Applied Digital Access Announces Joint Development Agreement with Nortel.SAN DIEGO--(BUSINESS WIRE)--Oct. 6, 1997--Applied Digital Access Inc. (ADA Ada, city, United States Ada (ā`ə), city (1990 pop. 15,820), seat of Pontotoc co., S central Okla.; inc. 1904. It is a large cattle market and the center of a rich oil and ranch area. )(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADAX) announced today that it has entered into a joint development agreement with Nortel (Northern Telecom), to develop unique SONET network products for the telecommunications industry. Nortel and ADA will each contribute technology and development resources to projects that are conducted under the joint development agreement. The companies will equally share development costs, estimated to be several million dollars per quarter. Development of the first product under the joint development agreement has commenced with initial availability expected in the first half of 1999. The agreement also contemplates additional projects as agreed to in the future by ADA and Nortel. Nortel works with customers worldwide to design, build and integrate digital networks -- for information, entertainment, education and business -- offering one of the broadest choices of network solutions in the industry. Nortel had 1996 revenues of $US 12.8 billion and has approximately 68,000 employees worldwide. Applied Digital Access is a leading provider of Network Performance Management products that include systems, software, and services used to manage the quality, performance, availability and reliability of telecommunications service In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. providers' networks. These products enable telecommunications service providers to improve quality of service, increase productivity and lower operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. . The company is headquartered in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . Press releases and other information about Applied Digital Access and its products and services are available at http://www.ada.com on the Internet. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Except for historical information contained in this release, the preceding may contain forward-looking statements that involve potential risks and uncertainties as detailed in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ending 12/31/96 and the most recent Form 10-Qs, which include the concentration of major customers, telephone company qualification requirements, high dependence on two product lines, competition, management of changing business, mergers, rapid technological change and dependence on new products, dependence on suppliers and subcontractors, need to make advance purchase commitments, government regulation, proprietary technology, dependence on key personnel and volatility of stock price. The Company's actual results could differ materially from those discussed in this release. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. The Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this release. CONTACT: Applied Digital Access Pete Savage or Steve Murphy Steve Murphy (born 1957-09-09) is a State Senator for the 28th district of Minnesota, and a member of the Democratic-Farmer-Labor Party. He represents parts of Goodhue, Wabasha, and Winona counties in the south-eastern portion of Minnesota. , 619/623-2200 or The Townsend Agency Susan Caroppo, 619/457-4888 |
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