Cumetrix Data Systems Submits Application to Begin Trading on Nasdaq National Market.INDUSTRY, Calif.--(BUSINESS WIRE)--July 8, 1998--Cumetrix Data Systems Corp. (Nasdaq:CDSC See Contingent deferred sales charge. ) Wednesday announced that it has filed an application to list its common stock on the Nasdaq National Market System (Nasdaq NMS See NetWare Management System. ). "We view the listing on the Nasdaq National Market as an important milestone in our progress towards enhancing value for our shareholders. We believe the move to Nasdaq NMS will provide the company with greater visibility in the investment community and importantly, increased access to the institutional audience. "Furthermore, the listing is expected to significantly reduce future regulatory and public filing expenses associated with 'blue sky' requirements that Nasdaq Small Cap listed companies must satisfy," said Max Toghraie, chief executive officer of Cumetrix Data Systems. Recently, the company filed its 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. with the Securitites and Exchange Commission, which reported revenues of approximately $72.5 million and pretax income pretax income Reported income before the deduction of income taxes. Pretax income is sometimes considered a better measure of a firm's performance than aftertax income because taxes in one period may be influenced by activities in earlier periods. of $1.3 million for the fiscal year ending March 31, 1998. Although the company expects the shares to begin trading on Nasdaq NMS by mid - to late-August, the final approval of the company's common stock for quotation on the Nasdaq NMS is within the discretion of The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. Inc. and cannot be guaranteed by the company. Until the company's common stock is approved for quotation on the Nasdaq NMS, the shares will continue to be quoted on the Nasdaq Small Cap Market under their current symbol. Cumetrix Data Systems is a national provider of computer products, peripherals and configuration services. Using licensed proprietary software, the company has developed the Automated Custom Systems Assembly (ACSA ACSA Association of Collegiate Schools of Architecture ACSA Association of California School Administrators ACSA Airports Company South Africa ACSA Apple Certified System Administrator ACSA Australian Curriculum Studies Association ) process to offer low cost, high speed, accurate configuration solutions within its domestic and international markets. The company has headquarters in Industry. With the exception of historical information, the statements in this news release contain certain 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. that involve a number of risks and uncertainties. Actual events or results may differ materially from the company's expectations due to various factors, including possible rejection of the company's NMS listing application by Nasdaq Stock Market for reasons the exchange may deem appropriate. The risks highlighted herein should not be assumed to be the only things that could affect the future performance of the company. Additional explanation of these factors and other factors affecting the company's performance are set forth from time to time in the company's filings with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission.
CONTACT: Cumetrix Data Systems Corp., Industry
Max Toghraie, 626/965-6899
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