Notas de Imprensa

Nov 1, 2001

Alvarion Announces Implementation of Expense Reductions

Company To Initiate Share Buyback Program

TEL - AVIV, Israel--(BUSINESS WIRE)--Nov. 1, 2001-- 3rd Quarter 2001 Results To Be Released On November 12, 2001

Alvarion Ltd. (NASDAQ: ALVR - news), a leading provider of Broadband Wireless Access (BWA) solutions, announced today that it will implement a cost-cutting program designed to better align expenses with revenues. This program, expected to result in a decrease in the Company's expenses of approximately 20%, will include a reduction in the workforce of approximately 140 employees. The program will be implemented in each of the Company's operating and administrative areas and will bring the Company to a headcount of about 500 employees.

As announced on October 1st by the Company, the persistent weakness in the overall telecommunications environment, coupled with the effects of recent events in the U.S., have resulted in lower than anticipated third quarter revenues. The cost-cutting measures, which will be implemented immediately by the Company, are intended to streamline its operations, reduce overhead and eliminate duplicative functions. At the same time, the Company is committed to continue developing its leading products for carriers, ISPs and enterprise customers.

Expressing confidence in the Company's future prospects, the Board of Directors today announced that it would initiate a share buyback program. As required by Israeli law, the Company will seek to secure the necessary approvals that will allow it to invest up to $10 million in the repurchase of Alvarion's outstanding shares.

The Company will publish its third quarter earnings release on November 12, 2001, and will hold a teleconference on the same day to discuss the results. The call will take place at 9:00 a.m. EST. To participate in the call, please dial (877) 780-2276 (in the U.S.), or (973) 628-9554 (internationally), approximately ten minutes prior to the scheduled call start time. A replay of the conference call will be available from approximately 11:00 a.m. (EST) on November 12th until 11:59 p.m. EST on November 14th. To access the replay, please dial (877) 519-4471 (in the U.S.), or (973) 341-3080 (internationally), and enter authorization code 2937654.

About Alvarion
Alvarion is a powerhouse of point-to-multipoint Broadband Wireless Access (BWA) solutions for telecom carriers, service providers, and enterprises worldwide. Alvarion's systems are used for providing Internet access and voice and data services for subscribers in the last mile, for feeding of cellular networks, for building-to-building connectivity and for wireless local area network (LAN)

The merger of BreezeCOM and Floware to form Alvarion has created a company with the broadest range of BWA solutions by market segment and frequency band, designed to address all carriers' and service providers' business models. With its combined market experience, strong customer base, diversified distribution channels and field-proven deployments, Alvarion is a leading BWA pure play provider for every end user profile, from residential subscribers to business customers. For more information, please visit Alvarion's website at http://www.alvarion.com.

This press release may contain forward-looking statements within the meaning of the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Alvarion's management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; as well as the inability to establish and maintain relationships with commerce, advertising, marketing, and technology providers and other risks detailed from time to time in filings with the Securities and Exchange Commission.

« Back to List