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Technology Stocks : DWCH-Datawatch Worth Watching! -- Ignore unavailable to you. Want to Upgrade?

To: Mike 2.0 who wrote (302)	10/28/1997 12:21:00 PM
From: Harold	Respond to of 462

Mike, do you have any opinion on DWCH's action today? Thank you Harold

To: Mike 2.0 who wrote (302)	10/31/1997 1:01:00 PM
From: TJK	Read Replies (1) \| Respond to of 462

Tom Foley decides he's stale & Resigns Post at Datawatch; Bruce Gardner Named CEO WILMINGTON, Mass., Oct. 31 /PRNewswire/ -- DATAWATCH CORPORATION (Nasdaq:DWCH) announced today that Thomas R. Foley has resigned as CEO and a Director to pursue other interests. Mr. Foley has held these positions since founding the Company in 1985. Co-founder and Director Bruce R. Gardner, formerly Executive Vice President, has been named to succeed Mr. Foley. Commenting, Mr. Foley said: ''After 12 years at the helm, now is an opportune time to go on to other things. Our products are well positioned in strong markets, our Balance Sheet is in excellent shape, and the Company is in very capable hands with Bruce Gardner.'' Mr. Gardner added: ''As a result of the recent divestiture of our Macintosh product lines to Dr Solomon's Software, the Company is now focused on Windows - based applications in the Help-Desk and Report Mining markets. With the cash from the divestiture, we now have the financial resources to exploit the full potential of our Monarch and Quetzel/Q-Support products. It's the beginning of a new era for DATAWATCH.'' On October 10, 1997, the Company announced the sale of its Virex and netOctopus product lines to Dr Solomon's Software for $16.75 million in cash. The Company announced today that it will report a pre-tax gain in the first fiscal quarter ending December 31, 1997 of approximately $13.1 million from that transaction, after restructuring costs and one-time charges of approximately $2.8 million. As part of the restructuring, Andrew W. Mathews has resigned as Vice President, Sales. Harold Spurney has been promoted to Vice President U.S. Sales, reporting to Senior Vice President, U.S. Operations Marc Peterson. Betsy Hartwell moves from Corporate Controller to Vice President & CFO; Scott Crenshaw has been promoted to Vice President, Product Development; John Loring becomes Vice President of Information Technology and Robert Hagger moves up to Senior Vice President, International Operations and Managing Director of WorkGroup Systems Ltd. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any such statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. The factors that could cause actual future results to differ materially from current expectations include the following: the Company's expectations for and dependence on its principal products, dependence on the introduction of new products and possible delays in those introductions, actual costs resulting from corporate re-organization and restructurings. Further information on factors that could cause actual results to differ from those anticipated is detailed in various publicly- detailed documents, which include, but are not limited to, filings made by the Company from time to time with the Securities and Exchange Commission, including but not limited to, those appearing in the Company's Form 10-K for the year ended September 30, 1996. Any forward-looking statements should be considered in light of those factors. DATAWATCH CORPORATION develops, markets and distributes advanced software products for the personal computer market. DATAWATCH's principal products are: Monarch(TM), a report mining tool that provides data access, translation and reporting capability to users of networked PCs; and Q-Support(TM) (marketed as Quetzal internationally), a Windows-based help desk and asset management system that provides IS support centers with an integrated, full-service solution in a multi-user, networked environment. NOTE: Datawatch is a registered trademark of Datawatch Corporation. Monarch and Q-Support are trademarks of Datawatch Corporation. All other company or product names are trademarks or registered trademarks of their respective owners. SOURCE DATAWATCH CORPORATION