Datametrics Corporation Announces New Strategic Direction.Business Editors FLORHAM PARK, N.J.--(BUSINESS WIRE)--Jan. 28, 2000 Datametrics to Focus Exclusively Upon its High-Speed Condor(TM) and Harrier harrier, breed of dog harrier, breed of medium-sized hound whose origin is obscure but whose existence in England dates from the 13th cent. It stands from 19 to 21 in. (48.3–53.3 cm) high at the shoulder and weighs from 40 to 50 lb (18.1–22. (TM) Thermal Transfer See thermal wax transfer printer and direct thermal printer. Printers, and its MadeMyWay.com(TM) Internet-Based Subsidiary Engaged in the Customization and Personalization Custom tailoring information to the individual. On the Web, personalization means returning a page that has been customized for the user, taking into consideration that person's habits and preferences. of Apparel, Textiles and Specialty Imprinted Products The Board of Directors of Datametrics Will Propose to Shareholders a Change in the Company's Name to Mach 5 Technologies, Inc. Datametrics Corporation (AMEX AMEX See: American Stock Exchange : DC) today announced that its Board of Directors has approved a new strategic direction for the Company. Responding to the success of its high-speed Condor(TM) and Harrier(TM) thermal transfer printers; the enthusiastic reception received to MadeMyWay.com(TM), an internet-based subsidiary of the Company engaged in the fulfillment of customized and personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. apparel, textiles and specialty imprinted products primarily for the business-to-business e-commerce market; and the recent decline in military/defense purchases, the Company stated today that it will immediately seek buyers for its military/defense business and redirect its efforts exclusively to (a) the manufacture and marketing of the Condor(TM) and Harrier(TM) high-speed thermal transfer printers and (b) the management and operation of MadeMyWay.com.(TM) The Company's new strategic direction has resulted in a significant reduction in personnel although continuing customer support activities for the military/defense business will be unaffected. The Company also announced the closing of its research and development facility in Calabasas, California Calabasas is a city in Los Angeles County, California, in the western United States. As of the 2000 census, the city population was 23,123. The city was formally incorporated in 1991. . All research and development activity will be consolidated in the Company's 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. facility to allow the closer exchange of ideas and information among the Company's engineering, marketing and sales departments. The Board of Directors of Datametrics Corporation also approved and will propose to the Company's shareholders a change in the Company's name to Mach 5 Technologies, Inc. The name change will be presented for approval at this spring's annual meeting of the Company's shareholders. 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. Daniel P. Ginns, Chief Executive Officer of Datametrics Corporation, &uot;Datametrics has taken these bold steps because we believe that the exciting business opportunities before us with our Condor(TM) and Harrier(TM) thermal transfer printers and MadeMyWay.com(TM) demand that we commit our financial resources and efforts. The decision to withdraw from the military/defense business was based both on the opportunities and demands presented by our other businesses, and on the fact that we have seen a recent, dramatic decline of orders for our military/defense products which we do not project will be reversed. The funds which we will realize from the sale of our military/defense business will be deployed to bolster the marketing of our high-speed thermal transfer printers and our MadeMyWay.com(TM) operations. We believe that shareholder value will be maximized as a result of the actions we have taken today.&uot; Mr. Ginns continued, &uot;The Board of Directors has determined that a change in our corporate name is essential to reflect our new strategic direction. Accordingly, upon shareholder approval, Datametrics Corporation will become Mach 5 Technologies, Inc.&uot; The Company also reported that it had today filed Forms 8-K and 12b-25 reporting the decisions described above, as well as changes in the Company's Board of Directors and a delay in filing of its Fiscal 1999 Annual Report. Datametrics Corporation, the leader in concurrent thermal transfer technology, specializes in the design, development and manufacture of high-speed color printers and the management and operation of MadeMyWay.com(TM), a fulfillment center engaged in the personalization and customization of high quality apparel, textiles and specialty products primarily for the business-to-business e-commerce market.&uot; Datametrics has operations in New Jersey and Florida. 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, financing risks, the impact of competitive products and pricing, and other risks detailed in the Company's filing with 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 25, 1998. 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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