MetaSwitch and Data Connection Preview Annual Results; Next-generation Switch Vendor Weathers Industry Downturn and Expects Significant Growth in Revenue and Profits
MetaSwitch and Data Connection Preview Annual Results; Next-generation Switch Vendor Weathers Industry Downturn and Expects Significant Growth in Revenue and Profits
ALAMEDA, Calif.--(BUSINESS WIRE)--April 22, 2002--MetaSwitch, supplier of the VP3000 Next Generation Class 5 Switch, and parent company Data Connection today announced that expected group results for fiscal year September 2001 to August 2002 are in line with plan despite tough economic conditions.
Profits are expected to be in the region of $12M, on revenues of $30M, representing the company's 21st consecutive profitable year.
"Like everyone in the industry, we experienced a slow-down in business in the last quarter of 2001, but our core business supplying best-in-breed technology to communications vendors and service providers recovered quickly from early 2002, to the point where we now have a high confidence level that both our sales and profits for the year are on target," commented Ian Ferguson, Chairman and Founder of Data Connection and MetaSwitch.
"We are particularly pleased that we are starting to see our MetaSwitch business unit generating significant revenue," added John Lazar, MetaSwitch vice president of sales and marketing and Data Connection board member. "Service providers are increasingly looking closely at potential vendors' financial stability, and we are seeing that concern translate into strong interest in MetaSwitch, because we have by far the surest financial position - as well as the best technology - of any next generation Class 5 switch vendor."
While other telecommunications vendors are experiencing difficult times, the company attributes its success to
-- diversification: the advantage of being a market leader across
a wide range of technologies, from MPLS, MGCP and SIP to
unified messaging, conferencing and next generation voice
switching;
-- a pool of exceptional engineering talent and industry-leading
product management, which has enabled the company to define
and deliver products, such as the VP3000 Next Generation Class
5 Switch, that meet current market requirements;
-- long-term strategic relationships built up with a broad range
of customers over more than 20 years in the business;
-- commitment to product investment and long-term fiscal planning
and management that has seen the company deliver successful
results every year since it was founded in 1981.
The company reports accounts on an annual basis according to the UK
accounting rules for privately held companies. Financial results for the year
to 31 August 2002 will be announced during September 2002.
About Data Connection
Data Connection Limited (DCL) is the leading independent developer and
supplier of MPLS, LMP, SIP, MGCP/Megaco, SCTP, ATM, Conferencing, Unified
Messaging, Directory and SNA portable products.
Customers include BT, Calient, CIENA, Cisco, COLT Telecom, Fujitsu,
Hewlett-Packard, Hitachi, IBM Corp., Lucent, Microsoft, Nortel Networks,
Santera, Siemens, Sonus, Sycamore, SBC, SGI, Sun, and Verizon. It was founded
in 1981 and is privately held. During each of the past 20 years its profits
have exceeded 20 percent of revenue.
About MetaSwitch
MetaSwitch, a division of Data Connection (DCL), develops and manufactures
advanced telecom switching solutions combining broadband (VoATM and VoIP) and
legacy voice access with Class 5 functions and subscriber services in a
compact, fault tolerant system.
The company's premier product, the MetaSwitch VP3000, offers service
providers an immediate solution for broadband and Plain Old Telephone Service
(POTS), and a future-proof "softswitch" architecture for enhanced
applications.
Data Connection and MetaSwitch are headquartered in London UK, with US
offices in Alameda CA and Reston VA.
Data Connection and MetaSwitch are trademarks of Data Connection Limited and
Data Connection Corporation. Brands and products referenced herein are the
trademarks or registered trademarks of their respective holders.