Frequency Electronics Names New Director.
MITCHEL FIELD, N.Y. -- Frequency Electronics, Inc. (AMEX AMEX
See: American Stock Exchange :FEI FEI
Fédération Équestre Internationale. ) announced today that Mr. Richard Schwartz has been appointed to the Board of Directors of the Corporation. In making this announcement, Chairman of the Board General Joseph Franklin said: "We are very pleased to have Dick Schwartz join our Board. He has had a brilliant career in industry and brings a wealth of experience and expertise that will be a great asset to our business and to Frequency Electronics' corporate governance."
Richard Schwartz began his career with Rockwell in 1957, rising to President of the Rocketdyne Division in 1983. He led many of Rockwell's most successful space and satellite programs, including the first flights of the Global Positioning System Global Positioning System: see navigation satellite.
Global Positioning System (GPS)
Precise satellite-based navigation and location system originally developed for U.S. military use. and the NASA Space Shuttle. In 1990 he was named President of Hercules Aerospace and Executive Vice President of the Hercules Corporation, where he also served on the Board of Directors. In 1995 he became Chief Executive Officer and later Chairman of ATK, a $1.1 billion company that builds precision weaponry for the US Government. He retired from ATK in 2000 and presently serves on the Board of Directors of Astronautics Corporation of America Astronautics Corporation of America is a privately owned corporation headquartered in Milwaukee, Wisconsin (USA). Astronautics was established in 1959 and is a major supplier of avionics equipment to airlines, Boeing, Airbus, the U.S. . He is a Trustee and Chairman of the Finance Committee of Cooper Union in New York City New York City: see New York, city.
New York City
City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , where he earned his Bachelor of Engineering Bachelor of Engineering (commonly abbreviated as BE or BEng) is an undergraduate academic degree awarded to a student after three to five years of studying engineering at an accredited university in Australia, Canada, China, Finland, Germany, India, Ireland, Korea, Degree. He also holds an MBA degree from Pepperdine University, and lives in Thousand Oaks, California Thousand Oaks, commonly referred to as "T.O." by residents, is a city in southeastern Ventura County, California, in the United States. It was named after the many oak trees that grace the area, and the city seal is adorned with an oak. .
About Frequency Electronics
Frequency Electronics, Inc. is a world leader in the design, development and manufacture of high-technology frequency, timing and synchronization products for voice, video and data telecommunications delivered by satellite or terrestrial means for both commercial and DOD (1) (Dial On Demand) A feature that allows a device to automatically dial a telephone number. For example, an ISDN router with dial on demand will automatically dial up the ISP when it senses IP traffic destined for the Internet. customers. The Company's technologies provide unique solutions that are essential building blocks for the next generation of broadband wireless and fiber optic communications systems, for critical defense applications and for the ongoing expansion of existing wireless and wireline networks. Additional information is available on FEI's website: www.frequencyelectronics.com.
Safe Harbor 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 in this press release regarding the future constitute "forward-looking" statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, inability to integrate operations and personnel, actions by significant customers or competitors, general domestic and international economic conditions, consumer spending trends, reliance on key customers, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, product prices and raw material costs, dependence upon third-party vendors, competitive developments, changes in manufacturing and transportation costs, the availability of capital, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.