Neil Rappaport And Robert Waldman Appointed To Jaco Electronics' Board Of Directors.Business Editors HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Feb. 5, 2004 Jaco Electronics, Inc. (Nasdaq: JACO), a distributor of electronic components to original equipment manufacturers, announced today the appointment of Neil Rappaport, 57, and Robert Waldman Robert Waldman is an American composer, musical arranger, and orchestrator. Waldman has collaborated with Alfred Uhry twice, on Here's Where I Belong, the disastrous 1968 adaptation of John Steinbeck's East of Eden , 68, to its Board effective February 2, 2004. With the addition of Messrs. Rappaport and Waldman, Jaco Electronics' Board now includes eight directors, five of whom are independent in accordance with the requirements of the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. . Mr. Rappaport, a former Vice President of Sales for Vitesse Semiconductor and a member of the founding team at Applied Micro Circuit Corporation, has over 35 years of experience in the electronics and technologies industries. Mr. Waldman, a former senior partner of the accounting firm Horowitz, Waldman, Berretta & Maldow, has more than 45 years of accounting experience and is currently president of RJW RJW Russo-Japanese War Associates Inc., a financial and tax consulting business. "We are delighted to welcome Neil and Robert to Jaco's Board of Directors," stated Chairman and Chief Executive Officer, Joel Girsky. "They bring a wealth of industry and financial expertise and experience to our Company, and we look forward to the benefit of their advice and guidance as contributing members of our Board." Jaco is a leading distributor of electronic components to industrial OEMs and contract manufacturers and provides contract manufacturing services to its industrial OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers. Jaco distributes products such as semiconductors, capacitors, resistors, electromechanical devices Noun 1. electromechanical device - a mechanical device that is operated by electricity mechanical device - mechanism consisting of a device that works on mechanical principles , flat panel displays A thin display screen for computer and TV usage. The first flat panels appeared on laptop computers in the mid-1980s, and the LCD technology became the standard. Stand-alone LCD screens became available for desktop computers in the mid-1990s and exceeded sales of CRTs for the first time and power supplies, which are used in the manufacture and assembly of electronic products, including: telecommunications equipment, computers and office equipment, medical devices and instrumentation, industrial equipment and controls, military/aerospace systems and automotive and consumer electronics. Jaco has two distribution centers and 16 strategically located sales offices throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Jaco provides a variety of value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. including automated inventory management services, assembling stock items for customers into pre-packaged kits, integrating and assembling various custom components with flat panel displays to customer specifications and providing contract manufacturing services. The Company's core customer base consists primarily of small and medium-sized manufacturers that produce electronic equipment used in a wide variety of industries. Except for the historical information, this press release includes 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 involve risks and uncertainties, including, but not limited to, general industry and economic conditions, the impact of competitive products, product demand and market acceptance risks, fluctuations in operating results, delays in development of highly-complex products, the ability of the Company to maintain or expand its operations, the level of costs incurred in connection with the Company's ability to maintain or expand its operation and the financial strength of the Company's customers and suppliers and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release involve risks and uncertainties which could cause actual results, performance or trends, including margins, SG&A expenses as a percentage of revenues and earnings per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, to differ materially from those expressed in the forward-looking statements. The Company believes that all forward-looking statements made by it have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections as expressed in the forward-looking statements will actually occur or prove to be correct. Actual results may differ materially from such information set forth herein. |
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