FOR IMMEDIATE RELEASE
Micronetics Reorganizes Test Solutions Group; Promotes Charles Freihofer to Lead Test Group; Hires Pat Robbins to Lead Noise Group; Engages Cracom To Develop Test Assemblies; Hires Larry Newbold as Sales Manager of VCO Products.
Richard Kalin, CEO, stated "In reviewing the Test Solutions Group, we felt the product focus was too broad and one set of customers was seeking test equipment, while another was seeking test components. As a result, we decided to divide the Group into two, naming Charles Freihofer, as Director of the Test Solutions Group, to focus on the market for multi-path fading test equipment with our Wave3G equipment platform, and the market for our industry-leading, carrier-to-noise generators. Pat Robbins was the perfect candidate to lead our newly-formed Noise Products Group. Years ago, he was responsible for obtaining the largest orders we ever received in this product area. I am optimistic he will be successful in replicating his prior successes."
"In the past, Pat worked with Cracom to develop integrated assembly opportunities. Hiring Pat and engaging Cracom supports our strategy to expand the Noise Products Group by developing more integrated subassemblies for automated test equipment (ATE) utilizing our unique noise-based technology, which is increasingly important for testing broadband communication chipsets and equipment."
Pat Robbins has more than ten years senior level engineering, sales and business development experience. While working for Micronetics several years ago, he introduced and successfully marketed our first integrated noise figure test assembly for ATE. Most recently, Pat was employed by KnowledgeXtensions, where he was in charge of new business development. He graduated from Rensselaer Poytechnic Institute in 1988, in Troy, NY.
Cracom Engineering, in operation since 1984, is a Department of Defense Certified Subcontractor for providing scientific/contractor engineering and technical assistance. It specializes in analysis, simulation, design, integration, test and evaluation of systems employing RF, microwave, optical, analog and digital technologies.
Larry Newbold was hired as Eastern Regional Sales Manager of the VCO Products Group. Larry has extensive experience in this capacity having formerly been with Anritsu, Vari-L Company, Litton Solid State and M/A Com Components Marketing. He was graduated from the University of Colorado.
Micronetics, operating through its Defense Electronics Group, manufactures microwave and radio frequency (RF) components and integrated subassemblies used in a variety of defense, aerospace and commercial applications. Operating through its Test Solutions, Noise Products and VCO Products Groups, Micronetics manufactures and designs test equipment and components that are utilized in or test the strength, durability and integrity of communication signals in communications equipment. Micronetics serves a diverse customer base, including Aerosat, Alcatel, BAE Systems, Boeing, EADS, Ericsson, Honeywell, L-3 Communications, Lockheed Martin, Motorola, NEC, Northrop Grumman, Raytheon, Southwest Research, Teradyne, Tektronix and Thales. Micronetics also operates through its wholly-owned subsidiaries, Microwave & Video Systems, Inc. and Enon Microwave, Inc.
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, internal projections as to the demand for certain types of equipment, competitive products and pricing, the success of new product development efforts, the timely release for production and the delivery of products under existing contracts, access to financial resources, 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, 2002.
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