Wegener Corporation Announces a Loan Agreement Amendment
2011年6月30日 - 2:39AM
ビジネスワイヤ(英語)
Wegener Corporation (OTCQB: WGNR.PK), a leading provider of
products for television, audio and data distribution networks
worldwide, today announced an amendment to their Loan and Security
Agreement with The David E. Chymiak Trust.
“We met with Mr. Chymiak and reviewed our current and future
strategies for Wegener,” stated Troy Woodbury, President and CEO of
Wegener Corporation. “As a result, we are pleased to announce that
the solvency representation provision has been removed from the
debt covenants of our loan agreement. Our entire team is committed
to the success of Wegener and Mr. Chymiak’s willingness to remove
this covenant demonstrates his continued faith in our company and
our ability to serve our customers. His support is greatly
appreciated by our board of directors, management, our dedicated
employees and shareholders.”
Wegener Corporation will host a conference call on Monday, July
18, 2011, at 4:15 PM Eastern Time to discuss its fiscal third
quarter financial results. To join the conference call, dial
877-299-4454 or 617-597-5447 for international dial in, and enter
participant code 91971088. Wegener Corporation intends to discuss
financial and other operational information on this conference
call. In addition, this call is being webcast by Thomson/CCBN and
can be accessed from the Company’s website at www.wegener.com. It
will be archived on WEGENER’s website at www.wegener.com and
the replay will be available within one hour after the conference
call.
ABOUT WEGENER
WEGENER® (Wegener Communications, Inc.), a wholly-owned
subsidiary of Wegener Corporation (OTCQB: WGNR.PK), is an
international provider of digital video and audio solutions for
broadcast television, radio, telco, private and cable networks.
With over 30 years experience in optimizing point-to-multipoint
multimedia distribution over satellite, fiber, and IP networks,
WEGENER offers a comprehensive product line that handles the
scheduling, management and delivery of media rich content to
multiple devices, including video screens, computers and audio
devices. WEGENER focuses on long- and short-term strategies for
bandwidth savings, dynamic advertising, live events and affiliate
management.
WEGENER’s product line includes: iPump® media servers for
file-based and live broadcasts; COMPEL® Network Control and COMPEL®
Conditional Access for dynamic command, monitoring and addressing
of multi-site video, audio, and data networks; and the Unity®
satellite media receivers for live radio and video broadcasts.
Applications served include: digital signage, linear and file-based
TV distribution, linear and file-based radio distribution, Nielsen
rating information, broadcast news distribution, business music
distribution, corporate communications, video and audio
simulcasts.
WEGENER® can be reached at 770-814-4000 or at
www.wegener.com.
WEGENER, COMPEL, COMPEL CONTROL, iPUMP, MEDIAPLAN, UNITY,
ASSURED FILE DELIVERY, PANDA, PROSWITCH, VIDATA, the stylized
W-design logo (for WEGENER®), the stylized C-design logo (for
Compel®) and the stylized PANDA design logo are all registered
trademarks of WEGENER®. All Rights Reserved.
This news release may contain forward-looking statements
within the meaning of applicable securities laws, including the
Private Securities Litigation Reform Act of 1995, and the Company
intends that such forward-looking statements are subject to the
safe harbors created thereby. Forward-looking statements may
be identified by words such as "believes," "expects," "projects,"
"plans," "anticipates," and similar expressions, and include, for
example, statements relating to expectations regarding
future sales, income and cash flows. Forward-looking
statements are based upon the Company’s current expectations and
assumptions, which are subject to a number of risks and
uncertainties including, but not limited to: customer
acceptance and effectiveness of recently introduced products,
development of additional business for the Company’s digital video
and audio transmission product lines, effectiveness of the sales
organization, the successful development and introduction of new
products in the future, delays in the conversion by private and
broadcast networks to next generation digital broadcast equipment,
acceptance by various networks of standards for digital
broadcasting, the Company’s liquidity position and capital
resources, general market conditions which may not improve during
fiscal year 2011 and beyond, and success of the Company’s research
and development efforts aimed at developing new products.
Discussion of these and other risks and uncertainties are
provided in detail in the Company’s periodic filings with the SEC,
including the Company’s most recent Annual Report on Form 10-K.
Since these statements involve risks and uncertainties and are
subject to change at any time, the Company’s actual results could
differ materially from expected results. Forward-looking
statements speak only as of the date the statement was made.
The Company does not undertake any obligation to update any
forward-looking statements.
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