May 11, 8:44 am Eastern Time
Company Press Release
Porta Systems Corp. Reports First Quarter Earnings Per Share of $.03 vs. Loss of $.18 Per Share in 1999 First Quarter
Operating Income Improved Significantly to $1.2 Million from Loss of $1.2 Million
MARCH 24, 2000 Porta Systems Corp. Anticipates Significantly Improved Results for 2000 and Reports Results for the Quarter and the Year Ended December 31, 1999
(BUSINESS WIRE)--March 15, 2000--Porta Systems Corp. (AMEX:PSI) today announced that it has entered into a multi-year sales, marketing and management co-operation agreement with Fujitsu Telecommunications Europe Limited that may result in up to $50 million in sales of Internet infrastructure products over the next four years.
Fujitsu will sell and market Porta's advanced Internet infrastructure technologies, including ADSL Single Ended Line Qualification System (SELQ) for broadband services and the sixth generation Sherlock remote test unit to telecom service operators in the United Kingdom and the remainder of Europe.
Asymmetric Digital Subscriber Line (ADSL) represents the latest evolution of the broadband xDSL technology family. An ADSL connection transmits up to 8 Mbps downstream to the subscriber and as much as 1 Mbps upstream, providing high-speed Internet and multimedia access over existing telecommunications infrastructure.
Porta Systems Corp. designs, manufactures and markets systems for the connection, protection, testing and administration of public and private telecommunications lines and networks. Porta Systems has various patents for copper and software based products and systems that support voice, data, image and video transmission. The Company's operation is divided into three business segments, which are based on the Company's core products. These are Line Connection and Protection Equipment, whose products interconnect copper telephone lines to switching equipment and provides fuse elements that protect telephone equipment and personnel from electrical surges; Operating Support Systems, whose products automate the testing, provisioning, maintenance and administration of communication networks and the management of support personnel and equipment; and Signal Processing, whose products are used in data communication devices that employ high frequency transformer technology.
Market Capitalization $45.1M
Shares Outstanding 9.49M
Float 5.90M
