Micronetics Announces Resignation of CFO
January 25 2008 - 10:30AM
Business Wire
Micronetics, Inc. (NASDAQ: NOIZ) announced today that Diane Bourque
has notified the company of her resignation from her position as
Vice President and Chief Financial Officer, effective February 15,
2008, for personal reasons. David Robbins, President and Chief
Executive Officer of Micronetics will act as interim Chief
Financial Officer. Micronetics has already initiated a search for a
new chief financial officer, and until a replacement is named, the
company�s Corporate Controller will assume additional duties. In
addition, Ms. Bourque has agreed to serve as a consultant and
advisor through July 31, 2008 to assist with the preparation of the
company�s financial statements in connection with the annual audit.
David Robbins, President and Chief Executive Officer of Micronetics
said, �We appreciate the contributions Diane has made to
Micronetics during her tenure here and wish her the very best with
her future endeavors. Diane led the effort in building the
company�s financial reporting infrastructure and as a direct result
of her leadership, we are fortunate to have a capable financial
team in place to ensure an orderly transition while we search for a
new CFO.� The Board of Directors and management of Micronetics wish
to thank Ms. Bourque for her dedication and service to the company.
About Micronetics: Micronetics manufactures microwave and radio
frequency (RF) components and integrated sub-assemblies used in a
variety of defense, aerospace and commercial applications.
Micronetics also manufactures and designs test equipment and
components that test the strength, durability and integrity of
communication signals in communications equipment. Micronetics
serves a diverse customer base, including Aerosat, Airspan, BAE
Systems, Boeing, EADS, General Dynamics, Harris, IPWireless, ITT,
L-3 Communications, Lockheed Martin, Northrop Grumman, Qualcomm,
Raytheon, Teradyne, Tektronix, Thales and UTStarcom. Additional
information can be found on our website at www.micronetics.com.
Some of the statements contained in this news release are
forward-looking statements. The accuracy of these statements cannot
be guaranteed as they are subject to a variety of risks, including
but not limited to reductions in spending by certain of our
customers, our ability to operate and integrate acquired companies,
our ability to manage our growth, disruptions in supply or
production, increased levels of debt, our ability to protect our
proprietary information, future economic conditions in our industry
and generally, as well as other factors. The information in this
release should be reviewed in conjunction with Micronetics' Annual
Report for its fiscal year ended March 31, 2007 as well as its
other filings with the Securities and Exchange Commission.
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