Redknee receives multi-million dollar order
Redknee ("Redknee" or "the Company")
TORONTO, Oct. 21 /PRNewswire/ Redknee (AIM: RKN), a leading provider of mission-critical software and solutions for communications service providers, today announces a trading update for its financial year ended September 30, 2008 and announces the receipt of a multi-million dollar order.
Redknee is pleased to announce that its preliminary unaudited estimate of fiscal 2008 revenue is between CAN $49 million and CAN $50.5 million. This trading update acknowledges an increase from its previous guidance of CAN $45 million to CAN $48 million that was issued in the interim report for the six months to March 31, 2008. Revenue exceeded expectations based on greater than expected revenue growth for the fourth quarter of fiscal 2008. Redknee anticipates that it will release its final results during the week of December 1st, 2008.
The above estimates constitute forward-looking information. See "Caution Regarding Forward-Looking Information" below.
Receipt of multi-million dollar order
Redknee is pleased to announce that it has received a purchase order for approximately CAN $5 million from a Tier 1 North American carrier. Redknee anticipates that the bulk of the revenue from this purchase order will be recognized during fiscal 2009.
For more information about Redknee, visit www.redknee.com . About Redknee:
Redknee is a leading global provider of innovative communication software products, solutions and services. Redknee's award-winning solutions enable operators to monetize the lifetime value of each subscriber transaction while personalizing the subscriber experience to meet mainstream, niche and individual market segment requirements. Redknee's revenue generating solutions provide advanced converged billing, rating, charging and policy for voice, messaging and new generation data services to over 60 network operators in over 50 countries. Established in 1999, Redknee (AIM: RKN) is the parent of the wholly-owned operating subsidiary Redknee Inc. and its various subsidiaries. References to Redknee refer to the combined operations of those entities. For more information, visit http://www.redknee.com/ .
Caution Regarding Forward-Looking Information
This release contains forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relate to Redknee's preliminary unaudited estimate of revenue for fiscal 2008 and to revenue expected to be realized in fiscal 2009 from a purchase order. Such forward-looking statements are not promises or guarantees and involve known and unknown risks, uncertainties and other factors and assumptions that may cause the actual results, performance or achievements of Redknee, or developments in Redknee's business or industry, to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the estimated revenue for the fiscal year ended September 30, 2008 being preliminary and remaining subject to ongoing review by Redknee and its auditors and to final approval by Redknee's Audit Committee and Board of Directors; the demand for the Company's products; the potential for growth in the markets served by Redknee; the Company's position in the market and future opportunities therein; fluctuations in Redknee's revenues from quarter to quarter and year to year depending upon sales cycles; customer demand and the timing of customer purchase decisions; intense competition in the markets in which Redknee competes; technological change and changes in the industry in which Redknee competes; changing global economic conditions and uncertainties; the impact of foreign currency exchange rates; credit and collection risk; departure of key personnel; departures of key customers; and other risks detailed from time to time in the Company's filings with the Ontario Securities Commission including Redknee's Annual Information Form dated for the fiscal year ended September 30, 2007. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Redknee does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.