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WEGENER CORPORATION RESPONDS TO NASDAQ NOTIFICATION
(May 3, 2001) - Wegener Corporation (Nasdaq: WGNR), today announced that it has been notified by the Nasdaq Listing Qualifications Department that it is not in compliance for continued listing on Nasdaq as a result of failing to meet the minimum bid price requirement of $1.00 on its common shares. On all other Nasdaq listing criteria, the Company well exceeds compliance minimums. The Company has been given 90 days by the Listing Qualifications Department to regain compliance. Should the bid price not reach the minimum acceptable level during this period, the Company will request an appeal with Nasdaq. Robert A. Placek chairman and chief executive officer of Wegener Corporation, commented, "While everyone at the Company is deeply concerned with the implications of this Nasdaq notification, we are very optimistic for the future of the Company. As we stated in our most recent financial results press release, the visibility of our revenue stream for the upcoming fiscal year is the most promising in the history of the Company. Our focus on research and development has led to the development of our well-received UNITY500IP and iPump products, and along with our increased backlog for products to be shipped in fiscal year 2002 have created a strong foundation for Wegener's future. We have the products, a record backlog and excellent prospects. With these tools we will work tirelessly to increase shareholder value and maintain our listing." Wegener Communications is an international provider of digital solutions for IP data, video and audio networks. Applications include IP data delivery, broadcast television, cable television, radio networks, business television, distance education, business music, satellite paging and financial information distribution. COMPEL, Wegener's patented network control system provides networks with unparalleled ability to regionalize programming and commercials through total receiver control. COMPEL network control capability is integrated into Wegener digital satellite receivers. Wegener Communications can be reached at +1.770.814.4000 or on the World Wide Web at www.wegener.com. COMPEL, ENVOY, UNITY, UNITY*IP and iPump are trademarks of Wegener Communications, Inc. All Rights Reserved. This news release contains statements which may be forward looking within the meaning of applicable securities laws, including the Private Securities Litigation Reform of 1995. The 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 UNITY digital video products, development of additional business for the Wegener digital and analog video and audio transmission product lines, effectiveness of the revitalized international sales organization and the successful development and introduction of new products in the future. The Company intends that such forward-looking statements are subject to the safe harbors created thereby. 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 or inferred results. |
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| For further information, please contact: C. Troy Woodbury, Jr. Chief Financial Officer Wegener Corporation (770) 814-4000 www.wegener.com RCG Capital Markets Group, Inc., (480) 675-0400 Retail: Jim Estrada, Brett Maas Institutional/Analysts: Joe Diaz, Joe Dorame Media: Jeff Stanlis www.rcgonline.com Email: info@wegener.com World Wide Web: www.wegener.com |
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voice 770 814-4000 fax 770 623-0698 email: info@wegener.com |
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©2000 Wegener Communications |
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