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Technology Stocks : Cognitronics (AMEX: CGN) -- Ignore unavailable to you. Want to Upgrade?

To: Douglas Perkins who wrote (118)	5/14/1998 12:22:00 PM
From: Sparticus	Read Replies (1) \| Respond to of 142

Cognitronics Tells Stockholders of New Contract Award DANBURY, Conn., May 14 /PRNewswire/ -- Cognitronics Corporation (Amex: CGN - news) told its stockholders today that its UK-based subsidiary, Dacon Electronics Plc, has been selected by a major customer in the British telecommunications industry to supply additional products expected to result in sales in excess of $1.5 million annually over the next few years. Deliveries of the products are expected to begin in the third quarter of 1998 and are subject to the receipt of definitive purchase orders. ''We are pleased with the opportunity to increase our relationship with this customer following a competitive bidding process,'' Brian J. Kelley, president and chief executive officer of Cognitronics, told stockholders this morning at the annual meeting. ''This award offers substantial sales opportunities in the UK telecommunications market in the ensuing years.'' At the annual meeting, stockholders re-elected the seven directors to serve for the ensuing year and voted to approve the amendments to the company's stock option and restricted stock plans and the selection of Ernst & Young LLP as its independent auditors. Statements contained herein which are not historical facts are forward-looking statements. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks and uncertainties including, but not limited to, variability of sales volume quarter to quarter, product demand, market acceptance, litigation, risk of dependence on significant customers, third party suppliers and intellectual property rights, risks in product and technology development and other risk factors detailed in the company's Securities and Exchange Commission filings. Cognitronics is a leading manufacturer and supplier of voice information systems, including telephone network and call management products, to telephone operating companies, other telecommunications providers and original equipment manufacturers. SOURCE: Cognitronics Corporation