Frequency Electronics Notes Passing of a Director
03 1월 2011 - 11:51PM
The following statement was issued today by General Joseph
Franklin, Chairman of the Board of Frequency Electronics, Inc.
(Nasdaq:FEIM.):
"We are deeply saddened to report the death of Dean E. Donald
Shapiro at his home in Phoenix, Arizona on December 27,
2010. Don has been a valued member of our Board of Directors
since 1998, and held the key Chair of our Audit Committee during
that time. In that role, he led the continuing refinement of
FEI's financial control and reporting systems to meet the highest
standards of our industry. His accomplishments in the applied
practice of law are well chronicled in the archives of our nation's
legal journals. As Dean Emeritus of the New York Law School,
he was widely credited with transforming the way lawyers and
doctors work to make health law coherent, and to advocate health
policies that promote justice and fairness for the
patient. The framework of health law envisioned by Dean
Shapiro now has an established place in legal and medical
education, as well as in legal and medical practice. He was a
Director of Loral Space & Communications, Ltd., and other
prominent corporations, and to all of us at Frequency Electronics
he was a warm and cherished friend. Our Directors and
employees join Don's many friends in celebrating his lifetime
accomplishments and offering our sincere condolences to his
family."
About Frequency Electronics
Frequency Electronics, Inc. is a world leader in the design,
development and manufacture of high precision timing, frequency
control and synchronization products for space and terrestrial
applications. Frequency's products are used in commercial,
government and military systems, including satellite payloads,
missiles, UAVs, aircraft, GPS, secure radios, SCADA, energy
exploration and wireline and wireless communication networks.
Frequency has received over 60 awards of excellence for
achievements in providing high performance electronic assemblies
for over 120 space programs. The Company invests significant
resources in research and development and strategic acquisitions
world-wide to expand its capabilities and markets.
Subsidiaries and Affiliates: Gillam-FEI provides expertise in
wireline network synchronization and SCADA; FEI-Zyfer provides GPS
and secure timing ("SAASM") capabilities for critical military and
commercial applications; FEI-Asia provides cost effective
manufacturing and distribution capabilities in a high growth
market. Frequency's Morion affiliate supplies high-quality,
cost effective quartz oscillators and components. Elcom
Technologies provides added resources for state-of-the-art RF
microwave products. Additional information is available on
the Company's website: www.frequencyelectronics.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The Statements in this press release regarding
the future constitute "forward-looking" statements pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements inherently involve
risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Factors that
would cause or contribute to such differences include, but are not
limited to, inability to integrate operations and personnel,
actions by significant customers or competitors, general domestic
and international economic conditions, consumer spending trends,
reliance on key customers, continued acceptance of the Company's
products in the marketplace, competitive factors, new products and
technological changes, product prices and raw material costs,
dependence upon third-party vendors, competitive developments,
changes in manufacturing and transportation costs, the availability
of capital, and other risks detailed in the Company's periodic
report filings with the Securities and Exchange Commission. By
making these forward-looking statements, the Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release.
CONTACT: Frequency Electronics, Inc.
Alan Miller, CFO
General Joseph P. Franklin, Chairman
(516) 794-4500
www.frequencyelectronics.com
Frequency Electronics (NASDAQ:FEIM)
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