SOURCE: Channell Commercial Corporation

October 10, 2006 07:00 ET

Channell Provides Updated Financial Guidance

TEMECULA, CA -- (MARKET WIRE) -- October 10, 2006 -- Channell Commercial Corp. (NASDAQ: CHNL), a designer and manufacturer of telecommunications equipment supplied to operators of communications networks worldwide and water storage tanks distributed in markets throughout Australia, today announced updated financial guidance for the third quarter of 2006 ended September 30, 2006.

Revenue for the quarter is expected within the previously provided $27 million to $29 million range. On a GAAP basis, the company now anticipates at or near break-even bottom-line results versus the prior guidance of EPS in the $0.06-$0.09 range. William H. Channell, Jr., Chief Executive Officer of the Company, commented, "The expected sequential decline in demand from our core domestic Cable/Broadband and Telecom customers was more pronounced than initially anticipated. This, coupled with an unfavorable product mix and poor domestic fixed-cost absorption, caused our bottom-line performance to fall short of expectations. While we are disappointed with the overall results of the quarter, we are pleased that our Bushman Tanks business delivered a near break-even quarter."

The company expects to report final results in early November at which time it will provide updated financial guidance for the fourth quarter of 2006 and the full year.

About Channell

Channell Commercial Corporation is a designer and manufacturer of telecommunications equipment supplied to communications network operators worldwide and water storage tanks distributed in markets throughout Australia. Major product lines include a complete line of thermoplastic and metal fabricated enclosures, advanced copper termination and connectorization products, fiber-optic cable management systems and polyethylene water storage tanks. Channell's headquarters and U.S. manufacturing facilities are in Temecula, California. International operations include facilities in Toronto (Canada), London (U.K.) and various locations throughout Australia. Channell's website is www.channell.com

Contact Information

  • CONTACTS
    At the Company:
    Michael Perica
    Treasurer
    951-719-2600
    Email Contact

    Channell Commercial Corporation
    26040 Ynez Road
    Temecula, CA 92591
    Telephone: 951.719.2600