Channell Provides Updated Financial Guidance
Channell Commercial Corp. (NASDAQ: CHNL), a designer and manufacturer of telecommunications equipment supplied to operators of communications networks worldwide and water harvesting solutions distributed in markets throughout Australia, today announced updated financial guidance for the first quarter of 2007 ended March 31, 2007.
Revenue for the quarter is now expected to be in the $33-$33.5 million range versus prior guidance for revenues in the $32-$33 million range. On a GAAP basis, the company now anticipates a range of a $0.02 loss per share to break-even compared to prior guidance of a loss per share in the $0.05-$0.08 range. The better-than-anticipated preliminary first quarter performance is attributable to stronger demand and a more favorable product mix in the Company’s core domestic communications equipment business.
The Company expects to report final results at or near the filing date of its form 10-Q with the Securities and Exchange Commission for the period ended March 31, 2007 at which time it also expects to provide financial guidance for the second quarter of 2007 and updated guidance for full year 2007.
About Channell
Channell Commercial Corporation is a designer and manufacturer of telecommunications equipment supplied to communications network operators worldwide and water harvesting solutions distributed in markets throughout Australia. Major product lines include a complete line of thermoplastic and metal fabricated enclosures, advanced copper termination and connectorization products, fiber-optic cable management systems and polyethylene water storage tanks. The Company’s headquarters and U.S. manufacturing facilities are in Temecula, California. International operations include facilities in Toronto (Canada), London (U.K.) and various locations throughout Australia. The Company’s website is www.channell.com
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