Datametrics announces joint venture alternative accord.WOODLAND HILLS, Calif.--(BUSINESS WIRE)--July 23, 1996-- Datametrics Corporation (AMEX AMEX See: American Stock Exchange :DC) today announced it has reached an accord with International Imaging Materials, Inc. (IIMAK) (Nasdaq NM: IMAK) that replaces the proposed joint venture. Datametrics has exercised an option under its existing agreement wherein where·in adv. In what way; how: Wherein have we sinned? conj. 1. In which location; where: the country wherein those people live. 2. IIMAK will begin implementing a drop-ship program that expedites shipment of ribbon supplies directly to CYMax customers. Under the terms of the agreement, IIMAK will continue to sell CYMax ribbons exclusively to Datametrics and drop-ship ribbons directly to CYMax customers as designated by Datametrics. Additionally, IIMAK will continue to promote CYMax ribbons through its sales and marketing program. Sidney Sidney, city (1990 pop. 18,710), seat of Shelby co., W central Ohio, on the Great Miami River, in a farm area; founded 1811, inc. 1834. Refrigerator parts and machinery are among the items produced there. E. Wing, president and chief executive officer of Datametrics, stated, "By exercising this option, we have expanded our arrangement with IIMAK, which enables us to deliver supplies to our customers in a timely manner while minimizing our inventory requirements and preserving our direct access to CYMax customers. In addition, this arrangement will benefit both Datametrics' revenues and margins going forward as they relate to sales of CYMax consumables." Datametrics will distribute a wide range of paper stocks and other media used by CYMax printers through similar drop-ship arrangements with its suppliers. Datametrics Corporation is a 33-year-old producer of computer peripherals and communications products for industrial, commercial and governmental markets. The Company is primarily engaged in the design, development, manufacture and sale of high-speed high-speed adj. 1. Operated or designed for operation at high speed: a high-speed food processor. 2. Taking place at high speed: a high-speed chase. 3. color printers A printer that prints in color using three (CMY) or four (CMYK) colors of ink, toner or dye. Four color ribbons have been used in dot matrix printers, but these are rare today. See color laser printer and printer. , high-resolution non-impact printer/plotters, ruggedized computers and workstations, and data entry keyboards. "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. " Statement under 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: The statements contained in this release which are not historical facts 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. that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including delays in completion of the Company's product offerings, introductions of competing products, cancellations of orders, the availability of adequate working capital to finance the development, manufacture and marketing of products, general market acceptance of the Company's CYMax printers, fluctuations in margins, customer reorganizations, demand fluctuations, and other risks detailed in the Company's Securities and Exchange Commission filings. CONTACT: Sidney E. Wing President and Chief Executive Officer 818/598-6200 or Eugene G. Heller Silverman Heller Associates 310/208-2550 |
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