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eXcelon Completes Restructuring and Updates Fourth Quarter Revenue Projections.

Publication: Business Wire
Publication Date: 09-JAN-02 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business/Technology Editors

BURLINGTON, Mass.--(BUSINESS WIRE)--Jan. 9, 2002

eXcelon Corporation (Nasdaq: EXLN) today announced that revenue for the fourth quarter ended December 31, 2001 is expected to be in the range of $13.6 to $14.1 million, below the guidance of $16 to $17 million given on the October 30, 2001 conference call. EPS for the fourth quarter 2001 will be in the range of $0.09 to $0.10 loss per share; previous guidance provided in October 2001 predicted a $0.05 to $0.09 loss per share. The Company expects its year ending cash balance to be approximately $28 million.

eXcelon will announce final Q4 2001 and year-end results on February 13, 2002.

As part of its new organizational strategy announced last month, eXcelon will reduce its workforce by 25% during the first quarter of 2002. This reduction in force reflects improved efficiencies resulting from the merger of eXcelon and C-bridge and the consolidation of the Object Design and eXcelon divisions. The impact of this adjustment, as...

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