COMARCO Completes Plan to Divest Non-Wireless Businesses.Business Editors/High-Tech Writers IRVINE, Calif.--(BUSINESS WIRE)--Nov. 21, 2000 COMARCO, Inc. (Nasdaq:CMRO CMRO Current Medical Research and Opinion (journal) CMRO Concerned Motorcycle Riders of Ohio CMRO Canadian Mud Racing Organization CMRO Certified Medical Review Officer CMRO Complex Maintenance, Repair & Overhaul ) today announced the completion of the plan to divest its non-wireless businesses with the sale of the Company's airport services business. During the third quarter ended October 31, 1999, the Company embarked on a plan to dispose of To determine the fate of; to exercise the power of control over; to fix the condition, application, employment, etc. of; to direct or assign for a use. See also: Dispose its non-wireless businesses. Over the past 12 months, the Company closed six transactions that fully divested all non-wireless businesses. COMARCO's continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the consist solely of its wireless technologies subsidiary, Comarco Wireless Technologies, Inc. "With the final divestiture transaction closed, COMARCO is a pure wireless technologies company," said Tom Franza, COMARO COMARO Composite Magic-Angle Rotation president and chief executive officer. "The Company is well positioned to deploy the approximate $9 million in net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the disposition transactions in the high-growth wireless technologies industry." ABOUT COMARCO Based in Irvine, Calif., COMARCO, Inc. provides test and optimization products and services for wireless telephone carriers, systems for the wireless transmission of voice and data, and advanced technology products for portable wireless appliances such as notebook computers, cellular telephones and personal organizers. The Company's web sites can be found at www.comarco.com and www.chargesource.com. |
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