Optical Cable Corporation Acquires Applied Optical Systems, Inc.
06 Novembre 2009 - 1:17AM
PR Newswire (US)
Transaction Broadens OCC's Product Lines and Builds on its Position
as a Leading Provider of Fiber Optic Cables for the Military and
Harsh Environment Markets ROANOKE, Va., Nov. 5
/PRNewswire-FirstCall/ -- Optical Cable Corporation (Nasdaq GM:
OCCF) ("OCC") today announced that it has acquired Applied Optical
Systems, Inc. ("AOS"), a designer, developer and manufacturer of
specialty fiber optic connectors and connectivity solutions for
military and harsh environment applications. The acquisition was
completed on October 31, 2009, and Applied Optical Systems is now a
wholly owned subsidiary of OCC. OCC acquired Applied Optical
Systems by exercising a warrant issued by AOS in April 2005 (as
amended) for the issuance of new equity and acquiring all of the
remaining capital stock of AOS from AOS's shareholders. "The
acquisition of Applied Optical Systems is another important step
forward in OCC's efforts to provide our customers with more
complete cabling and connectivity solutions. Further, the
acquisition of Applied Optical Systems builds on OCC's strong
existing presence in the military and harsh environment markets,"
stated Neil Wilkin, President and CEO of Optical Cable Corporation.
Applied Optical Systems' product offering includes specialty fiber
optic connectors and connectivity solutions for military, mining,
oil and gas, industrial, broadcast and other harsh environment
applications. AOS is located near Dallas, Texas, and employs
approximately 40 persons, including engineering, manufacturing and
office personnel. AOS's net sales were approximately $7.0 million
(unaudited) for the twelve months ended September 30, 2009. About
Optical Cable Corporation Optical Cable Corporation is a leading
manufacturer of a broad range of fiber optic and copper data
communications cabling and connectivity solutions primarily for the
enterprise market, offering an integrated suite of high quality,
warranted products which operate as a system solution or seamlessly
integrate with other providers' offerings. OCC's product offerings
include designs for uses ranging from commercial, enterprise
network, datacenter, residential and campus installations to
customized products for specialty applications and harsh
environments, including military, industrial, mining, oil and gas
and broadcast applications. OCC products include fiber optic cable,
copper and fiber optic connectors, copper and fiber optic patch
cords, racks, cabinets, datacom enclosures, patch panels, face
plates, multi-media boxes and cable and connectivity management
accessories, and are designed to meet the most demanding needs of
end-users, delivering a high degree of reliability and outstanding
performance characteristics. OCC is internationally recognized for
pioneering the design and production of fiber optic cables for the
most demanding military field applications, as well as of fiber
optic cables suitable for both indoor and outdoor use, and creating
a broad product offering built on the evolution of these
fundamental technologies. With the acquisition of SMP Data
Communications in May 2008, OCC also is now internationally
recognized for its role in establishing copper connectivity data
communications standards, through its innovative and patented
technologies. Founded in 1983, OCC is headquartered in Roanoke,
Virginia with offices and manufacturing and warehouse facilities
located both in Roanoke, Virginia and near Asheville, North
Carolina. OCC primarily manufactures its high quality fiber optic
cables at its ISO 9001:2008 registered and MIL-STD-790F certified
facility located in Roanoke, Virginia and its high quality
connectivity products at its ISO 9001:2000 registered facility
located near Asheville, North Carolina. Further information about
OCC is available on the Internet at http://www.occfiber.com/. About
Applied Optical Systems, Inc. Applied Optical Systems, Inc.
