Eden Praire, Minn., November 15, 2000 - FieldWorks Inc. (OTCBB: FWRX) a leading solution provider and mobile computer supplier for demanding field applications, today reported 2000 third quarter revenue of $3.4 million as compared to the 1999 third quarter revenue of $4.8 million. For the three quarters ended October 1, 2000, revenue decreased from $18.3 million to $11.8 million over the same period last year. The decrease was due to cash constraints by the Company that delayed ordering of parts by our outsource partners and the subsequent delays in shipments. Additionally, the Company experienced delays in the introduction of its FW8000 workstation which negatively impacted sales for the first two quarters of fiscal year 2000.
The Company reported a net loss for the quarter of $7.3 million or $.82 per share as compared to the 1999 third quarter loss of $2.3 million or $.26 per share. Year to date net loss applicable to common shareholders for 2000 was $13.3 million or $1.50 per share as compared to $4.0 million or $.45 per share in 1999.
FieldWorks, Inc., founded in 1992, designs, sells and supports computer solutions in field environments including transportation, public service, military/government and heavy equipment industries worldwide. FieldWorks provides a complete solution to customers that includes product customization, integration and customer support services. FieldWorks products are designed and produced in compliance with its formal quality system, which is certified to the international ISO9001 quality. The company is based in Eden Prairie, Minnesota.
FieldWorks headquarters are at:
7631 Anagram Drive, Eden Prairie, MN 55344
Internet Address: www.field-works.com;
Telephone: (612) 974-7000
Fax: (612) 974-7199
Forward-looking statements in this news release, if any, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the statements, including the impact of changing economic or business conditions, the impact of competition, the availability of financing, the success of products in the marketplace, other risk factors inherent in the computer industry and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.