Stratos International Ranked Highest Corporate Governance Rating
December 04 2006 - 11:57AM
PR Newswire (US)
CHICAGO, Dec 4. /PRNewswire-FirstCall/ -- Stratos International,
Inc. (NASDAQ:STLW) announced that Institutional Shareholder
Services has rated Stratos' Corporate Governance Quotient ("CGQ")
Index at its highest possible levels. On December 1, 2006, ISS
rated Stratos at 100.0% of all companies in ISS's CGQ Universe and
100.0% of the companies in ISS's technology hardware &
equipment group. Andy Harris, Chief Executive Officer remarked,
"Our management team is particularly pleased to have achieved our
first quarter of positive net income since 2001 and seventh
consecutive quarter of positive EBITDA. There is no coincidence
that substantially improved operational performance has followed
significant improvements in our corporate governance practices and
processes at Stratos." Reg Barrett, Stratos' Board Chairman and
Chairman of Stratos' Corporate Governance and Nomination Committee
stated, "To the best of our knowledge, the 100.0% CGQ Index places
Stratos at the top of our ISS technology hardware & equipment
industry peer group. We believe only five companies are currently
rated as a dual 100.0% in both the overall and industry indices of
the over 5,500 public companies rated for corporate governance by
ISS." Mr. Barrett added, "Shortly after the November 2003 merger
between Sterling and Stratos, Newell Starks, our Vice Chairman,
spearheaded a systematic program to improve our corporate
governance practices starting with the formation of a Corporate
Governance Committee of the Board of Directors. Continuous efforts
were applied thereafter to improve our best practices in this
important area of corporate governance. Throughout, our company has
strived to be responsive to our customers', employees' and
shareholders' expectations in a results-oriented business
environment." Barry Hollingsworth, Chief Financial Officer
commented, "I have observed and participated in remarkable progress
at Stratos at many levels. Significant change always starts from
the top. At Stratos, this meant from the Board on down. The highest
CGQ Index Rankings obtainable from ISS reflect the significance of
active Board engagement in responsible business oversight
processes, which have rippled down to our management team
engagement and substantial operational improvements, resulting in
both bottom and top-line progress." ABOUT STRATOS INTERNATIONAL
Stratos International, Inc. is a leading designer, developer and
manufacturer of RF and Microwave, as well as optical subsystems,
components and interconnect products used in telecom, enterprise,
military and video markets. Stratos has a rich history of optical
and mechanical packaging expertise and has been a pioneer in
developing several optical devices using innovative form factors
for telecom, datacom and harsh environments application. This
expertise, coupled with several strategic acquisitions, has allowed
Stratos to amass a broad range of products and build a strong IP
portfolio of more than 100 patents. Stratos currently serves more
than 1,300 active customers, who are primarily in telecom/datacom,
military/aerospace and video markets. Stratos' headquarters is in
Chicago, Illinois, USA. DATASOURCE: Stratos International, Inc.
CONTACT: Barry Hollingsworth of Stratos International, Inc.,
+1-708-457-2379 Web site: http://www.stratoslightwave.com/
Copyright
Stratos (NASDAQ:STLW)
Historical Stock Chart
From Aug 2024 to Sep 2024
Stratos (NASDAQ:STLW)
Historical Stock Chart
From Sep 2023 to Sep 2024