26 cents. As the year progresses, we will fine-tune that range.
"Further, we expect revenues for first quarter 2010 to exceed the revenues of first quarter 2009. We also expect to see bottom-line results similar or favorable to first quarter 2009 results. This is due, in part, to the accelerated growth of lower-margin business filling in for higher-margin business in first quarter 2010. However, we do expect to see more recovery of higher-margin business in subsequent quarters as fiscal year 2010 unfolds.
"Additionally, our revenue run rate projections for the end of fiscal year 2012 remain at approximately $140 million, based on current exchange rates; this represents a 69 percent increase over actual fiscal year 2009 revenues and a 40 percent increase over projected fiscal year 2010 revenues. As demonstrated in recent news releases, we have already taken some organizational steps toward configuring for continued growth. We will be intensely focused in that direction throughout fiscal year 2010."
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