designs, develops and manufactures a broad range of specialty fiber
optic connectors and connectivity solutions primarily for use in
military and other harsh environment applications. Founded in 2003,
Applied Optical Systems has offices and a manufacturing facility is
located in Plano, Texas, near Dallas. Applied Optical Systems is a
wholly owned subsidiary of Optical Cable Corporation (Nasdaq GM:
OCCF). Further information about AOS is available on the Internet
at http://www.appliedopticalsystems.com/. FORWARD-LOOKING
INFORMATION This news release by Optical Cable Corporation and its
subsidiaries (collectively, the "Company" or "OCC") may contain
certain forward-looking information within the meaning of the
federal securities laws. The forward-looking information may
include, among other information, (i) statements concerning the
Company's outlook for the future, (ii) statements of belief,
anticipation or expectation, (iii) future plans, strategies or
anticipated events, and (iv) similar information and statements
concerning matters that are not historical facts. Such
forwardlooking information is subject to variables, uncertainties,
contingencies and risks that may cause actual events to differ
materially from the Company's expectations. Additionally, such
variables, uncertainties, contingencies and risks may adversely
affect the Company and the Company's future results of operation
and future financial condition. Factors that could cause or
contribute to such differences from the Company's expectations or
could adversely affect the Company, include, but are not limited
to: the level of sales to key customers, including distributors;
timing of certain projects and purchases by key customers; the
economic conditions affecting network service providers; corporate
and/or government spending on information technology; actions by
competitors; fluctuations in the price of raw materials (including
optical fiber, copper, gold and other precious metals, and plastics
and other materials affected by petroleum product pricing);
fluctuations in transportation costs; the Company's dependence on
customized equipment for the manufacture of its products and a
limited number of production facilities; the Company's ability to
protect its proprietary manufacturing technology; the Company's
ability to replace royalty income as existing patented and licensed
products expire by developing and licensing new products; market
conditions influencing prices or pricing; the Company's dependence
on a limited number of suppliers; the loss of or conflict with one
or more key suppliers or customers; an adverse outcome in
litigation, claims and other actions, and potential litigation,
claims and other actions against the Company; an adverse outcome in
regulatory reviews and audits and potential regulatory reviews and
audits; adverse changes in state tax laws and/or positions taken by
state taxing authorities affecting the Company; technological
changes and introductions of new competing products; changes in
end-user preferences for competing technologies, relative to the
Company's product offering; economic conditions that affect the
telecommunications sector, certain technology sectors or the
economy as a whole; changes in demand of our products from certain
competitors for which we provide private label connectivity
products; terrorist attacks or acts of war, and any current or
potential future military conflicts; changes in the level of
military spending by the United States government; ability to
retain key personnel; inability to recruit needed personnel; poor
labor relations; the inability to successfully integrate the
operations of the Company's new subsidiaries; the impact of changes
in accounting policies, including those by the Securities and
Exchange Commission and the Public Company Accounting Oversight
Board; the Company's ability to continue to successfully comply
with, and the cost of compliance with, the provisions of Section
404 of the Sarbanes-Oxley Act of 2002 or any revisions to that act
which apply to the Company; the impact of changes and potential
changes in federal laws and regulations adversely affecting our
business and/or which result in increases in our direct and
indirect costs as we comply with such laws and regulations; impact
of future consolidation among competitors and/or among customers
adversely affecting the Company's position with its customers
and/or its market position; actions by customers adversely
affecting the Company in reaction to the expansion of its product
offering in any manner, including, but not limited to, by offering
products that compete with its customers, and/or by entering into
alliances with, making investments in or with, and/or acquiring
parties that compete with and/or have conflicts with customers of
the Company; impact of weather or natural disasters in the areas of
the world in which the Company operates and markets its products;
economic downturns and/or changes in market demand, exchange rates,
productivity, or market and economic conditions in the areas of the
world in which the Company operates and markets its products, and
the Company's success in managing the risks involved in the
foregoing. The Company cautions readers that the foregoing list of
important factors is not exclusive and the Company incorporates by
reference those factors included in current reports on Form 8K, in
the annual report on Form 10K for the fiscal year ended October 31,
2008, and/or in the Company's other filings. AT THE COMPANY: Neil
Wilkin Tracy Smith President & CEO Senior Vice President &
CFO (540) 265-0690 (540) 265-0690 AT JOELE FRANK, WILKINSON BRIMMER
KATCHER: Andrew Siegel Aaron Palash (212) 355-4449 ext. 127 (212)
355-4449 ext. 103 DATASOURCE: Optical Cable Corporation CONTACT:
Neil Wilkin, President & CEO, +1-540-265-0690, , or Tracy
Smith, Senior Vice President & CFO, +1-540-265-0690, , both of
Optical Cable Corporation; Andrew Siegel, +1-212-355-4449 ext. 127,
, or Aaron Palash, +1-212-355-4449 ext. 103, , both of Joele Frank,
Wilkinson Brimmer Katcher Web Site: http:///
http://www.occfiber.com/
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