FOR IMMEDIATE RELEASE MICRONETICS ANNOUNCES RESIGNATION OF CFO
Hudson, NH - January 25, 2008 - Micronetics, Inc. (NASDAQ: NOIZ) announced today that Diane Bourque has notified the company of her resignation from her position as Vice President and Chief Financial Officer, effective February 15, 2008, for personal reasons.
David Robbins, President and Chief Executive Officer of Micronetics will act as interim Chief Financial Officer. Micronetics has already initiated a search for a new chief financial officer, and until a replacement is named, the company's Corporate Controller will assume additional duties. In addition, Ms. Bourque has agreed to serve as a consultant and advisor through July 31, 2008 to assist with the preparation of the company's financial statements in connection with the annual audit. David Robbins, President and Chief Executive Officer of Micronetics said, "We appreciate the contributions Diane has made to Micronetics during her tenure here and wish her the very best with her future endeavors. Diane led the effort in building the company's financial reporting infrastructure and as a direct result of her leadership, we are fortunate to have a capable financial team in place to ensure an orderly transition while we search for a new CFO." The Board of Directors and management of Micronetics wish to thank Ms. Bourque for her dedication and service to the company.
About Micronetics: Some of the statements contained in this news release are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, including but not limited to reductions in spending by certain of our customers, our ability to operate and integrate acquired companies, our ability to manage our growth, disruptions in supply or production, increased levels of debt, our ability to protect our proprietary information, future economic conditions in our industry and generally, as well as other factors. The information in this release should be reviewed in conjunction with Micronetics' Annual Report for its fiscal year ended March 31, 2007 as well as its other filings with the Securities and Exchange Commission.
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