Corporate Profile for Vitech America Inc., dated Jan. 8, 1999.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: Jan 8, 1999
Company Name: Vitech America Inc.
Address: 8807 Northwest 23rd St.
Miami, FL 33172-2419
Main Telephone
Number: 305/477-1161
Internet Home
Page Address
(URL) www.vitech.net
Chief Executive
Officer: Georges C. St. Laurent III
President & COO: William C. St. Laurent
Chief Financial
Officer: Edward Kelly
Investor Relations
Contact: Gale Blackburn, Senior VP IR and Corporate
Communications
Business number: 305/716-7745
Trading Symbol/
Exchange: VTCH/Nasdaq
Industry: Hi-Tech; Computers
Company description: Vitech America Inc. (Nasdaq:VTCH) is a manufacturer and direct marketer of its own brand name personal computers, business systems integration and networking equipment, servers and related products in Brazil under the names: Microtec(tm) (Mythus mythos, mythus 1. myth. 2. mythology. 3. the interrelationship of value structures and historical experiences of a people, usually given expression through the arts. See also: Mythology (tm), Quest(tm), Spalla(tm) and Vesper(tm)) and Vision(tm). In addition, Vitech's Systems Integration Group designs, installs and provides ongoing services for local-area (LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. ) and wide-area (WAN) networks. As a licensed direct OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and supplier of Intel's Pentium(r) processors, Vitech is one of the leading companies in Brazil offering a complete solution from low-end Pentium workstations to high-end integrated networks A network that supports both data and voice and/or different networking protocols. See converged network and new public network. powered by multi-processor superservers. Vitech was founded in 1993 and became a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. in November 1996. Incorporated in the State of Florida, Vitech has 1,000 employees worldwide. The company is headquartered in Miami with a corporate staff of 30, while the remaining Vitech employees are located at the factory in Bahia, Brazil. The factory was opened in 1995. During 1998, a $8 million investment was made to upgrade and install additional state-of-the-art manufacturing surface mount technology (SMT (1) (Surface Mount Technology) See surface mount. (2) (Station ManagemenT) An FDDI network management protocol that provides direct management. Only one node requires the software. SMT - Station Management ) lines, significantly increasing production capacity and improving quality control while reducing production costs. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the International Data Corporation (IDC) statistics for the past 15 months through Sept. 30, 1998, Vitech was the second largest manufacturer and direct marketer of computers and integrated solutions in Brazil with an 8.3% market share. Vitech sold a record 73,000 units for the first nine months of 1998, serving all channels of distribution from the corporate and government sectors to SoHo and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the markets. 1997 revenue was $117.5 million and net income was $12.8 million. Third quarter 1998 year-to-date revenue was $119.8 million and net income was $11.7 million. |
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