CAMARILLO,
Calif., April 4, 2002 -- California Amplifier, Inc. (Nasdaq: CAMP) today
announced that its Board of Directors has appointed KPMG, LLP as the Company's
independent auditor for its fiscal year ended February 28, 2002, replacing
Arthur Andersen, LLP.
“We are pleased that
KPMG will serve as California Amplifier’s new auditor and look forward to
building a long-term relationship with the firm,” said Fred Sturm, President
and Chief Executive Officer. “The appointment of KPMG as outside auditor for
fiscal year 2002 was made after careful review and consideration. Arthur Andersen has provided professional
services to California Amplifier since the Company’s inception. However, in light of recent developments
involving Arthur Andersen, we believe that engaging KPMG is in the best
interest of California Amplifier and its shareholders.”
Mr. Sturm continued,
“As a result of the change in auditors, we anticipate reporting fourth quarter
and fiscal year 2002 audited financial results in the second half of May 2002.”
The Company also
announced unaudited fourth quarter revenue of approximately $22.5 million,
modestly above the high end of the $18 to $22 million sales guidance the
Company provided in December 2001.
Additionally, the Company currently anticipates fourth quarter earnings
per share to be at or above the high end of the previous guidance of $.01 to
$.04.
About California Amplifier,
Inc.
California Amplifier
designs, markets and manufactures a broad line of integrated microwave fixed
point solutions used primarily in conjunction with satellite and terrestrial
broadband applications. The Company’s wireless access business unit
designs and markets integrated reception and two-way transmission fixed
wireless solutions for video, voice, data, telephony and networking
applications. The satellite business unit designs and markets reception
components for the worldwide DBS television market as well as a full line of
consumer and commercial products for video and data reception. California
Amplifier is an ISO 9001 certified company. For additional information, visit
California Amplifier’s web site at www.calamp.com.
Statements in this release
about the Company’s future performance are forward-looking statements and are
subject to risks and uncertainties that could cause actual results to differ
materially from expectations. Words such as “may,” “will,” “expects,”
“intends,” “plans,” “believes,” “seeks,” “could,” “estimates” and variations of these words and similar expressions
are intended to identify forward-looking statements. Factors that could impact California Amplifier’s future results
include changes in product demand and market growth rates, the effect of
competition, pricing pressures, supplier constraints, manufacturing yields,
market acceptance of new products and the viability and market acceptance of
new technologies. Although the Company
believes the expectations reflected in such forward-looking statements are
based upon reasonable assumptions, it can give no assurance that its
expectations will be attained. The
Company undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
More information about California Amplifier’s risks is available in the
Company’s annual report on Form 10-K and other filings made from time to time with
the Securities and Exchange Commission.”
For more information,
contact:
Crocker Coulson Rick
Vitelle
Partner Chief
Financial Officer
Coffin Communications Group California
Amplifier, Inc.
(818) 789-0100 (805)
987-9000
crocker.coulson@coffincg.com
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