ATLANTA, GA -- Sept. 3, 1996 -- Hayes Microcomputer Products,
Inc. today appointed Marshall Toplansky to the position of Vice
President of Marketing, rounding out the company's post-Chapter 11
senior management team. Mr. Toplansky, former Vice President of
Marketing of modem manufacturer U.S. Robotics, developed key
strategies that resulted in the explosive growth of that company.
Most recently, he has been CEO of Core Strategies, the high
technology growth marketing consulting firm based in Northbrook,
Ill.
"We are very excited to have Marshall join our team," commented
Joseph Formichelli, President and CEO of Hayes. "Our ability to
attract experienced, talented people is critical to our continued
turnaround. Marshall's track record in designing growth-oriented
programs was an important factor in selecting him to lead our
marketing efforts."
"Hayes is an amazingly resilient company," said Toplansky. "It
has successfully maintained its heritage of technological excellence
during the most turbulent period of its 20-year history. Since its
emergence from Chapter 11, it has seen its market share begin to
grow again. The tenacity of its people, combined with new
strategies, place Hayes in an excellent position to re-establish its
market leadership in the rapidly growing data communications arena."
A 1976 MBA graduate of the Harvard Business School, Toplansky
spent the majority of his career at Ogilvy & Mather, the advertising
and marketing services conglomerate. After managing consumer
packaged goods and healthcare accounts for the company, he managed
the firm's relationship with U.S. Robotics in 1988. As a consultant
to the company, and later as Vice President of Marketing, he
developed end-user and channel marketing strategies that resulted in
the company's growing fifteen-fold.
In January, 1996, Mr. Toplansky founded Core Strategies, a
marketing consulting firm that specializes in developing fast growth
sales and marketing strategies for high technology companies.
Mr. Toplansky is a past member of the Board of Advisors of the
Computing Technologies Industry Association, and created the
marketing program for the launch of the organization's highly
successful A+ Certification Program. He also serves on the boards
of directors of three technology companies: Distributed Bits, a
Chicago-based JAVA application software company; SuperSite.Net, a
Silicon Valley-based Internet service company; and Wards Creek
Software, a Baton Rouge, LA-based vendor of employee productivity
software products.
Best known as the inventor of the PC modem, Hayes is recognized
around the globe as a leader in technical innovations, computer
communications standards, functional and feature-rich products, and
superior support and service. Founded in 1977, Hayes develops,
manufactures, and markets value-based computer communications
solutions for software, business, network, and consumer market
segments. The company maintains an extensive global network of
authorized distributors, dealers, mass merchants, VARs, system
integrators and original equipment manufacturers. Hayes customers
include Fortune 1000 corporations, mid-size companies and corporate
branch offices, small and home office businesses, on-line and
telecommunications network providers, and millions of individual PC
users around the globe.
CONTACT: Angela Hooper, Hayes Microcomputer Products, Inc.,
770-840-9200, ext. 6030; Fax: 770-441-1238; Internet:
ahooperhayes.com; or Hayes World Wide Web Site: http://www.hayes.com/
SALT LAKE CITY, UT -- Sept. 3, 1996 -- Dynatronics Corporation
(Nasdaq: DYNT) today announced results of its 1996 fiscal year ended
June 30, 1996. Sales for the year increased 11% to $6,784,748 as
compared to $6,112,241 for the previous year. Over the course of
the fiscal year, the Company recognized $720,103 in non-operating
charges in connection with the bankruptcy of ITEC Attractions, a 36%
owned affiliate of the Company. The recognition of these charges
fully expenses all costs associated with the investment in ITEC.
During the fourth quarter, the Company also booked a charge of
$183,101 related to the write-off of certain obsolete inventories.
The combination of these non-recurring charges resulted in a net
loss for fiscal 1996 of $193,892 as compared to net income of
$217,083 in fiscal 1995.
President Kelvyn H. Cullimore Jr. stated: "We are disappointed
that these non-recurring charges related to ITEC, and the obsolete
inventory mask what was otherwise a very profitable year from
operations. Exclusive of these charges, net income for fiscal 1996
increased 50% over fiscal 1995."
Cullimore continued, "On a positive note, we are pleased to
report that since the acquisition of Superior Orthopaedics on May 1,
1996, overall Company sales are up more than 35%. In addition, the
recent announcement of Dynatronics' appointment as the exclusive
distributor to the domestic physical therapy market for Life-Tech's
iontophoresis products broadens our product line and should increase
sales another 5-10% in the coming year. The introduction of several
other new products in the first and second quarter of fiscal 1997
will further strengthen our position in the market. With net
profits up 50% in fiscal 1996 exclusive of the non-recurring
charges, and with current sales growth exceeding 35%, we remain very
optimistic about the future.
Results for fiscal 1996 compared to the previous year are as follows:
Fiscal Year Ended
June 30
(Unaudited)
1996 1995
Net Sales $6,784,748 6,112,241
Gross Profit Margin 2,901,847 2,594,165
Operating income 262,927 322,551
Other income (expense) (689,793).. 37,019
..Includes ITEC charge
of $720,103
Income before income taxes (426,866) 359,570
Income tax expense (benefit) (232,974) 142,487
Net income (loss) $(193,892) 217,083
Net income (loss) per share $(.02) .O3
CONTACT: Mr. Bob Cardon, Corporate Secretary of Dynatronics Corp.,
800-874-6251