Westell Technologies, Inc. (NASDAQ:WSTL), a leading provider of broadband access products, gateways and conferencing services, today announces an end to joint development of the Verizon One product with Verizon Communications Inc. (NYSE:VZ). Westell will complete its orders for Verizon One over the next month, and the companies will each pursue independent development and marketing strategies for their respective multimedia terminal product programs. Westell continues as Verizon's primary supplier of DSL modems and gateway products.
Westell Technologies, Inc., (NASDAQ:WSTL) headquartered in Aurora, Illinois, is a Broadband Access Solutions company that provides leading broadband products, service solutions, and conferencing solutions for carriers, service providers and business enterprises around the world. Westell delivers innovative, open broadband solutions that meet the market's needs for fast and seamless broadband connection. ConferencePlus, a Westell subsidiary, offers conferencing services including voice, video, and IP data conferencing, to carriers and multi-national corporations throughout the world. For more information visit www.westell.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act 1995:
Certain statements contained herein including, without limitation, statements containing the words "believe," "on track," " anticipate," "committed," "expect," "estimate", "await," "continue," "intend," "may," "will," "should," and similar expressions are forward looking statements that involve risks and uncertainties. These risks include, but are not limited to, product demand and market acceptance risks, need for financing, the economic downturn in the U.S. economy and telecom market, the impact of competitive products or technologies, competitive pricing pressures, product development, excess and obsolete inventory due to new product development, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the effect of Westell's accounting policies, the need for additional capital, the effect of economic conditions and trade, legal social and economic risks (such as import, licensing and trade restrictions) and other risks more fully described in Westell's Annual Report on Form 10-K for the fiscal year ended March 31, 2006 under the section "Risk Factors." Westell undertakes no obligation to release publicly the result of any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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