Cyalume Technologies Holdings Expects 2012 Fourth Quarter Revenues of Approximately $12m
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Cyalume Technologies Holdings Expects 2012 Fourth Quarter Revenues of Approximately $12mCyalume Technologies
Cyalume Technologies Holdings today announced preliminary expectations for the 2012 fourth quarter and the full year, as well as its initial outlook for 2013.
Cyalume expects revenues for the 2012 fourth quarter to be approximately $12m, or 40% ahead of revenues reported in the 2011 fourth quarter. This also represents a 19% improvement as compared to the 2012 third quarter revenues of $10.1m. Cyalume expects 2012 fourth quarter net cash provided by operating activities and adjusted EBITDA to exceed the $0.8m and the $1.0m, respectively, reported for the fourth quarter of 2011.
Consequently, for 2012 revenues are expected to be approximately $39m, a 12% increase from 2011 revenues of $34.7m.
Cyalume's president and CEO Zivi Nedivi noted: "Since April when I joined the company, we have undertaken major initiatives and put in place strategies for future implementation to first turnaround and then rebuild our business.
"Thus far we have completed the realignment of our corporate structure designating each business unit as a profit center; we have significantly strengthened senior management as well as our sales force; we have redefined the objectives of our R&D program, and we put in place enhanced pay-for-performance incentives."
He continued: "Looking ahead for 2013, we have a meaningful pipeline of new product launches and upgrades of existing ones; we have formulated strategies to enter new markets and expand our presence in certain existing markets; and we are now exploring new business partnerships, and other M&A activities that could accelerate our growth and profitability.
"For 2013, excluding any acquisitions, we expect further improvement of our top and bottom line as compared to 2012. We look forward to reporting our progress in the months to come."