PLAINVIEW, N.Y.--(BUSINESS WIRE)--June 9, 2005—Aeroflex Incorporated (Nasdaq Symbol:ARXX), spécialiste de premier plan dans la conception, le développement et la fabrication de bancs de test automatisés et de solutions de microélectronique destinés aux secteurs de l'aéronautique, de la défense et des communications à large bande, a annoncé aujourd'hui avoir atteint de nouveaux objectifs de son programme de réduction des coûts opérationnels.
Aeroflex Incorporated Achieves Further Advances in Its Cost Reduction Program
PLAINVIEW, N.Y.--(BUSINESS WIRE)--June 9, 2005--Aeroflex Incorporated (Nasdaq Symbol:ARXX), a leading designer, developer and manufacturer of automated testing solutions and microelectronics for the aerospace, defense and broadband communications markets, announced today that it has made further strides in reducing its operating costs.
"In our continuing efforts to streamline operations and reduce our operating expenses, we will be further reducing our workforce during the current quarter ending June 30, 2005," said Michael Gorin, Vice Chairman and CFO.
"Our fourth quarter results of operations will reflect a charge of approximately $1.6 million ($.01 per diluted share) for severance costs.
We expect to achieve annual savings, consisting primarily of salary and benefits, of approximately $3.2 million
." About Aeroflex Aeroflex Incorporated is a global provider of high technology solutions to the aerospace, defense and broadband communications markets.
The Company's diverse technologies allow it to design, develop, manufacture and market a broad range of test, measurement and microelectronic products.
The Company's common stock trades on the Nasdaq National Market System under the symbol ARXX and is included in the S&P SmallCap 600 index.
Additional information concerning Aeroflex Incorporated can be found on the Company's Web site: www.aeroflex.com
All statements other than statements of historical fact included or incorporated by reference in this press release regarding Aeroflex's financial position, business outlook, business strategy and plans and objectives of its management for future operations are forward-looking statements.
When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Aeroflex or its management, identify forward-looking statements.
Such forward-looking statements are based on the current beliefs of Aeroflex's management, as well as assumptions made by and information currently available to its management.
Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, competitive factors and pricing pressures, the integration of the businesses of both JcAir, Inc.
and the Test and Measurement division of UbiNetics Holdings Ltd., changes in legal and regulatory requirements, technological change or difficulties, product development risks, commercialization difficulties and general economic conditions.
Such statements reflect our current views with respect to the future and are subject to these and other risks, uncertainties and assumptions relating to Aeroflex's financial condition, results of operations, growth strategy and liquidity.
Aeroflex does not undertake any obligation to update such forward-looking statements
Investor Inquiries: Michael Gorin, 516-694-6700
KEYWORD: NEW YORK
INDUSTRY KEYWORD: MANUFACTURING ADVERTISING/MARKETING AEROSPACE/DEFENSE GOVERNMENT
SOURCE: Aeroflex Incorporated