Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : VYST View Systems, Inc. Gains Listing in Standard & Poors -- Ignore unavailable to you. Want to Upgrade?

To: Make Money who wrote (38)	4/28/1999 10:44:00 AM
From: Make Money	Respond to of 46

View Systems Signs Letter of Intent to Purchase Eastern Tech Manufacturing Corp. ENGLEWOOD, Colo.--(BUSINESS WIRE)--April 28, 1999-- Publicly-traded View Systems, Inc. (OTC BB:VYST) has entered into a mutual memorandum of understanding to acquire Eastern Tech Manufacturing Corp. From its 8,000 sq. ft. Columbia, Md. plant, Eastern Tech manufactures: biomedical equipment; communications hardware for the Maryland Procurement Office (a government security agency); communications boards for Johns Hopkins Applied Physics Labs (under contract to NASA); connector assemblies for Lockheed Martin's Vertical Launch Systems used in cruise missile launchers; surface mount boards and guidance systems for the defense industries. Over the past 15 years, Eastern Tech has established an excellent industry-wide reputation for its quality controls and timely delivery of electronic assemblies. Eastern Tech serves the needs of a diverse group of clients, including Hewlett Packard, IBM, Martin Marietta Aero & Navel Systems, and Loral. In response to customer needs, Eastern Tech is currently completing an audit for ISO-9002 certification. "Historically, Eastern Tech's annualized sales are between $ 1.4 million and $ 4 million, with an asset base of approximately $700,000 on its balance sheet," Larry Seiler, president of Eastern Tech, stated. "I am excited to have Eastern Tech join View Systems' corporate structure." Typically, Eastern Tech has shown an Income Before Taxes of 32 percent. The acquisition enhances View Systems' earnings per share significantly, by an estimated $ .10 per share. Eastern Tech will become the primary manufacturer of View Systems' digital video security and surveillance systems. Through this vertical integration, View Systems will maximize profitability; better monitor the quality of its products; and assure the timely delivery of large product orders. In addition to manufacturing View Systems' product lines, Eastern Tech will continue to produce electronic hardware for other clients. For additional information call 1-877-VIEW INC (877/843-9462) View Systems, Inc. invites you to learn more at its WEB site: www.viewsystems.com. The above statements, regarding this announcement, which are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including View Systems, Inc. beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to View Systems, Inc. as of such date. It is important to note that actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative and marketplace changes. (ViewSystemsPR.p65) --30--kmw/se* CONTACT: MediaComm Marketing International, Denver Don Montague, 800/367-1275 or 303/762-6444 Website: www.mcomm.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com (c) 1998 Business Wire COPYRIGHT © 1999 REUTERS LIMITED. ALL RIGHTS RESERVED.