Dauphin Completes Suncoast Automation Acquisition.Business/Technology Editors PALATINE, Ill.--(BUSINESS WIRE)--July 10, 2001 Dauphin Dauphin, town, Canada Dauphin (dô`fĭn), town (1991 pop. 8,453), SW Man., Canada, on the Vermilion River. It is the retail and distribution center for an agricultural, lumbering, and fishing area. Technology Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). .BB:DNTK) announced today that it has completed the acquisition to purchase all the assets of Suncoast Automation, a subsidiary of ProtoSource (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 :PSCO PSCO Public Service Company of Colorado PSCO Philadelphia Seminar on Christian Origins PSCO Public Service Company of Oklahoma PSCO Presidential Commission on Sexual Orientation (NIU) PSCO Personnel Survey Control Officer ). Suncoast, a Florida-based provider of private, interactive cable systems, currently has nearly 4,000 units under long-term, 7-15 year, contracts to provide a bundled package of basic cable TV, premium programming, video games See video game console. and high-speed Internet access to the extended stay hospitality industry. Terms of the transaction were not disclosed. "The purchase of Suncoast Automation by Dauphin is the single best thing to happen for Suncoast since its inception," commented Mark Blanchard, Suncoast's Vice President and General Manager. "The combined resources of both companies make Suncoast a real player in the industry. Our organization is ecstatic over this opportunity." "Consistent with our strategy to aggressively pursue the hospitality marketplace, we completed the Suncoast acquisition rather quickly," stated Christopher Geier, Dauphin's Executive Vice President. "Not only are we excited to move set-top boxes through this channel, Suncoast has developed an innovative, compelling revenue model whereby property owners receive recurring revenues from additional programming fees and high speed Internet access. With the units already under contract and several pending contracts, the Suncoast division is projecting a $4 million run rate by year's end with a run rate of over $23 million and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become of $11 million for 2002," he continued. About Dauphin Technology, Inc. Dauphin Technology, Inc., a Palatine, Illinois-based technology company with facilities in McHenry, Illinois, and Schaumburg, Illinois, develops and markets broadband communication products and hand-held, pen based computers. About ProtoSource Corporation ProtoSource Corporation (NASDAQ: PSCO; PSCOW; PSCOZ), a full-service, publicly traded, Internet solutions provider, is committed to delivering outstanding service and support to its customers, community, employees and shareholders. Through its Fresno-based, psnw.com division, it offers business and residential DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary , Web site design, development and hosting and outsourced technical support for Internet Service Providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISPs). Certain matters discussed in this news release are forward-looking statements involving certain risks and uncertainties including, without limitations, changes in product demand, the availability of products, change in competition, economic conditions, various risks due to changes in market conditions and other risks detailed in the Company's Securities and Exchange Commission filings and reports. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion