- Black Box Catalog
- Cabinets, Racks & Enclosures
- Carts & Storage
- Control Systems
- Digital Signage
- Jacks, Panels, & Hardware
- Power Solutions
- Premises Security
- Testers & Tools
- Video & Multimedia
- Voice Communications
PITTSBURGH, PENNSYLVANIA, July 16, 2018 - Black Box Corporation (NASDAQ:BBOX), a leading digital solutions provider dedicated to helping customers design, build, manage and secure their IT infrastructure, today reported results for the fourth quarter of Fiscal 2018 and twelve-month period ended March 31, 2018.
“I have spent the last few weeks visiting with customers and hearing about the critical and valued services we are providing,” stated Joel Trammell, President and CEO. “I have assured them as well as our vendors and employees that we have many work streams in process that are intended to restore the profitability and financial health of Black Box. Our Credit Agreement Amendment was only step one. The sale of our Federal Business will be step two. As mentioned in our Form 10-K, the next steps include plans to potentially restructure, refinance and/or sell additional assets. Of course, during this time, we are also working to improve the operating profitability and cash flow of our Company.”
“I am pleased with our operating results given the issues we have been dealing with as noted in our recent filings,” continued Mr. Trammell. “This quarter marks the fourth consecutive quarter where revenue has been relatively flat. Our operations teams have done a great job of remaining focused on serving our clients well, despite the distractions. I would like to acknowledge our lenders for providing us the additional support to smoothly operate our business. Additionally, I thank our customers, vendors, suppliers and team members who continue to support our efforts. They are the reason I am proud to be leading Black Box.”
Mr. Trammell concluded by saying, “While we continue to face many challenges, our expectations for the first quarter of Fiscal 2019 is for flat to slightly lower revenues and improved gross profit margin.”
A replay of the audio webcast will be available at http://investor.blackbox.com/events.cfm for a limited period of time.
Black Box is a leading digital solutions provider dedicated to helping customers design, build, manage and secure their IT infrastructure. Black Box delivers high-value products and services through its global presence and 3,264 team members. To learn more, visit the Black Box Web site at http://www.blackbox.com.
Black Box® and the Double Diamond logo are registered trademarks of BB Technologies, Inc.
For more details, view the official investor press release.
Black Box Corporation
David J. Russo
Senior Vice President and Chief Financial Officer
Phone: (724) 873-6788
Any forward-looking statements contained in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and speak only as of the date of this release. You can identify these forward-looking statements by the fact that they use words such as "should," "anticipate," "estimate," "approximate," "expect," "target," "may," "will," "project," "intend," "plan," "believe" and other words of similar meaning and expression in connection with any discussion of future operating or financial performance. One can also identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. Although it is not possible to predict or identify all risk factors, they may include, among others, liquidity, compliance with bank covenants, our going concern qualification, the Company's arrangements with its vendors and subcontractors, levels of business activity and operating expenses, expenses relating to compliance requirements, cash flows, global economic and business conditions, the timing and costs of restructuring programs and other initiatives, such as our enterprise resource planning system initiatives, successful marketing of the Company's product and services offerings, successful implementation of the Company's integration initiatives and successful implementation of the Company's government contracting programs, as well as competition, changes in foreign, political and economic conditions, fluctuating foreign currencies compared to the U.S. dollar, rapid changes in technologies, client preferences, government budgetary constraints and various other matters, many of which are beyond the Company's control. Additional risk factors are included in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2018, filed contemporaneously with this Form 8-K. We can give no assurance that any goal, plan or target set forth in forward-looking statements will be achieved and readers are cautioned not to place undue reliance on such statements, which speak only as of the date made. We undertake no obligation to release publicly any revisions to forward-looking statements as a result of future events or developments and caution you not to unduly rely on any such forward-looking statements.