SHARED TECHNOLOGIES INC. ANNOUNCES NASDAQ LISTING
SHARED TECHNOLOGIES INC. ANNOUNCES NASDAQ LISTING WETHERSFIELD, Conn., Oct. 5 /PRNewswire/ -- Shared Technologies Inc.
(NASDAQ: STCHD) said effective Oct. 6 it will be listed on NASDAQ, trading under the interim symbol STCHD. After 30 days the "D" will be dropped from the symbol after which the stock will trade as STCH.
"We are pleased to be relisted on NASDAQ. A difficult chapter in our history is behind us and we are now well positioned to resume the growth of our business," said Anthony D. Autorino, chairman and chief executive officer. The company recently completed a major debt/equity restructuring significantly improving its balance sheet and earnings. Projected earnings per share for the year ending Dec. 31, 1992, including the gain from restructuring is estimated to be between $.90 and $1.10 a share, a $2.50 per share improvement over 1991. The company provides telephone and data services to occupants of multi-tenant office buildings and convention centers in 53 buildings in 13 metropolitan areas, including Atlanta, Birmingham, Boston, Chicago, Hartford, Los Angeles, Mahwah, New Jersey, Memphis, Nashville, New Orleans, Phoenix, Seattle and Bellevue, Wash. The company is also engaged in providing cellular products and communications services to business clients. -0- 10/5/92 /CONTACT: Paul R. Barry of Shared Technologies, Inc., 203-258-2435/ (STCH) CO: Shared Technologies, Inc. ST: Connecticut IN: TLS SU:
PS-OS -- NY094 -- 6742 10/05/92 16:20 EDT
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|Date:||Oct 5, 1992|
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