Performance Technologies Expands Board of Directors; Appoints VP of technology from Sun Microsystems.Business/Technology Editors ROCHESTER, N.Y.--(BUSINESS WIRE)--Nov. 27, 2001 Performance Technologies, Inc. (Nasdaq: PTIX) today announced it has made two appointments to its board of directors, including the appointment of Arlen Vanderwel, vice president of technology at Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. . Vanderwel has over 25 years of strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. and product development experience within the telecommunications industry. His background includes a senior technology role within Sun Microsystems Network Services Providers group. He has also held positions of vice president of network marketing and chief engineer within the public carrier networks group at Nortel Networks in Ottawa, Canada. Performance Technologies also announced the appointment of Reg Cable to serve as the secretary to the board. Cable replaces Kenneth Donaldson, who, until his recent resignation, served in this position since the founding of the company. Cable is vice president of sales for Performance Technologies. "Over the past 18 months Performance Technologies has taken an aggressive posture in expanding the board of directors," said John Slusser, chairman of the board. "We are certain that Arlen's strong background and experience in systems and telecommunications will be very helpful to other board members and management. As a Northern California resident, he also brings a Silicon Valley perspective to board meetings, which helps meet our recent objective to expand geographic diversity when adding new directors. "We are also pleased that Reg Cable has accepted our invitation to participate as secretary to the board. As an important member of senior management, he will be able to assist our 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. in keeping the board informed and up-to-date at our regular meetings, while overseeing the secretarial function." About Performance Technologies, Inc. Performance Technologies is a leading supplier of packet-based telecommunications and networking products for wireline, wireless and next-generation Internet Protocol networks. The company provides enabling carrier-grade technology solutions, including network access products, Ethernet switching products and SS7/IP solutions to network operators, equipment manufacturers and systems integrators worldwide. Performance Technologies is headquartered in Rochester, New York This article is about the city of Rochester in Monroe County. For the town in Ulster County, see Rochester, Ulster County, New York. Rochester, once known as The Flour City, and more recently as The Flower City or . Additional engineering facilities are located in Raleigh, North Carolina For other uses of this name, see Raleigh. Raleigh (IPA: /ˈrɑli/, ral-ee) is the capital of the State of North Carolina and the county seat of Wake County. ; San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. ; and Ottawa, Canada. For more information about Performance Technologies, visit www.pt.com. Forward-Looking Statements 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 provides a "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. " for certain forward-looking statements. This press release contains forward-looking statements which reflect the Company's current views with respect to future events and financial performance, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor provisions of those Sections. These forward-looking statements are subject to certain risks and uncertainties and the Company's actual results could differ materially from those discussed in the forward-looking statements. These risks and uncertainties include, among other factors, general business and economic conditions, rapid or unexpected changes in technologies, cancellation or delay of customer orders including those relating to design wins, changes in the product or customer mix of sales, delays in new product development, customer acceptance of new products and customer delays in qualification of products. These statements should be read in conjunction with the audited Consolidated Financial Statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge , the Notes thereto, and Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations of the Company as of December 31, 2000, as reported in its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other documents as filed with the Securities and Exchange Commission. Note to Editors: Brand or product names are registered trademarks or trademarks of their respective holders. |
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