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TVI Corporation Announces Highlights of 2004 Annual Stockholders Meeting and Appointment of New CFO.


Business Editors

GLENN DALE, Md.--(BUSINESS WIRE)--May 25, 2004

TVI TVI Televisão Independente (Portuguese TV Channel)
TVI Technical Vocational Institute (Albuquerque)
TVI Teacher of the Visually Impaired
TVI Television Interference
TVI Tutored Video Instruction
 Corporation (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:TVIN TVIN Thames Valley Investment Network (UK) ), a leading supplier of rapid deployment shelters and chemical/biological decontamination decontamination /de·con·tam·i·na·tion/ (de?kon-tam-i-na´shun) the freeing of a person or object of some contaminating substance, e.g., war gas, radioactive material, etc.

de·con·tam·i·na·tion
n.
 systems for the military, public health, and first response agencies, today announced the results of its annual meeting of stockholders held Monday, May 17, 2004. Over 92% of all TVI outstanding shares of TVI Common Stock were represented at the meeting and each of management's proposals submitted to TVI stockholders for approval passed. Additionally, the Company's selection of auditors for 2004 was approved, as were By-Law amendments intended to enhance corporate governance Corporate Governance

The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law.
.

Stockholders elected five incumbent directors, Joseph J. Borkoski, Joseph J. Duffy, Mark N. Hammond, Lieutenant General Harley A. Hughes (USAF Retired) and the Company's 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. , Richard V. Priddy, to staggered terms staggered terms

Membership terms for a firm's directors that expire in different years. A firm with 12 directors might have 4-year terms with 3 seats up for election each year. Staggered terms make it more difficult for a raider to gain control of a board.
 expiring at various times through 2007.

In his presentation to stockholders attending the meeting, TVI CEO, Rick Priddy presented the Company's financials and operational highlights in 2003 and the first quarter of 2004. This presentation will be available for a limited time at www.tvicorp.com. These highlights featured a Q&A session and included comments addressing:

-- Revenue growth of 145% in 2003

-- Operating income Operating Income

The profit realized from a business' own operations.

Notes:
This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit.
 growth of 158% in 2003

-- Achieving a domestic market share of approximately 70%

-- International sales in 2003 include Italy, Ireland, Scotland,

England, France and Australia

-- Diversification of product lines with introduction of IRAMS IRAMS Infrared Automatic Mass Screening (electronic circuit board fault screening)
IRAMS Interim Rapid Assembly Munitions System
 

(Infrared Raised Angle Marking System), hospital surge

capacity shelters and patient isolation systems used for

infection control

-- Recent contract wins, including a $600,000 order from The

Georgia State Department of Health

-- The acquisition of Capa Manufacturing, a leading innovator in

the powered air purifying respirator respirator /res·pi·ra·tor/ (res´pi-ra?ter) ventilator (2).

cuirass respirator  see under ventilator.
 industry

-- Expansion of manufacturing facility size to 79,000 square feet

-- Hosting the Company's first quarterly earnings conference call

-- The purchase of TVI's common stock by various institutional

investors

-- The Daily Record, of Baltimore, Maryland "Baltimore" redirects here. For the surrounding county, see Baltimore County, Maryland. For other uses, see Baltimore (disambiguation).
Baltimore is an independent city located in the state of Maryland in the United States.
 presented TVI

Corporation with the "Top Innovator of the Year 2003" award

-- Recognition in the April 26th edition of the Washington Post's

"Top 200" as having the fourth largest revenue growth of any

firm in the region for 2003

"TVI has achieved a global reputation for decontamination excellence and this reputation has translated into significant orders," stated Rick Priddy. "Our fundamental business and growth strategies are producing meaningful results and we remain enthusiastic about our future. Our commitment is to keep health care providers and first responders equipped with the latest technology in the event of a natural disaster or terrorist incident."

