How do you begin stocktalk for company not yet discussed. I am looking for feedback on a company with ticker symbol of rittf. The do see story below - earlier this week intel gave them preferred status (manufacturers choice). I bought shares thinking the company would go up but instead it has dropped.
BTW - I am new to silicon investor.
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Monday November 24, 9:13 am Eastern Time
Company Press Release
SOURCE: RIT Technologies Ltd.
RIT Technologies Ltd. Named as 'Supplier Of Choice' by a Leading
Multi-National Semiconductor Manufacturer
Receives Israel's Outstanding Exporter Award
TEL AVIV, Israel, Nov. 24 /PRNewswire/ -- RIT Technologies Ltd. (Nasdaq:
RITTF - news) announced today that it has been selected as a ''Supplier
of Choice'' by a leading multi-national semiconductor manufacturer. RIT
was one of three companies selected from a group of 15 who submitted
bids for premise wiring systems. The Company is presently installing a
Patchview(TM) and Smart Cabling System(TM) at one of the company's
facilities in Israel, representing a contract worth approximately $1
million.
RIT was chosen a ''Supplier of Choice'' based upon the performance of
the Company's recently announced SMART Giga Cabling System(TM), which
was developed to support emerging high-speed technologies. All
components of the system, which comprise communications outlets, cables,
patch panels and patch cords, significantly exceed all Category 5
specifications. In addition, the SMART Giga Cabling System is the first
system to fully meet all requirements for Level 7, which is the new de
facto standard for high-speed cables and it is believed will be adopted
as the Category 6 standard.
The Company also announced that it has received Israel's Outstanding
Exporter Award in recognition of its export achievements over the last
two years. The Outstanding Exporter Award, which was presented by
Israel's President, Ezer Weitzman, and Minster of Industry and Trade,
Natan Sharansky, is an annual award given to Israeli companies who have
consistently achieved outstanding export growth, and developed new
markets and global opportunities. RIT was among four leading Israeli
high-tech companies recognized with this year's award.
Ofer Bengal, President and Chief Executive Officer, commented, ''We are
very pleased with our selection as a ''Supplier of Choice'' as it
positions RIT among the leading suppliers of premise wiring systems in
terms of quality and innovation. We believe this major achievement will
be significant in helping us increase our market penetration in the
United States and expand our overall worldwide sales.''
Mr. Bengal continued, ''Our achievement and recognition as an
Outstanding Exporter Award recipient is the result of two years of hard
work resulting in excellent sales. This award is another validation of
our emergence as a leading Israeli high-tech company. With plans for
further market expansion and exciting new products and features in the
pipeline for 1998, we are well positioned for another strong year.''
RIT is engaged in the development, manufacture and sale of premise
wiring products and premise and local loop connectivity management
systems. RIT's sales network includes a wholly owned subsidiary in the
United States and more than 100 independent distributors in 55
countries. End-users of its products include government agencies,
high-technology companies, financial enterprises, large industrial
enterprises, media companies and telecommunications companies.
Statements in this press release, other than statements of historical
information, are forward-looking statements that are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such statement include known and unknown risks which may
cause the Company's actual results in future periods to differ
materially from expected results. Important factors that could cause the
Company's actual results to differ from those contained in
forward-looking statements are discussed in greater detail in periodic
reports filed by the Company with the Securities and Exchange Commission
which the Company urges investors to consider.
SOURCE: RIT Technologies Ltd.
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