Black Box Corporation Announces Letter of Intent to Merge With Comm Line, Inc.; Remains Committed to $125M Revenue Goal for FY00.PITTSBURGH--(BUSINESS WIRE)--July 14, 1999-- Black Box Corporation (Nasdaq:BBOX) today announced that it has signed a letter of intent to merge with Comm See comms. Line, Inc., with a closing date on or before August 12, 1999. Established in 1986 and based in Cincinnati, Ohio “Cincinnati” redirects here. For other uses, see Cincinnati (disambiguation). Cincinnati is a city in the U.S. state of Ohio and the county seat of Hamilton County. , privately-held Comm Line provides technical design, installation and maintenance services for premise cabling and related products to customers primarily in Cincinnati Cincinnati (sĭnsənăt`ē, –năt`ə), city (1990 pop. 364,040), seat of Hamilton co., extreme SW Ohio, on the Ohio River opposite Newport and Covington, Ky.; inc. as a city 1819. and Austin, Texas. Annual revenues of Comm Line approximate $15 million. This will be the seventeenth merger since January 1998 and the third of Fiscal Year 2000 as Black Box continues to expand its worldwide technical support service. Commenting on the merger, Fred C. Young, Chief Executive Officer of Black Box Corporation, stated, "Comm Line is a well-established operation with an excellent reputation for high quality technical services. We are very excited about Comm Line joining the Black Box family." Charles L. Smith, James Smith, James, American political leader Smith, James, c.1719–1806, political leader in the American Revolution, signer of the Declaration of Independence, b. Ireland. He settled in Pennsylvania in his youth and practiced law at York. H. Courtney and Vincent J. Gilday, Jr., owners of Comm Line, said, "We are extremely excited about the opportunities this relationship offers and look forward to merging with a company that has the same commitments to high quality customer service and relationships that we have." Mr. Smith will continue to serve as Chairman of Comm Line, Mr. Courtney will continue to serve as President and Mr. Gilday will continue to serve as Vice President and Chief Financial Officer. Mr. Young went on to say, "We remain committed to achieving our on-site services 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. revenue goal of $125M by fiscal year-end Fiscal Year-End The completion of a one-year, or 12-month, accounting period. Notes: The reason that a company's fiscal year often differs from the calendar year and does not close on Dec 31, is due to the nature of company's needs. . High customer acceptance and additional geographic expansion opportunities should support achieving this goal." Black Box is a leading worldwide technical service provider of computer communications and networking services and related products to businesses of all sizes, operating in 77 countries throughout the world. |
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