Boca Research approved by Export-Import Bank of the U.S.; Ex-Im Bank southeast regional director joins-in signing ceremony.BOCA RATON, Fla.--(BUSINESS WIRE)--Feb. 21, 1996--Boca Research (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 :BOCI BOCI Bank of China International BOCI Buckner Orphan Care International ) Wednesday announced its approval by the Export-Import Bank of the United States Export-Import Bank of the United States (Ex-Im Bank) One of the principal U.S. government agencies in international finance. Originally incorporated as the Export-Import Bank of Washington in 1934, its goal is to help finance U.S. for export credit insurance. To facilitate the policy signing, the southeast regional director, James Morris, will attend the signing ceremony. The official document signing is scheduled to be held at Boca BOCA Building Officials and Code Administrators International, Inc. BOCA Bird Observers Club of Australia BOCA Business Object Component Architecture BOCA Borland Object Component Architecture (Borland) Research's headquarters facility, 1377 Clint Moore Road, Boca Raton, at 9:30 AM on Wednesday, Feb. 21. Members of the local press and photographers are invited to attend. Ex-Im Bank See Export-import Bank. Multi-Buyer Export Credit Insurance allows exporters of U.S. goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. to reduce their risks of selling abroad by insuring their foreign receivables. The policy coverage protects against political and commercial risks. Protected against loss, the exporter is usually able to arrange for attractive financing and, consequently, able to offer foreign buyers favorable and competitive credit terms Credit Terms The conditions under which credit will be extended to a customer. The components of credit terms are: cash discount, credit period, net period. . R. Michael Brewer, Boca's sr. vice president of finance and chief financial officer, noted: "Securing this insurance policy is a preventative shot in the arm to our international business. As we continue to develop our business worldwide, this policy gives us security and protection of our overseas customers' receivables and limits our bad debt liability. In short, it will let me sleep at night." Charles R. Kenmore, sr. vice president/general manager of international at Boca Research, commented: "We have ambitious, rapid global market expansion plans. In 1994, 14% of Boca's revenue was from international. By 1995, we built that number to 20%, and our current run-rate is greater than 30%. The U.S. Ex-Im Bank's policy approval of Boca will be a powerful tool. As a company of our size builds its international business, insurance such as this becomes increasingly important. Now we can develop business in markets of the world where there are risks as well as rewards by extending attractive credit terms, competing more successfully for international sales, and reducing the need for costly confirmation of letters of credit. This insurance helps to level the worldwide playing field." Martin A. Kamarck, the chairman designee des·ig·nee n. A person who has been designated. of the U.S. Export-Import Bank Export-import Bank (Ex-IM Bank) The U.S. federal government agency that extends trade credits to U.S. companies to facilitate the financing of U.S. exports. , commented: "Boca Research fits the profile of the type of company we are looking to insure--medium-sized, high-tech with an increasingly successful export program. We're pleased to extend this credit insurance from the U.S. Export-Import Bank." Kamarck was recently appointed to the chairman's position by President Clinton. His appointment is pending Senate confirmation. CORPORATE INFORMATION Boca Research (NASDAQ:BOCI), founded in 1985, is headquartered in Boca Raton with international operations and ventures worldwide. The company designs, manufactures, markets and supports quality, cost-effective data communications, multimedia and networking products to facilitate the transmission of information on personal computers and computer networks. The company provides hardware products augmented with software for use in the corporate, consumer and small office/home office See SOHO. marketplaces. Boca's current board-level enhancement and networking product categories include data communications (fax/data/voice modems); multimedia (video, telephony, sound, voice and data); networking; video graphics; and input/output (I/O (Input/Output) The transfer of data between the CPU and a peripheral device. Every transfer is an output from one device and an input to another. See PC input/output. I/O - Input/Output ), IDE and multiport products. The company sells its products worldwide through distributors, original equipment manufacturers (OEMs), and retailers. -0- Note to Editors: All products referred to herein are trademarks of their respective companies. In the World Wide Web address noted in this news release, there is a double slash between http: and www.boca.org and in the Internet/email address noted, there is an "at" symbol between galeb and boca.org. These symbols may not appear properly in some systems. CONTACT: Boca Research Inc., Boca Raton Gale Blackburn Investor Relations Manager 407/997-8621 ext. 305 voice http://www.boca.org galeb@boca.org |
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