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| REMEC Pre-Announces Selected Third Quarter Results |
|
SAN DIEGO, Nov. 26 /PRNewswire-FirstCall/ -- REMEC, Inc. (Nasdaq: REMC) announced today that it expects to report sales for the third quarter of 2002 of approximately $59.5 million, an increase over second quarter results of $53.5 million, or an 11% quarter over quarter increase. While REMEC continues to experience operating losses, there was a decline in operating losses compared to the second quarter and margin improvements were seen each successive month of the quarter. REMEC expects this trend to continue with increasing sales and decreasing losses for the fourth quarter of 2002. REMEC is issuing this press release in conjunction with the roadshow of REMEC and Spectrian Corporation (Nasdaq: SPCT) scheduled to commence on Monday, December 2, 2002 in connection with REMEC's acquisition of Spectrian. REMEC will release its operating results for the third quarter of 2002 on Monday, December 9, 2002. Management of REMEC will also host a conference call to review the third quarter results after the foregoing earnings release. In conjunction with the roadshow of REMEC and Spectrian, REMEC also expects to host a webcast on Monday, December 2, 2002, on REMEC's website at http://www.remec.com/news /. REMEC is a designer and manufacturer of high frequency subsystems used in the transmission of voice, video and data traffic over wireless communications networks and in defense and space electronics applications. REMEC is located at 3790 Via de la Valle, Del Mar, CA 92014. For more information, visit REMEC's website at http://www.remec.com / or call (858) 505-3713. Forward-looking Statements This release contains forward-looking and preliminary statements regarding REMEC's anticipated third quarter results and REMEC's future financial and operating results. These statements are based on current expectations and are subject to a number of risks and uncertainties. Final results for the third quarter could differ materially because of unforeseen information or accounting adjustments made during the quarter-end financial statement close process. Make Your Opinion Count - Click Here
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SOURCE REMEC, Inc. -0- 11/26/2002 /CONTACT: Ronald E. Ragland, Chairman & Chief Executive Officer, or David L. Morash, Chief Financial Officer, both of REMEC, Inc., +1-858-505-3713/ /Company News On-Call: http://www.prnewswire.com/comp/109967.html / /Web site: http://www.remec.com/news / |




