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| DATE: 16 January 2002 | PR240 | ||||||
Steve Todd Named CFO of IFR Systems |
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Wichita, Kan. - January 16, 2002 - IFR Systems, Inc. (Nasdaq: IFRS) announced today that Steve Todd has been named Interim Chief Financial Officer. Todd succeeds Dennis Coley, who resigned to pursue other opportunities. Chief Executive Officer Jeffrey Bloomer said, "Steve has served in a variety of senior management positions at a number of technology companies in his career. His years of operational experience and record of success will be important assets in his new role at IFR . We welcome Steve to our management team. We also want to thank Dennis Coley for his dedication and effort on behalf of our company, and we wish him continued success in his career." Todd, 36 years old, a management consultant since 1996, has participated in a variety of financial management assignments with public and private companies. Prior to working as a management consultant, Todd was employed as a senior financial manager for a manufacturer of life science equipment. Earlier, he was with Arthur Andersen LLP, where he spent five years providing business advisory services to large and small clients. Todd received his law degree from Suffolk University Law School, and his Bachelor of Science in Accountancy from Bentley College. He is an attorney and a Certified Public Accountant, and is a member of the Boston Bar Association and the Massachusetts Society of Public Accountants. IFR - Advancing Wireless Test
IFR is a leading designer and manufacturer of advanced wireless test solutions for communications, avionics and general test and measurement applications. For more information about IFR in the United States, contact: IFR, 10200 West York Street, Wichita, Kan., 67215-8999. Contact IFR via e-mail at info@ifrsys.com, on the Web at www.ifrsys.com, or by telephone at (800) 835-2352 or (316) 522-4981. Forward-Looking Statements This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and the following: the effectiveness of the cost reduction initiatives undertaken by the Company, changes in demand for the Company's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, excess or shortage of production capacity, and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
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