Comdisco Comments on Pontikes Trust Stock Sales.Business Editors ROSEMONT, Ill.--(BUSINESS WIRE)--March 22, 2001 Comdisco Inc, (NYSE NYSE See: New York Stock Exchange :CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the ), today noted that Nicholas K. Pontikes, former president and chief executive officer, announced on March 19, 2001, that certain trusts for which the members of the Pontikes family are beneficiaries and/or trustees sold 1 million shares of Comdisco common stock. The family trusts also entered into a trading program complying with Rule 10b5-1 to cover sales of an additional 2.5 million shares of Comdisco stock held by the trusts. The Pontikes family cited the sales as part of an asset diversification plan and expressed that its continued significant investment in Comdisco indicates complete confidence in the company and its leadership. "Our outlook as stated in our January 31, 2001 conference call remains firm. Our number one goal is to rebuild credibility, earn the confidence of the capital markets, reduce debt and increase equity," said John J. Vosicky, Comdisco's executive vice president and chief financial officer. "We currently have in excess of $350 million of cash on hand. We have paid down $320 million in unsecured senior debt in our fiscal second quarter, and more than $850 million in unsecured senior debt since the beginning of our fiscal year on October 1, 2000." Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. : The foregoing 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. regarding Comdisco, which are based on current expectations and assumptions, and which involve risks and uncertainties that could cause results to differ. The company intends that such forward-looking statements be subject to the safe harbor created by Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. The following lists some of the factors, which could cause results to differ from expectations. The company's liquidity depends, in part, on its access to capital markets, specifically medium-term and senior notes, and commercial paper, and on its lines of credit. If the company were not able to refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. its indebtedness or obtain new financing under these circumstances, the company would have to consider other options, including: sales of some assets; sales of equity; negotiations with lenders to restructure applicable indebtedness; or other options available to the company under applicable law. Further, the Company's cash flow from operating activities is dependent on a number of variables, including, but not limited to, the ability of the Company to implement its strategic plan and respond to external market conditions, the ability of the Company 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 the securities held by Comdisco Ventures, timely payment by its customers, global economic conditions and controlling operating costs operating costs npl → gastos mpl operacionales and expenses. For a detailed discussion of these and additional factors that would cause results to differ please refer to the company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended 9/30/00 and its latest Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the Quarter ended 12/31/00 and the company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise. About Comdisco Comdisco (www.comdisco.com) provides global technology services to help its customers maximize technology functionality, predictability and availability, while freeing them from the complexity of managing their technology. The Rosemont, (IL) company offers a complete suite of information technology services including business continuity, managed web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. , storage, and IT Control and Predictability Solutions(SM). Comdisco offers equipment solutions to key vertical industries, including semiconductor manufacturing and electronic assembly, healthcare, telecommunications, pharmaceutical, biotechnology and manufacturing. Through its Ventures division, Comdisco provides equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion