[New Company Name, New Ticker: STXN (effective Tues 8/15)]
Friday August 11, 8:01 am Eastern Time
Press Release
SOURCE: DMC Stratex Networks, Inc.
Digital Microwave Corporation Changes Name to DMC Stratex Networks;
Stock Ticker Symbol to Change to 'STXN'
Chairman Charles Kissner to Open Nasdaq Stock Market Trading
on Aug. 15 At the Nasdaq MarketSite in New York Times Square
SAN JOSE, Calif., Aug. 11 /PRNewswire/ -- Digital Microwave
Corporation (Nasdaq: DMIC - news), one of the world's
foremost solutions providers for broadband wireless access,
today announced that its new company name has become DMC
Stratex Networks, Inc., following shareholder approval
earlier this week. In addition, the company announced that
its stock ticker symbol will change to STXN on The Nasdaq
Stock Market® (Nasdaq®), the planned effective date being
Tuesday, Aug. 15.
In celebration of this announcement, Chairman Charles Kissner
will open the day's trading on Nasdaq for Aug. 15 during a
9:30 a.m. (ET) ceremony held at the Nasdaq MarketSite(SM) in
New York City's Times Square. The ceremony includes an
introduction by Kissner of the company's new direction, logo,
and stock symbol to the investor community.
DMC Stratex Networks, which held the Digital Microwave name
since its founding in 1984, is an independent wireless
solutions provider with a leading market share in the
broadband fixed wireless access and mobile wireless solutions
markets. The Nasdaq MarketSite is one of the world's most
advanced mediums for communicating up-to-the-minute market
information for providing public education on the financial markets.
``Today we are a company delivering a broad range of
solutions to wireless service providers, combining a full set
of industry-leading products and services, and focusing much
of our attention on our leadership of the rapidly expanding
new broadband wireless markets,'' said Kissner. ``We are
proud to unveil our new name and logo to the world's
investment community at Nasdaq's MarketSite. With major OEM
customers such as Lucent and Nortel, with cellular service
providers such as China Unicom and Orange PCS, and with
innovative CLEC customers such as Winstar and Teligent, we
look forward to continuing to lead in the markets that we
serve and accelerating our growth further in the future.''
The company's newest solution, the Altium(TM), is a product
family designed to meet the demanding requirements of ultra-
high-speed wireless access networks. Altium combines the
industry's highest broadband wireless access capacity with
the most spectrally efficient wireless modulation available.
It uses the highest density modulation for a broadband
wireless access product (128 QAM) to deliver 155-Mbps
wireless fiber-like capacity in only 28 MHz of radio
frequency bandwidth, half that of similar wireless products.
This efficiency allows wireless-based service providers to
dedicate less of their licensed spectrum for installed
systems, making it the most affordable solution to operate
providing the industry's highest capacity.
With headquarters in San Jose, Calif., DMC Stratex Networks,
Inc., is one of the world's foremost solutions providers for
broadband wireless access -- enabling the development of
complex communications networks worldwide. Since its founding
in 1984, the Company has achieved international recognition
for quality, innovation, and technical superiority in
delivering data, voice, and video communication systems,
including comprehensive service and support. Continuing its
focus on the wireless broadband networking market, DMC
Stratex Networks is strategically positioned to continue its
solutions-based leadership in wireless high-capacity
transmission technology. Additional information can be found
on the Company's web site at www.dmcstratexnetworks.com.
NOTE: The statements in this press release that relate to the
Company's positioning for continued success are forward
looking. These forward-looking statements are based on
current expectations and the Company assumes no obligation to
update this information. The Company's actual results could
differ materially from those anticipated in these forward-
looking statements as a result of certain factors, including
the volume and timing of orders for the Company's products,
the ability of the Company and its suppliers to respond to
changes made by customers in their orders, the ability of the
Company to bring its new products to market quickly at cost-
effective prices and to add innovative features that
differentiate its products from those of its competitors and
competition in the microwave and access business. For a
discussion of such factors, see the ``Risk Factors'' in the
Company's Form 10-K filed on June 29, 2000.
SOURCE: DMC Stratex Networks, Inc. |
