ICR Systems, Inc. Subsidiary Awarded Contract.Business Editors ORLANDO, Fla.--(BUSINESS WIRE)--March 13, 2003 ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. Systems, Inc. (Pink Sheets:ICRM ICRM Institute of Certified Records Managers ICRM International Committee for Radionuclide Metrology ICRM Internet Customer Relationship Management ICRM International Chemometrics Research Meeting ICRM International Cliff Richard Movement ) announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Meehan Electric Company, Inc. has been awarded the electrical division for the Athens Technical College Athens Technical College is a public college in Athens, Georgia. It was founded in 1958 as Athens Area Vocational-Technical School, was renamed Athens Area Technical Institute in 1987, and took its current name in 2000. DTAE-77 Business/Information Technical Building. The amount of the contract awarded to Meehan Electric Company, Inc. is $518,000. "This contract is important for several reasons." says Linwood C. Meehan III, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ICR Systems, Inc. "First, it provides a key component for Meehan Electric Company's operating budget for the fiscal year. Second, it further reinforces the notion that even during challenging economic environments, top tier companies will continue to secure the top opportunities in their area of expertise. With the current downturn in the commercial and industrial construction industry, which is evident on both a regional and national level, it is certainly reassuring that Meehan Electric Company has remained competitive in its region and continues to show improvement in its core business." "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. " Note: Certain statements contained herein constitute "forward-looking statements" within the meaning 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 forward-looking statements are based on current expectations, estimates and projections about the company's industry, management's beliefs and certain assumptions made my management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Since such statements involve risks and uncertainties, the actual results and performance of the company may turn out to be materially different from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made herein; however, readers should carefully review reports or documents that company files from time to time with the Securities and Exchange Commission. About ICR Systems, Inc. ICR Systems, Inc. (Pink Sheets:ICRM) is a diversified holding company that operates through its wholly owned subsidiaries. The company currently has three subsidiaries in operation including Meehan Electric Company, Inc., ICR Electrical Services, Inc. and ICR Power Solutions, Inc. The Company is actively seeking potential acquisition candidates in the manufacturing, fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. , contracting, engineering, sales and marketing areas in the Industrial, Commercial and Residential marketplace. |
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