CyberGuard Corp. cancels secondary offering of stock.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--Aug. 5, 1996--CyberGuard Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CYBG) Monday announced that due to the continuing unfavorable market conditions, it has decided to withdraw its perviously announced secondary offering of common stock. CyberGuard management believes that existing market conditions do not reflect the fundamental value of the company at its current share price. Therefore, management believes it is in the company's and its shareholders' best interest to cancel the proposed public offering of common stock. CyberGuard Corp., with headquarters in Fort Lauderdale, is the former Trusted Systems In the security engineering subspecialty of computer science, a trusted system is a system that is relied upon to a specified extent to enforce a specified security policy. As such, a trusted system is one which failure may break a specified security policy. Division of Harris Computer Systems Corp. CyberGuard develops commercial network security products designed to protect data on computer networks from access by unauthorized users. The company targets organizations in industries such as finance, healthcare, communication, education, manufacturing and government that require a proven security solution. The CyberGuard(tm) Firewall has an operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. and networking product that have been tested and certified See certification. by the National Computer Security Center (NCSC (National Computer Security Center) The arm of the U.S. National Security Agency that defines criteria for trusted computer products, which are embodied in the Orange Book and Red Book. ) at the B1 level of trust and by the National Computer Association (NSCA NSCA National Systems Contractors Association NSCA National Strength & Conditioning Association NSCA National Society for Clean Air and Environmental Protection (UK) NSCA National Street Car Association NSCA Nebraska Sprint Car Association ). CyberGuard Corp. is a publicly held company and traded on the NASDAQ National Market System under the symbol `CYBG.' Product and security information can be accessed via the company's World Wide Web site at http://www.cyberguardcorp.com. -0- Note to Editors: For additional company or product information from CyberGuard Corporation via fax, please call 800/344-4297; via Internet, access their home page at http://www.cyberguardcorp.com. CyberGuard and CyberGuard Firewall are trademarks of CyberGuard Corp. All other trademarks are property of their respective owners. In the World Wide Web address noted in this news release, there is a double slash between http: and www.cyberguardcorp.com. These symbols may not appear properly in some systems. CONTACT: CyberGuard Corp., Fort Lauderdale Lisa Thornhill - Media/Investor Relations 954/977-5615 or FitzGerald Communications Jennifer Costello - Media 617/494-9500 |
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