Riverstone Expecting Falling Revenues

Communications Today, June 12, 2003

Network gear maker Riverstone Networks [Nasdaq: RSTN] warned that its fiscal first-quarter loss will be wider than that of the previous year because of weakness in its Asian markets. The company anticipates a first-quarter loss of about $18.6 million to $20.7 million, or 15 cents to 17 cents per share.

This past year, the company reported a first-quarter loss of $15.9 million, or 13 cents per share. Riverstone expects first-quarter revenues at $12 million to $13 million compared with $30.1 million a year ago. Analysts had projected the company to post first-quarter revenues of $15.3 million to $16.5 million. The company will release its next quarterly results on June 19.

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