Avici Provides Q1 Revenue Expectation
Reaffirms Full-Year Outlook for Growth
North Billerica, MA, March 19, 2004 — Avici Systems Inc. (NASDAQ: AVCI), today announced that it expects gross revenues for its first quarter ending March 31, 2004 will be in the range of $6-8 million. The Company reaffirmed its full year 2004 outlook of 20-30% year-over-year revenue growth.
"First quarter revenues are being affected by uneven customer order patterns," said Steven Kaufman, President and CEO of Avici Systems. "We remain confident in our full year outlook for 2004 based on our pipeline of opportunities and the progress we are making with our channel relationships."
The Company expects to report its first quarter earnings on April 22, 2004.
About Avici Systems
Avici Systems Inc., headquartered in North Billerica, Mass., is a leading
provider of purpose-built carrier-class routing solutions for the Internet.
Avici's family of routers is designed to meet carrier requirements
for the highest scalability, reliability and network availability,
while lowering the total cost of building and operating their networks.
The company's routing systems provide new IP solutions to some of the
world's leading service providers. For more information, please visit
us at www.avici.com.
Avici is a trademark of Avici Systems Inc.
This release contains information about Avici's
future expectations, plans, and prospects that constitute forward-looking
statements for purposes of the safe harbor provisions under the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
are subject to risks and uncertainties, which could cause actual results
to differ materially from those anticipated. When used in this press
release, the word "will", "expected" and other similar
expressions are intended to identify such forward looking statements.
Such risks and uncertainties include, but are not limited to, market
acceptance of Avici products, services and enhancements, customer purchasing
patterns and commitments, development of the market place, product development
and enhancement, intensity of competition of other vendors, technological
changes and other risks set forth in Avici's filings with the Securities
and Exchange Commission.
| For more information contact: |
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| Inna Vyadro Director of Investor Relations Avici Systems 978-964-2000 ivyadro@avici.com |
Paul Brauneis Chief Financial Officer Avici Systems 978-964-2000 pbrauneis@avici.com |