EX-99.1
2
v119575_ex99-1.htm
Unassociated Document
Exhibit
99.1
FOR
IMMEDIATE RELEASE
WEGENER
Closes Sale of Selected Patents and Patent Applications for $1 Million
Retains
royalty-free usage for products and services
(July
10,
2008) - DULUTH, Georgia - Wegener Corporation (Nasdaq: WGNR), a leading provider
of equipment for television, audio and data distribution networks worldwide,
today announced that WEGENER has completed the previously announced sale of
selected patents and patent applications to EPAX Consulting Limited Liability
Company for net proceeds of approximately $1,075,000. The patents and patent
applications sold relate to the areas of product distinction, system
architecture and IP networking. WEGENER will continue to utilize worldwide
non-exclusive rights under the patents for use in both existing and future
WEGENER products.
"WEGENER
is committed to continually reviewing our technology portfolio for strategic
product development partnerships, OEM agreements and/or technology sales to
benefit our customers and shareholders", stated Robert Placek, Chairman and CEO
of Wegener Corporation. "This sale is an example of a strategic transaction to
monetize our patent portfolio without otherwise harming our business or
prospects".
The
sale
closed on July 3, 2008 and will be reflected in Wegener Corporation's financial
results for the current fiscal fourth quarter, which ends August 29, 2008.
ABOUT
WEGENER
WEGENER®
(Wegener Communications, Inc.), a wholly-owned subsidiary of Wegener Corporation
(Nasdaq: WGNR), is an international provider of digital solutions for video,
audio, and IP data networks. Applications include IP data delivery, broadcast
television, cable television, radio networks, business television, distance
education, business music and financial information distribution. Compel®,
WEGENER's patented network control system, provides networks with unparalleled
ability to regionalize programming and commercials. Compel® network control
capability is integrated into WEGENER® digital satellite receivers. WEGENER® can
be reached at +1.770.814.4000 or on the World Wide Web at www.wegener.com.
WEGENER,
COMPEL, COMPEL CONTROL, iPUMP, MEDIAPLAN, UNITY, ASSURED FILE DELIVERY, PANDA,
PROSWITCH, VIDATA, the stylized W-design logo (for WEGENER®), the stylized
C-design logo (for Compel®) and the stylized PANDA design logo are all
registered trademarks of WEGENER®. All Rights
Reserved.
This
news release may contain forward-looking statements within the meaning of
applicable securities laws, including the Private Securities Litigation Reform
Act of 1995, and the Company intends that such forward-looking statements are
subject to the safe harbors created thereby. Forward-looking statements
may be identified by words such as "believes", "expects", "projects", "plans,"
"anticipates", and similar expressions, and include, for example, statements
relating to expectations regarding future sales, income and cash
flows. Forward-looking 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 products, development of additional
business for the Company's digital video and audio transmission product lines,
effectiveness of the sales organization, the successful development and
introduction of new products in the future, delays in the conversion by private
and broadcast networks to next generation digital broadcast equipment,
acceptance by various networks of standards for digital broadcasting, the
Company's liquidity position and capital resources, general market conditions
which may not improve during fiscal year 2008 and beyond, and success of the
Company's research and development efforts aimed at developing new
products. Discussion of these and other risks and uncertainties are
provided in detail in the Company's periodic filings with the SEC, including the
Company's most recent Annual Report on Form 10-K. 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 results.
Forward-looking statements speak only as of the date the statement was
made. The Company does not undertake any obligation to update any
forward-looking statements.
______________________________________
PRESS
CONTACT:
Robin
Hoffman
Pipeline
Communications
(973)
746-6970
e-mail:
robinhoffman@pipecomm.com
INVESTOR
RELATIONS CONTACT:
Troy
Woodbury - Investor Relations
WEGENER
(770)
814-4000
FAX
(770)
623-9648
e-mail: info@wegener.com
_______________________________________

EX - 99 . 1 2 v119575 _ ex99 - 1 . htm Un associated Document Exhibit 99 . 1 FOR IMMEDIATE RELEASE WEGENER Closes Sale of Selected Patents and Patent Applications for $ 1 Million Retains royalty - free usage for products and services ( July 10 , 2008 ) - DULUTH , Georgia - Wegener Corporation ( Nasdaq : WGNR ) , a leading provider of equipment for television , audio and data distribution networks worldwide , today announced that WEGENER has completed the previously announced sale of selected patents and patent applications to EPAX Consulting Limited Liability Company for net proceeds of approximately $ 1,075,000 . The patents and patent applications sold relate to the areas of product distinction , system architecture and IP networking . WEGENER will continue to utilize worldwide non - exclusive rights under the patents for use in both existing and future WEGENER products . " WEGENER is committed to continually reviewing our technology portfolio for strategic product development partnerships , OEM agreements and / or technology sales to benefit our customers and shareholders " , stated Robert Placek , Chairman and CEO of Wegener Corporation . " This sale is an example of a strategic transaction to monetize our patent portfolio without otherwise harming our business or prospects " . The sale closed on July 3 , 2008 and will be reflected in Wegener Corporation 's financial results for the current fiscal fourth quarter , which ends August 29 , 2008 . ABOUT WEGENER WEGENER ® ( Wegener Communications , Inc . ) , a wholly - owned subsidiary of Wegener Corporation ( Nasdaq : WGNR ) , is an international provider of digital solutions for video , audio , and IP data networks . Applications include IP data delivery , broadcast television , cable television , radio networks , business television , distance education , business music and financial information distribution . Compel ® , WEGENER 's patented network control system , provides networks with unparalleled ability to regionalize programming and commercials . Compel ® network control capability is integrated into WEGENER ® digital satellite receivers . WEGENER ® can be reached at + 1 . 770 . 814 . 4000 or on the World Wide Web at www.wegener.com . WEGENER , COMPEL , COMPEL CONTROL , iPUMP , MEDIAPLAN , UNITY , ASSURED FILE DELIVERY , PANDA , PROSWITCH , VIDATA , the stylized W - design logo ( for WEGENER ® ) , the stylized C - design logo ( for Compel ® ) and the stylized PANDA design logo are all registered trademarks of WEGENER ® . All Rights Reserved . This news release may contain forward - looking statements within the meaning of applicable securities laws , including the Private Securities Litigation Reform Act of 1995 , and the Company intends that such forward - looking statements are subject to the safe harbors created thereby . Forward - looking statements may be identified by words such as " believes " , " expects " , " projects " , " plans , " " anticipates " , and similar expressions , and include , for example , statements relating to expectations regarding future sales , income and cash flows . Forward - looking 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 products , development of additional business for the Company 's digital video and audio transmission product lines , effectiveness of the sales organization , the successful development and introduction of new products in the future , delays in the conversion by private and broadcast networks to next generation digital broadcast equipment , acceptance by various networks of standards for digital broadcasting , the Company 's liquidity position and capital resources , general market conditions which may not improve during fiscal year 2008 and beyond , and success of the Company 's research and development efforts aimed at developing new products . Discussion of these and other risks and uncertainties are provided in detail in the Company 's periodic filings with the SEC , including the Company 's most recent Annual Report on Form 10 - K . 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 results . Forward - looking statements speak only as of the date the statement was made . The Company does not undertake any obligation to update any forward - looking statements . ______________________________________ PRESS CONTACT : Robin Hoffman Pipeline Communications ( 973 ) 746 - 6970 e - mail : robinhoffman@pipecomm.com INVESTOR RELATIONS CONTACT : Troy Woodbury - Investor Relations WEGENER ( 770 ) 814 - 4000 FAX ( 770 ) 623 - 9648 e - mail : info@wegener.com _______________________________________
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