Circuit Research Labs, Inc. Makes Announcement.TEMPE, Ariz.--(BUSINESS WIRE)--March 9, 1999--Circuit Research Labs, Inc. ("OTC/BB:CRLI CRLI Communist Revolutionary League of India CRLI Certificate Revocation List Identifier ") announced today that the Company is curtailing the production of its products effective immediately. It will continue to sell its inventory. The high cost of marketing the Company's products worldwide has resulted in operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. for the last 5 out of 6 years. The Company's Board of Directors has proposed dissolution of the Company subject to a vote of the shareholders as per Arizona law. The shareholders will be notified and the vote will take place in the near future. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of 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. Management's anticipation of future events is based upon assumptions regarding levels of competition, research and development results, raw material markets, the markets in which the Company operates, and stability of the regulatory environment. Any of these assumptions could prove inaccurate, and therefore there can be no assurance that the forward-looking information will prove to be accurate. Circuit Research Labs, Inc. manufactures and markets high quality electronic audio processing, transmission encoding See encode. and noise reduction equipment for the worldwide radio, television and professional audio markets. |
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