The firm says revenue and earnings guidance for the fourth quarter and full year 2001 also will be affected by recent events, but it can't quantify the effects right now.
Our hearts and thoughts go out to everyone affected by the terrible events, says Inrange president and CEO Greg R. Grodhaus. As we turn our attention back to running our business, we and other companies in our industry are just now starting to understand the potential impact of this tragedy on our markets."
That impact has already been felt in several key areas. Last Tuesday's tragic events have delayed customer buying decisions and restricted the company's ability to make any follow-up sales efforts. That combination is a tough one for companies like Inrange that rely on direct sales, as opposed to OEM or distributor agreements.
Inrange has also suffered the indefinite closure of its largest worldwide sales office, which is adjacent to the World Trade Center site. In addition, international shipments, which represent about 40 percent of Inrange's revenues, have been put on hold due to limited air freight availability.
On the plus side, however, the guidance reduction doesn't appear to have kept the company from making at least one strategic move -- purchasing eB Networks (see Inrange Snaps Up Services Firm).
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