DataMetrics Corporation Announces New CEO Acts Quickly to Restructure Company; Positions Company for Growth and Profitability.Business Editors ORLANDO, Fla.--(BUSINESS WIRE)--June 7, 2001 DataMetrics Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : DMTR DMTR Dounreay Materials Testing Reactor DMTr dimethoxytriphenylmethyl chloride ): Daniel Bertram, new President and Chief Executive Officer of DataMetrics Corporation, announced today his 10-point plan to restructure the company for growth and profitability. Key elements of Mr. Bertram's plan include a significant reductions in personnel costs, the integration of all corporate functionality into its Orlando, FL headquarters, and possible divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of the Orlando property owned by the company. Additionally, Mr. Bertram announced that the company will be separated into three distinct divisions: DataMetrics: The name "Datametrics" (now DataMetrics(TM)) will be retained for rugged systems division marketed primarily to the aerospace and defense industries. DataMetrics will also receive an updated corporate logo. Vizzix Systems (TM): Will contain the commercial/industrial segment of DataMetrics, (Condor, IPS (1) (Inches Per Second) The measurement of the speed of tape passing by a read/write head or paper passing through a pen plotter. (2) (IPS) (Intrusion Prevention S 3300) and will serve targeted sectors of the commercial/industrial printing industry. MadeMyWay (TM): Will be a high-end personalized apparel, and promotional product supplier serving clients through direct sales and e-commerce. Mr. Bertram said he plans to seek joint venture partners for both its MadeMyWay (TM) and Vizzix Systems (TM) divisions to better focus on the military, defense and aerospace markets. "Our core business, ruggedized products and systems, has grown rapidly, but we have not enjoyed the profits from these successes because of our operational inefficiencies and lack of focus." Personnel costs have been reduced by 35%, offices in Parsippany, NJ and Waynesboro, PA have been closed, and plans to open offices in California and England have been canceled. "The combination of sales growth, increased efficiency, and a clear plan for the future bodes very well for our company", Mr. Bertram said. DataMetrics Corporation is a leader in ruggedized computers, printers, and integrated systems for government, defense and aerospace markets. DataMetrics also designs, develops and manufactures high-speed color, non-impact printers/plotters for specialized industrial applications. DataMetrics Corporation is headquartered in Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. . Except for the historical information contained herein, the matters discussed in this press release are 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. made pursuant to 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. These statements involve risks and uncertainties, such as quarterly fluctuations in operating results, the timely availability of new products, the impact of competitive products and pricing, and other risks detailed in the Company's filing ith the Securities and Exchange Commission, including the Company's 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 October 29, 2000. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made in this press release. |
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