Performance Technologies Receives Confirmation for $3.7 Million Order '...expands contract value to $10.9 million...'.ROCHESTER, N.Y.--(BUSINESS WIRE)--June 25, 1999-- Performance Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PTIX) today received confirmation that all contingencies for the $3.7 million order announced on April 7, 1999, as part of an $8.3 million order, have been removed. The customer directed the Company to proceed with scheduling production for this order over the next 12 months. Under the terms of this contract, the Company will provide Fault Tolerant The ability to continue non-stop when a hardware failure occurs. A fault-tolerant system is designed from the ground up for reliability by building multiples of all critical components, such as CPUs, memories, disks and power supplies into the same computer. 100Mbit/sec FDDI (Fiber Distributed Data Interface) Often pronounced "fiddy," it was a LAN and MAN access method that had its heyday in the mid-1990s. FDDI was an ANSI standard token passing network that transmitted 100 Mbps over optical fiber up to 10 kilometers. Local Area Networking products to a government funded program. Further, PTI's customer negotiated an additional order for product valued at $2.6 million to be confirmed within the next 90 days. This brings the total value of this contract to $10.9 million and represents the largest single order the Company has ever received. "Confirmation of the second phase of this order increases the Company's backlog for the next twelve months and allows the Company to firm up procurement and manufacturing schedules for this major contract," said Donald Turrell, 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 Performance Technologies. "We are optimistic the latest contingent order Contingent Order 1. An order involving the simultaneous execution of two or more transactions. 2. An order whose execution depends upon the execution and/or price of another security. for a third procurement phase can be confirmed within the next ninety days and offers an important addition to the Company's continued growth as a supplier of networking and communication equipment directed at high availability and fault tolerant applications." Performance Technologies, Inc., 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 , designs, manufactures and markets high performance, high availability and high reliability network switching and data communications solutions. The Company's products are targeted towards mission critical networking and communications applications typically used by the telecommunications, financial services, information processing and defense industries. For current financial and Company information, visit our home page at www.pt.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion