Exhibit 99.1
FOR IMMEDIATE RELEASE
---------------------
ALLEN TELECOM UPDATES SECOND QUARTER 2002 GUIDANCE
--------------------------------------------------
BEACHWOOD, OHIO, June 11, 2002 - At a Bear Stearns Technology
Conference with analysts and investors today in New York City, Allen Telecom
Inc. (ALN: NYSE) commented on its second quarter 2002 financial performance. In
its first quarter conference call in April 2002, the Company had indicated that
second quarter 2002 sales in non-Geolocation product lines were anticipated to
be higher than first quarter 2002 levels, but that Geolocation sales would be
lower in the second quarter due to the transition between the conclusion of the
Verizon contract and the startup of deployment with AT&T Wireless. During the
conference earlier today, the Company stated that April and May sales were
developing as expected, and total sales for the second quarter are now expected
to increase modestly from the first quarter.
The Company also affirmed its earnings outlook for the second quarter
2002 from the April conference call when it had indicated that earnings were
expected to be flat to down slightly as compared to the first quarter 2002.
The Company has continued its strong emphasis on cash flow and
estimates that it will generate approximately $10M in cash during the second
quarter and enhance the Company's liquidity.
Allen Telecom Inc. (http://www.allentele.com) is a leading supplier of
wireless equipment to the global telecommunications infrastructure market. FOREM
supplies sophisticated filters, duplexers, combiners, amplifiers and microwave
radios to an array of OEM customers. MIKOM focuses on providing repeaters,
in-building systems and other products that enhance both the coverage and the
capacity of a wireless system. Tekmar Sistemi provides integrated low power
fiber optic and cable distributed antenna systems for indoor coverage systems.
Decibel Products and Antenna Specialists manufacture land based and mobile
antennas in frequency bands that cover all of the traditional wireless networks.
Grayson Wireless supplies measurement and signal processing systems for testing
the performance of a wireless network, network-based wireless caller Geolocation
systems for E 911 and value added services. Comsearch offers program management,
network planning, engineering, development and installation of wireless networks
worldwide.
Statements included in this press release, which are not historical in
nature, are forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements regarding the Company's future performance and
financial results are subject to a number of risks and uncertainties that could
cause actual results to differ materially from those set forth in the
forward-looking statements. Factors that could cause the Company's actual
results to materially differ from forward-looking statements made by the
Company, include, among others, the cost incurred, savings realized and timing
of the integration of acquisitions, such as the integration of Bartley R.F.
Systems and the consolidation of the Company's Nevada facility into Bartley's
Amesbury, MA facility; the cost, success and timetable for new product
development including, for example, products for 3G, E 911 and power
amplification; the health, economic stability and relative currency valuations
in world and national markets; the cost and outcome of litigation, including,
for example, a lawsuit filed by a competitor in the E 911 Geolocation business
claiming infringement by the Company of intellectual property rights; the cost
and availability of capital and financing to the Company and its customers; the
uncertain timing and level of purchases by the limited number of the Company's
customers of both current products and services, and those under development;
the effective realization of inventory, receivables and other working capital
assets to cash; the impact of competitive products and pricing in the Company's
markets; the ability of the Company to generate future U.S. profits or to
implement other tax planning strategies needed to utilize the C's tax loss carry
forwards; the impact of U.S. and foreign government legislative/regulatory
actions, including, for example, the scope and timing of E 911 Geolocation
requirements in the U.S. markets and spectrum availability and licensing for new
wireless applications; the impact of future business conditions on the Company's
ability to meet terms and conditions of the Company's borrowing agreements; the
cost, timing and availability of personnel, facilities, materials and vendors
required for the Company's current and future products; and whether and when
backlog will be converted to customer sales. Allen Telecom Inc.'s Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q may contain additional factors.
For further information contact: Dianne B. McCormick
Director, Investor Relations
(216) 765-5855 (phone)
(216) 765-0375 (fax)
Dianne_McCormick@allentele.com