SISI - Nice PR. This fund sounds interesting as well. They are also smart.
MidSouth Investor Fund Acquires 9.3% Ownership in SI Technologies, Inc.
Monday September 23, 8:33 am ET
TUSTIN, Calif., Sept. 23 /PRNewswire-FirstCall/ -- SI Technologies, Inc. (Nasdaq: SISI - News), which designs, manufactures and markets high-performance industrial sensors, weighing and factory automation equipment and systems and related products, today reported that MidSouth Investor Fund has purchased 334,300 shares of the Company's common stock (approximately 9.3% of the total shares outstanding) from an undisclosed previous investor. The Company is announcing this in response to shareholder requests for information on the transaction, which was reported on financial newswires on September 5, 2002.
MidSouth Investor Fund, which is headquartered in Atlanta, Georgia, specializes in small- and micro-cap stocks. The fund's management states that the purchase of SI Technologies common stock was made for investment purposes.
"Our fund's primary focus is upon 'value' stocks," commented Buzz Heidtke, Portfolio Manager for MidSouth Investor Fund. "SI Technologies has earned $0.20 per share during the first nine months of fiscal 2002, and with the stock selling below $1.00 and substantially below book value, we felt it was an appropriate addition to our investment portfolio."
SI Technologies, Inc. is a leading designer, manufacturer and marketer high-performance industrial sensors/controls, weighing and factory automation systems and related products. Its proprietary products enjoy leading positions in their respective markets, while sharing common technologies, manufacturing processes, and customers. The Company is positioned as an integrator of technologies, products and companies that are involved in the handling, measurement and inspection of goods and materials. SI Technologies' products are used throughout the world in a variety of industries, including aerospace, aviation, food processing and packaging, forestry, manufacturing, mining, transportation, warehousing/distribution, and waste management. The Company is headquartered in Tustin, California, and its common stock trades on Nasdaq under the symbol "SISI".
This press release includes statements which may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made 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, continued acceptance of the Company's products in the marketplace, competitive factors, dependence upon third-party vendors, 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.
For further information, please contact:
Rick A. Beets, President, CEO 714-505-6483
or
RJ Falkner & Company, Inc., Investor Relations Counsel at (800) 377-9893 via
e-mail at info@rjfalkner.com |
