Design Automation Systems Inc. Begins Trading Under `DASI' Ticker Symbol.HOUSTON--(BUSINESS WIRE)--April 22, 1999-- Design Automation Systems Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:DASI DASI Degree Angular Scale Interferometer DASI Digital Altimeter Setting Indicator DASI Dial Access Signaling Interface DASI Dial Access Service Interface ) today announced the company's common stock has commenced trading on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol DASI. DASI has been trading publicly under the symbol of Loch Exploration (OTC BB:LOCX) since its acquisition, effective in January 1999. Shareholders recently approved changing the company name to Design Automation Systems Inc. prior to the trading symbol change. "With our name and ticker symbol changes now complete, we are prepared to begin building recognition for our company and our shareholder-aligned management goals," said founder and Chief Executive Officer Carl R. Rose. DASI, an established value-added reseller based in Houston, has announced plans for an aggressive merger and acquisition program and has already completed its acquisition of St. Louis-based COAD COAD, n.pr See disease, chronic obstructive airway. COAD chronic obstructive airways disease. See chronic obstructive pulmonary disease. Solutions Inc. The company's acquisition strategy is intended to accelerate growth and improve margins through the integration of complementary information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. capabilities in targeted markets. The company recently reported a 300 percent increase in net income of $260,332 or 2 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , on revenues of $20.4 million for the year ended Dec. 31, 1998, compared with $141,481, or 1 cent per share, on revenues on $20.0 million in the prior-year period. Design Automation Systems Inc. is a systems integrator, custom programmer, and premier dealer of Internet security solutions and products for Compaq Computer (NYSE NYSE See: New York Stock Exchange :CPQ); Hewlett Packard (NYSE:HWP); IBM (NYSE:IBM); and Sun Microsystems (Nasdaq:SUNW SUNW Sun Microsystems, Inc (former stock symbol; now JAVA) SUNW Stanford University Network Workstation (Sun Microsystems, Inc) ). Since its inception in 1985, Design Automation Systems has received numerous industry awards and has been ranked as one of America's Fastest Growing Private Companies by "Inc." magazine (1992). It is regularly included among Houston's fastest growing companies in The Houston 100. Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties which may cause the company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the company's customers, competition and other factors discussed from time to time in the company's filings with the Securities and Exchange Commission. |
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