BARTON, FERDMAN ELECTED OFFICERS OF NETWORK LONG DISTANCE, INC.BATON ROUGE Baton Rouge (băt`ən r zh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. , La.--(BUSINESS WIRE)--Jan. 13, 1997--The board of directors of Network Long Distance Inc. (NASDAQ NASDAQin 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 : NTWK) announced today it has elected Timothy A. Barton as president and a director of this switch-based, inter-exchange carrier (communications) inter-exchange carrier - (IXC) A company allowed to handle long-distance calls following the break-up of the Bell system in the US by anti-trust regulators. . In addition, David H. Ferdman was named vice president, operations and an advisor to the board. Barton and Ferdman previously held similar positions with United Wats Inc. of Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo., which recently merged into and became a wholly-owned subsidiary of NTWK. NTWK will host an "open line" conference call today, Monday, to introduce Barton and Ferdman to investors. The call will be held at 11 a.m. Eastern Time (10 a.m. Central/9 a.m. Mountain/8 a.m. Pacific). Shareholders, prospective investors, security analysts, the brokerage community, the news media and other parties are welcome to participate by dialing, toll-free, 800-946-0741. International callers should dial 1-913-448-2046. "We are very pleased to have Barton and Ferdman assume a more active role in the ongoing operations and long-term strategic direction of our combined organization," said Michael M. Ross, chief executive officer and co-founder of NTWK along with Marc I. Becker, executive vice president. "In addition, Barton and Ferdman will be working closely with Louis J. Resweber, executive vice of NTWK and president of our mergers and acquisitions subsidiary in further expanding NTWK's role in the ongoing consolidation of the telecom industry." NTWK, founded in 1979, has in recent years pursued a strategy of growth through mergers and acquisitions (M&A) -- complemented by the development of specific marketing niches. "Of the fifteen M&A transactions we have completed -- and the hundreds of opportunities we've reviewed and considered -- United Wats stood out from the pack as one of the fastest-growing and most profitable enterprises we have encountered in this industry," said Ross. "The success United Wats has achieved, through its unique niche of developing and administering long distance programs for members of commercial trade associations, now gives our combined companies another tremendous prospect for future growth, while also affording us the opportunity to maximize their specific management talents and operational expertise." Under the direction of Barton and Ferdman, United Wats has grown tremendously. In the past two years, sales have increased from $2.4 million in 1994 to more than $21 million in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues today. In 1996 alone, United Wats reported a net growth rate in excess of 79%. United Wats has reported increased profitability each year it has been in business, and operates at a gross margin of nearly 30%. In 1996, United Wats reported more than $1.5 million in pre-tax, non-adjusted income. Reflecting the nature of its affinity-derived, larger volume commercial customers -- and the success of its pro-active customer retention program -- United Wats has been successful in establishing a high-quality base of long-term business accounts characterized char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. by a monthly customer attrition Customer attrition, also known as customer churn, customer turnover, or customer defection, is a business term used to describe loss of clients or customers. rate of less than 2% and bad debt write-offs of less than eight-tenths of 1%, both well below the industry average. Barton, a native of Chicago, and Ferdman, a native of St. Louis, both graduated from the University of Kansas The University of Kansas (often referred to as KU or just Kansas) is an institution of higher learning in Lawrence, Kansas. The main campus resides atop Mount Oread. in Lawrence. Barton also holds a masters degree in finance from Louisiana State University Louisiana State University and Agricultural and Mechanical College, generally known as Louisiana State University or LSU, is a public, coeducational university located in Baton Rouge, Louisiana and the main campus of the Louisiana State University System. in Baton Rouge. Network Long Distance offers digital switch-based and switchless service to direct customers, independent agents and other long distance firms. Its stock trades on the NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol "NTWK." CONTACT: Network Long Distance Inc., Baton Rouge Louis J. Resweber, 504/377-2111 or 800/321-NTWK lou@ntwk.net |
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