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SEC Ruling Clears Future for Computone.


Business Editors

ATLANTA--(BUSINESS WIRE)--April 12, 2000

Computone Corporation (OTC OTC

See: Over-the-counter.


OTC

See over-the-counter market (OTC).
 BB: CMPT CMPT Computer Science (course)
CMPT Compartment
CMPT Compute
CMPT Centre for Marine and Petroleum Technology (UK)
CMPT Certified Manual Physical Therapist
) announced final settlement of the Securities and Exchange Commission complaint filed last Fall, allowing the pioneer in IT connectivity and remote access communications to "move into the future unencumbered by problems and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
 brought on by previous management."

"We are glad the seven-year-old SEC saga has ended," Perry Pickerign, 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 Computone. "The SEC investigation was the last of several obstacles left by prior management. Today, Computone has great products, an outstanding and dedicated team of professionals, and an attractive and growing market. Now that this cloud created and left behind by prior management -- none of whom remain with the company -- has been lifted, the future looks very bright, indeed."

Pickerign said the ruling allows Computone's management team to focus on what is best for the company, its employees and its shareholders without restrictions, including, he said "the important step of applying for relisting on the 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
.

Pickerign attributed the company's on-going progress to its growing line of leading-edge products, accelerated use of Linux -- with Computone product drivers incorporated in the Linux kernel source code base, a newly-signed international distribution agreement with Ingram Micro, and introduction of Computone's RAS (1) See network access server.

(2) (Remote Access Service) A Windows NT/2000 Server feature that allows remote users access to the network from their Windows laptops or desktops via modem. See RRAS and network access server.
(R) 2000 "Out of Band" Console Management Solution, providing secure data transmission via the Internet and in e-commerce, now being adopted by top technology firms.

"Working with Ingram Micro (see "Computone Signs International Distribution Agreement with Ingram Micro," Business Wire, February 17, 2000) is particularly exciting," said Pickerign, "as we leverage its network of more than 140,000 resellers around the world." Pickerign also said that Computone is "the forefront in performance and efficiency with an expanded product line" featuring new IntelliServer(TM) intelligent servers, including the RAS 2000 family of remote access servers, and the Gold Card RS-232 serial PCI (1) (Payment Card Industry) See PCI DSS.

(2) (Peripheral Component Interconnect) The most widely used I/O bus (peripheral bus).
 controllers, with Linux device drivers.

Clearly," he said, "we have laid the foundation for a brighter future."

A pioneer and leader in the worldwide IT industry since 1984, Computone Corporation (OTC BB: CMPT, www.computone.com) designs, manufactures and markets a comprehensive line of remote access communications servers for Internet, LAN/WAN LAN/WAN Local Area Network/Wide Area Network  and Windows NT/SCO UNIX/Linux and other Open Systems. Computone is also a leading producer of high-speed multiport I/O (Input/Output) The transfer of data between the CPU and a peripheral device. Every transfer is an output from one device and an input to another. See PC input/output.

I/O - Input/Output
 boards, serving vertical markets including healthcare, retail/point-of-sale, banking and financial, telecommunications, Internet service providers (ISPs), transportation, hospitality and education. Based in the Atlanta suburb of Alpharetta, Computone sells through a worldwide network of authorized and certified distributors. For the first nine months of fiscal 2000, ended December 31, 1999, Computone reported an increase of 29% in net sales Net Sales

The amount a seller receives from the buyer after costs associated with the sale are deducted.

Notes:
This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight
 over the same period in fiscal 1999.

This press release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.

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Publication:Business Wire
Date:Apr 12, 2000
Words:512
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