The Company also announced today that Karin McQuade has been named TVI's Vice President - Finance and Chief Financial Officer, effective May 17, 2004. "Although Karin joined TVI only recently, she has already proven herself to be a highly proactive, result driven and process-oriented senior manager, with strong accounting, problem solving problem solving

Process involved in finding a solution to a problem. Many animals routinely solve problems of locomotion, food finding, and shelter through trial and error.
, administration, organizational, and communication skills," said Priddy. "She possesses over 24 years of hands-on accounting experience in all phases of public and private manufacturing and retail organizations, most recently with Smiths Detection, a designer and manufacturer of chemical, biological and meteorological me·te·or·ol·o·gy  
n.
The science that deals with the phenomena of the atmosphere, especially weather and weather conditions.



[French météorologie, from Greek
 detection and protection systems for domestic and international first responders, government and commercial companies, where she last served as Vice President of Finance and Administration. In her past posts, Karin has been responsible for accounting and finance, MIS and business development departments, including budgeting, forecasting, financial reporting and analysis, cash management and capital asset management." Ms. McQuade holds a B.S. in Education from the University of Pittsburgh, a B.S. in Business & Management - Accounting from the University of Maryland University of Maryland can refer to:
  • University of Maryland, College Park, a research-extensive and flagship university; when the term "University of Maryland" is used without any qualification, it generally refers to this school
, and a Masters in Financial Management, also conferred by the University of Maryland.

Ms. McQuade replaces Thomas K. Plunkett, who has resigned, effective May 17, 2004, to pursue professional opportunities outside of the Company. Mr. Priddy continued, "We appreciate the unique contributions Tom made to TVI during his tenure here and wish him the very best in his future endeavors. Tom has played an instrumental role in building the Company's financial reporting infrastructure to date and implementing a number of key corporate initiatives that have supported our recent growth and development. In the current corporate and regulatory climate regulatory climate

The extent to which a regulated firm or industry is permitted to earn an adequate return on the stockholders' investment. This term is nearly always used in reference to utilities, which are required to obtain approval for rate changes.
, it is unfortunately necessary to add that Tom's decision to leave in no way reflects any concerns on TVI's part regarding its accounting practices financial reporting or internal controls."

About TVI Corporation:

TVI Corporation, located in Glenn Dale, Maryland
For Glen Dale in West Virginia, see Glen Dale, West Virginia.


Glenn Dale is a census-designated place (CDP) in Prince George's County, Maryland, United States. The population was 12,609 at the 2000 census.
, is a leading supplier of rapid deployment shelters and chemical/biological decontamination systems for the military, public health, and first response agencies. TVI is a primary source to the military for thermal targets and thermal decoys. TVI's stock trades on the OTC Bulletin Board OTC Bulletin Board

An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system.
 under the symbol "TVIN."

The TVI designation is a service mark of TVI Corporation. Any other company and product names mentioned above are trade names and/or trademarks of their respective owners.

Information contained in this press release constitutes forward-looking statements within the meaning of the securities laws and involves expectations, beliefs, plans, intentions or strategies regarding the future. These statements may be identified by the use of forward-looking words or phrases such as "should", "believes", expects", "might result", and others. These forward-looking statements involve risks and uncertainties and are not guarantees of future performance, as actual results could differ materially from our current expectations. Such risks and uncertainties include achieving order and sales levels to fulfill revenue expectations; our ability to respond to changes in the counter-terrorism, military, public safety, and first responder communities; adverse changes in governmental regulations; expected costs or charges, certain of which may be outside the control of the Company; the time and costs involved in the marketing and promotion for our products; the possible cancellation of existing orders for our products; general economic and business conditions; and competitive factors in our markets and industry generally. Numerous other factors could cause or contribute to such differences, including, but not limited to, those set forth in the Company's Annual Report to Stockholders, 10-KSB, 10-QSB, and other SEC filings. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date of the press release. We assume no obligation to update any such forward-looking statements, whether as a result of new information, future events or otherwise.

For more information concerning TVI, please visit us at: www.tvicorp.com.
COPYRIGHT 2004 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:May 25, 2004
Words:1041
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