[MIZR]
marketguide.com
<<<Business Summary
Mizar, Inc. designs, develops and markets multiprocessor digital signal processing computing sub-systems used for real-time image and signal processing. For the FY ended 6/30/97, net sales fell 18% to $11.5M. Net income decreased 95% to $179K. Revenues reflect lower sales of DSP-based product sales. Earnings also reflect higher product development and engineering costs, expenses related to an employment agreement, and executive search fees. >>>
What's the story on the executive search? I noticed Sam Smith is "chairman and interim CEO." Also that Loughborough's Simon Yates will be President and CEO in the combined company, as yet unnamed.
From the WSJ archives:
<<<07/01/97
Inc.)MIZAR Inc . (Dallas) -- Sam Smith, a company director and former Texas Instruments Inc. executive, was elected chairman and named interim chief executive officer of this provider of computer-hardware components. Mr. Smith, 64 years old, succeeds David H. Irwin, 49, who resigned as president and chief executive but remains a director. The company said the board was having an increasingly difficult time reaching a consensus on growth and acquisition strategies and the lack of consensus led to an agreement that Mr. Irwin would resign. Mr. Irwin, who owns about 13% of the company's shares, said continuing in his previous role didn't make
sense "without the board's support.">>>
Did this lead to the merger? What's the scoop?
Home page:
monster.com
No record of press releases that I could find. Did I just miss them?
I'm new to SSPIF so don't know anything about its competitors. I'd be interested to know more about the merger and what benefits MIZR brings to the equation. I have to be missing something.
I'll try to find out more on Simon Yates when I have time.
Later --
Pat |
