“Although the quarter came with some disappointments, I want to reiterate that overall, we are pleased with our performance and the progress we are making toward our goals,” he declared in the firm’s report for the third quarter released recently.
He said that APC was happy to see some leverage in its investments
as revenue growth outpaced operating expense growth, “we are not backing down
from spending and our plans call for continued investments in this area to meet
our long-term objectives and drive our top line”.
APC, he said, is focused on identifying ways to help drive waste and excess expense out of operations, and this is not something that will happen overnight.
“We are committed to operating as cost-effectively and efficiently as possible,” he told newsmen.
Some factors, such as product and segment mix, material costs, and currency, Mr. Dowdell said, would continue to be unpredictable but he expressed the believe that APC could do a better job with the areas within its control.
The company’s President also disclosed that APC revenue for the third quarter of 2005 was $512.3 million, which was, up by 16 per cent.
“Finally, as an example of the strategic investments we are making to build our business, we recently expanded our Network Critical Physical Infrastructure (NCPI) offerings with the purchase of NetBotz, Inc.,” Mr. Dowdell said.
According to him, the technology that NetBotz brought to APC is a perfect fit for enhancing security and management of NCPI applications, key platforms have been identified as essential components of a complete NCPI solution.
This acquisition, he explained, is an example of the commitment APC has to continuously deliver increased value to customers with the industry’s most complete and innovative offerings, and affirming, “we have already uncovered incremental potential opportunities”.
The company believes that the non- Generally Accepted Accounting Principles (GAAP) results, that is, results excluding certain charges or one-time events, described in this release for the third quarter, 2004, are useful for an understanding of its ongoing operations because GAAP results include financial results not expected to be part of the company’s ongoing business.He enlightened that APC does not currently believe the charge for excess inventories and the reduction in income tax recorded during the third quarter 2004, will reoccur in future quarters, declaring that non-GAAP results are not a substitute for GAAP results.
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