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TROY Group Appoints Robert S. Messina President and COO; Company Pursues Goal of Becoming E-Commerce Solutions Leader.


SANTA ANA Santa Ana, city, El Salvador
Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region.
, Calif.--(BUSINESS WIRE)--Sept. 8, 1999--

TROY Group 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
:TROY) Wednesday announced the appointment of Robert S. Messina as president and chief operating officer Chief Operating Officer (COO)

The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president.
 of Troy Group.

Messina was previously executive vice president of TROY Group and COO of TROY Systems International, a 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.
. He continues to report to Patrick J. Dirk, chairman and chief executive officer of TROY Group.

In his new position, Messina now has responsibility for the overall operations of TROY Group. The company is now structured as three subsidiaries operating under the TROY Group: TROY Systems International, TROY XCD XCD

The ISO 4217 currency code for the East Caribbean Dollar.
 and TROY Telgate. Prior to joining TROY in 1994 as vice president of Sales and Marketing, Messina served as general manager of Omninote, a division of Telautograph Corp., a network communications company. Previously, he was western regional vice president for Dictaphone Corp.

Messina's role will be to manage the resources and technologies of the company's subsidiaries in a manner that will provide maximum benefit to TROY's customers and business partners. The appointment allows Dirk to continue to pursue TROY's goal of becoming a leading provider in e-commerce solutions. Dirk will focus on growth initiatives including product development and strategic acquisitions.

Dirk commented, "This is an exciting period in the history of the company. The promotion of Robert Messina brings us a step closer to meeting our goal of becoming a leading e-commerce solutions provider. We believe that the company's future growth will result from our continued development and marketing of unique output solutions, particularly applicable to the Internet. We are currently developing technology to allow printers to communicate with one another and transfer data over the Internet. We have also developed an important new technology which should allow e-commerce merchants to accept check payment."

On July 21, 1999, TROY Group completed its initial public offering of 2.5 million shares of common stock at $7 per share. Cruttenden Roth Inc., Pennsylvania Merchant Group and H.C. Wainwright & Co. Inc., were the lead managers of the underwriting syndicate Underwriting syndicate

A group of investment banks that work together to sell new security offerings to investors. The underwriting syndicate is led by the lead underwriter. See also: Lead underwriter.


underwriting syndicate

See syndicate.
 offering shares to the public.

TROY is recognized worldwide as a leading provider of output enhancement solutions and connectivity solutions. TROY has established a number of partnerships with companies such as Hewlett-Packard, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries)  and Standard Register. TROY's current technologies in software, firmware, and connectivity, allow the company to move toward its goal of becoming a leading provider of e-commerce solutions.

Forward-looking statements (statements which are not historical fact) in this release are made pursuant to the 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.
 provisions 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. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the company's filings with the Securities and Exchange Commission.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Sep 8, 1999
Words:450
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