WEGENER CORPORATION RESPONDS TO
NASDAQ NOTIFICATION
Duluth, GA-August 31, 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 the Company is concerned about this Nasdaq notification, we continue to be optimistic about the future of the Company. As we stated in recent press releases, we expect both increased revenues and improved operating results in the current fiscal fourth quarter, and the visibility of our revenue stream for the upcoming fiscal year is the most promising in the history of the Company. Our continued focus on research and development has yielded products that will expand our backlog and increase revenues going forward."
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.