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Technology Stocks : VitalStream Holdings Inc. (VSTH)
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To: Paul Lee who wrote (88)2/10/1998 4:51:00 PM
From: Paul Lee  Read Replies (2) of 447
 
sounds like the turnaround has begun

Larson-Davis Secures Equity Funding of $3.5 Million

PROVO, Utah, Feb. 10 /PRNewswire/ -- Larson-Davis Inc. (Nasdaq: LDII) announced today that it has raised $3.5 million by way of a private placement of preferred stock and warrants to a limited number of institutions and private individuals. Additional details of this placement will be provided by the Company in its 8-K filing with the Securities and Exchange Commission to be made in the next few business days.

CEO Andrew Bebbington said, "The turnaround of the Larson-Davis acoustics business is well under way with most of the cost cutting initiatives now in place. I am pleased to announce that deliveries of the Company's 824 analyzer began this week. This product has suffered from delays, however, it contains a variety of exciting features, which we anticipate being well received by the market. As a result, we expect the 824 to yield a significant contribution to the Company in 1998. This represents the first step in remodeling our product offering and reestablishing our competitive market position in the acoustics area.

With the new financing in place, Larson-Davis can now focus on launching its Jaguar and SFC technologies over the coming months in order to increase revenues and permit the Company to meet its goal of achieving profitability in the latter part of the year."
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