DPAC Technologies Sells Industrial, Defense and Aerospace Product Line.Business Editors/High-Tech Writers GARDEN GROVE, Calif.--(BUSINESS WIRE)--May 11, 2004 DPAC DPAC Denver Performing Arts Complex (CO, USA aka: DCPA) DPAC Deferred Policy Acquisition Costs (insurance) DPAC District Parent Advisory Committee DPAC Dover Partnership Against Crime Technologies (Nasdaq:DPAC): -- DPAC moves to concentrate future efforts on wireless connectivity solutions -- DPAC receives cash and future consideration, with potential to net in excess of $1.0 million cash over the term DPAC Technologies (Nasdaq:DPAC) announced today that it has completed an agreement with Twilight Technology, Inc. of Brea, California, to sell the DPAC industrial, defense and aerospace product line for cash and future consideration over the next two years. The product line represented approximately 14% of DPAC's revenues in fiscal year 2004. "Twilight is well established in this market and has been a trusted partner with DPAC in serving this market segment over the past five years," stated Kim Early, DPAC's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Their commitment to the product line will ensure that DPAC will continue to receive substantial economic benefit from the on-going revenue stream, while allowing us to focus more of our management effort on our sales of wireless connectivity solutions for 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 products." "Acquiring DPAC's Industrial, Defense and Aerospace product line is an important element in Twilight's strategic plan for expansion and growth," stated Randall Greene, Twilight's president and CEO. "Twilight will leverage DPAC's proprietary stacking technology to broaden the product line and customer base." Greene continued, "With our European partner Force Technologies, LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability ., we are optimistic about our future opportunities and the value this transaction will deliver to both Twilight Technology and DPAC Technologies." DPAC is continuing to refocus its business to aggressively pursue revenue from the Airborne(TM) 802.11 wireless products. Airborne is a broad line of 802.11b Wi-Fi products designed to provide wireless network solutions to OEMs, and has proven applications in the agriculture, automotive diagnostics, commercial transportation, factory automation, homeland security, industrial controls, medical, and point-of-sale industries. Since its announcement to the marketplace only a few months ago, numerous design wins have been achieved and some production orders already shipped. About DPAC Technologies Located in Garden Grove, California Garden Grove is a city centrally located in northern Orange County, California, United States. As of 2004, the city population was 170,000 people. California State Route 22, also known as the Garden Grove Freeway, passes through the city from east to west. , DPAC Technologies provides wireless networking solutions for OEM applications and a diverse portfolio of patented component packaging technology for high-density, space-saving memory and solutions for digital image enhancement See image editing. . DPAC's products are used in electronic circuits found in network servers, computer storage devices, medical instrumentation, communication devices, refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. controls, automotive diagnostic equipment and other advanced equipment. The Company's web site address is www.dpactech.com. About Twilight Technology Located in Brea, California, Twilight Technology designs and manufactures new and obsolete semiconductor products in commercial, industrial and military grade levels. Twilight's broad product line ranges from relatively simple two-terminal discrete devices, to complex Application Specific Integrated Circuits (ASIC's) and proprietary high-density packaging technology. The Company's website address is www.twilighttechnology.com. Forward-Looking Statements This press release includes forward-looking statements, including statements regarding technology development, expansion and business plans that are subject to change, uncertainties and risks. Every statement herein that is not historic in nature is a forward-looking statement for purposes of the 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. provisions 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. Such statements involve risks and uncertainties, and therefore results may differ materially from those set forth in these statements. Factors that affect DPAC's business include, but are not limited to, the degree of market acceptance of our existing and planned wireless connectivity products, future business opportunities with these products, the IDA Ida (ē`dä), city (1990 pop. 91,859), Nagano prefecture, central Honshu, Japan, on the Tenryu River. It is an agricultural market and railway junction. market and prospects for future considerations under this agreement, protection of licensed technology or proprietary rights, risks of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and general market and economic conditions. More information about the risks and challenges faced by DPAC Technologies Corp. is contained in the Securities and Exchange Commission filings made by the Company 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. , 10-Q and 8-K. DPAC Technologies Corp. specifically disclaims any obligation to update or revise any forward-looking statements whether as a result of new information, future developments or otherwise. |
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