Stratos International Announces Corporate Governance Practices Achievement
06 7월 2006 - 6:00AM
PR Newswire (US)
- Ranked at Top of Peer Grouping by Institutional Shareholder
Services - CHICAGO, July 5 /PRNewswire-FirstCall/ -- Stratos
International, Inc. (NASDAQ:STLW) today announced that the
Institutional Shareholder Services ("ISS") has rated its Corporate
Governance Practices among the highest in the nation among its peer
groups. ISS's Corporate Governance Quotient ("CGQ(R)") for Stratos
International as of July 1, 2006 was 100.0% of the CGQ universe of
companies and was better than 99.6% of Technology Hardware &
Equipment companies, categories that ISS utilizes in its peer
groupings. According to Reg Barrett, chairman of Stratos
International, "The Board of Directors had three primary objectives
during the last several years -- all focused on improving
shareholder value. The first objective was improvement of
operational efficiency through better management. The second
objective was improvement of corporate governance and transparency
with shareholders. And our third objective was development of an
enduring strategy for continuously improving revenue and earnings."
Andy Harris, president and CEO, reports, "Operationally, our
efforts produced significant improvements within every part of the
organization. We completed five consecutive quarters with positive
operating cash flow. Recent gains in sales order backlog, new
sector sales growth, and cost containment reflect our strategy of
penetrating video, military and other selected markets while
simultaneously achieving operating efficiency. We believe we are in
a strong position to capitalize on those improvements." Vice
Chairman Newell Starks followed up by stating, "Stratos
International started three years ago with policies and procedures
which could have been perceived as less than shareholder-friendly,
resulting in relatively low CGQ ratings. Our board agreed at that
time on a plan of action to improve our standing among shareholders
in governance matters. Achieving this top ranking by ISS within our
peer group as quickly and responsibly as we did is a testimony to
the diligent efforts we have made to improve best practices within
our board of directors and management team." 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 environment
applications. 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,
primarily in the telecom/datacom, military/aerospace and video
markets. Stratos International shares trade on the Nasdaq market
under the symbol STLW. The company headquarters is located in
Chicago, IL. For more information call 800.323.6858 or visit the
company website at http://www.stratosinternational.com/ .
DATASOURCE: Stratos International, Inc. CONTACT: Barry
Hollingsworth of Stratos International, Inc., +1-708-457-2379 Web
site: http://www.stratosinternational.com/
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