FOR IMMEDIATE RELEASE
Micronetics Completes $2.5 Million Bank Financing
Richard Kalin, CEO, stated "We were pleased to complete this financing at this time. It gives Micronetics added cash resources and flexibility to finance both internal and external growth activities. While internally generated cash resources are at a record level, we felt increasing cash reserves and availability at this time, at current interest rates, was a good strategic move.
Headquartered in Hudson, NH, Micronetics designs and manufactures test equipment and components that test the strength, durability and integrity of communication signals in communications and internet infrastructure equipment. Micronetics also manufactures microwave and radio frequency (RF) components and integrated subassemblies used in a variety of wireless, aerospace and defense applications. Micronetics' products are used in or test communication and internet infrastructure equipment, fixed terminal, point-to-point/multi-point data radios, home networking equipment and military/aerospace platforms (satellite communications, electronic warfare and electronic counter-measures). Micronetics serves a diverse customer base, including some of the world's leading technology companies, such as AeroSat, Agere, Alcatel, BAE Systems, Boeing, Cisco, EADS, Ericsson, L-3 Communications, Lockheed Martin, Lucent Technologies, Motorola, NEC, Nokia, Northrop Grumman, Raytheon, TRW, Tektronix, Teradyne and Thales.
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 the success of the products into which the Company's products are integrated, governmental action relating to wireless communications licensing and regulation, internal projections as to the demand for certain types of technological innovation, competitive products and pricing, the success of new product development efforts, the timely release for production and the delivery of products under existing contracts, future economic conditions 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, 2001.
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