Optelecom-NKF Announces Reduction in Force
16 Setembro 2009 - 5:00PM
PR Newswire (US)
GERMANTOWN, Md., Sept. 16 /PRNewswire-FirstCall/ -- Optelecom-NKF,
Inc. (NASDAQ:OPTC), a leading global supplier of advanced video
surveillance solutions, today announced a reduction in force of 23
positions, both in the U.S. and in Europe as the result of a
strategic review of its operations. "Earlier this year the impact
of the recession prompted us to implement a number of measures to
reduce costs without directly impacting employees," said Dave
Patterson, Optelecom-NKF's president and CEO. "However, it's
apparent that we need to identify additional cost savings as the
economic downturn continues to affect order flow." The Company
expects to record pre-tax charges of approximately $127,000 in
connection with the reduction in force during the third quarter of
2009. Total cost savings are anticipated to be approximately $1.6
million in 2010. The reductions in force include employees,
contract employees and open positions. "We're staying on top of the
business and we're prepared to respond quickly to changing market
conditions," Mr. Patterson continued. "We believe this cost saving
action, the continued rollout of new award winning technologies,
and the refinement of our sales structure positions us for the
future." About Optelecom-NKF Optelecom-NKF, Inc. (NASDAQ:OPTC),
manufacturer of Siqura advanced video surveillance solutions,
provides a full range of cameras, video servers/codecs, network
video recorders, fiber transmission equipment, video content
analysis applications, and video management software based on an
open technology platform that simplifies integration and
installation. We deliver complete solutions for the Traffic
Monitoring, Public Transport, Industrial and Commercial Security,
and Government markets. Our systems are deployed by professionals
at highway departments, airports, seaports, casinos, public
transport authorities, hospitals, Investor inquiries should be
directed to Mr. Rick Alpert at +1 301-948-7872. DATASOURCE:
Optelecom-NKF CONTACT: Rick Alpert of Optelecom, +1-301-948-7872
Web Site: http://www.optelecom-nkf.com/
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