Laurence Mulhern Joins Elcom as Chief Financial Officer
June 09 2004 - 6:00PM
PR Newswire (US)
Laurence Mulhern Joins Elcom as Chief Financial Officer Former CFO
rejoins Elcom International, Inc. NORWOOD, Mass., June 9
/PRNewswire-FirstCall/ -- Elcom International, Inc.
(OTC:ELCOOTC:andOTC:AIM:OTC:ELCOTC:andOTC:ELCS) (BULLETIN BOARD:
ELCO and AIM: ELC and ELCS) , today announced that Laurence Mulhern
has rejoined Elcom International, Inc. ("Elcom" or the "Company")
as its Chief Financial Officer, effective June 7, 2004. Mr. Mulhern
retired from Elcom in 2000. Robert J. Crowell, Elcom's Chairman and
CEO, said "Elcom has employed Larry as a financial consultant for
the past several months and I am pleased to announce that he has
rejoined the Company as CFO. Larry was instrumental in Elcom's
previous growth stages and I look forward to his assistance as we
begin to again grow the Company." Larry Mulhern stated, "I am
impressed that Elcom was able to withstand the very harsh
environment after 9/11. Since that time, raising capital has been
very difficult. With Elcom's latest funding round and listing on
the AIM exchange, I believe Elcom has the basic framework to
successfully grow the Company and I look forward to contributing to
that success." About Elcom International, Inc. Elcom International,
Inc. (OTC:ELCOOTC:andOTC:AIM:OTC:ELCOTC:and ELCS) (BULLETIN BOARD:
ELCO and AIM: ELC and ELCS) , operates elcom, inc. a global B2B
Commerce Service Provider (CSP) offering affordable solutions for
buyers, sellers and commerce communities to conduct business
online. Elcom's flagship solution, PECOS, enables enterprises of
all sizes to achieve the many benefits of B2B eCommerce without the
burden of infrastructure investment and ongoing content and system
management. STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT Except for the historical information contained herein,
the matters discussed in this press release could include
forward-looking statements or information. All statements, other
than statements of historical fact, including, without limitation,
those with respect to the Company's objectives, plans and
strategies set forth herein and those preceded by or that include
the words "believes," "expects," "targets," "intends,"
"anticipates," "plans," or similar expressions, are forward-looking
statements. Although the Company believes that such forward-looking
statements are reasonable, it can give no assurance that the
Company's expectations are, or will be, correct. These
forward-looking statements involve a number of risks and
uncertainties which could cause the Company's future results to
differ materially from those anticipated, including: (i) the
Company's history of ongoing operating losses; (ii) the overall
marketplace and clients' acceptance and usage of eCommerce software
systems, specifically the Company's PECOS eProcurement and
eMarketplace systems, and demand therefor by public sector
organizations in the U.K., the impact of competitive technologies,
products and pricing, particularly given the substantially larger
size and scale of certain competitors and potential competitors,
control of expenses, revenue growth, and corporate demand for
eProcurement and eMarketplace solutions; (iii) the consequent
results of operations given the aforementioned factors; (iv) the
possibility that the Company's revenues may not reach the level
necessary to support positive cash flow and if so, the Company
might need to raise additional working capital to fund operations
in the future; (v) the availability and terms of any such funding
to the Company, if available, and (vi) other risks detailed in the
Company's Annual Report on Form 10-K, filed on May 10, 2004, as
amended, in its Form 10-QSB for the first quarter of 2004 filed on
May 14 2004, and from time to time in its other SEC reports and
statements. The Company assumes no obligation to update any of the
information contained or referenced in this press release. Company
Contact: Investor Relations e-mail: DATASOURCE: Elcom
International, Inc. CONTACT: Investor Relations of Elcom
International, Inc., Web site: http://www.elcom.com/
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