SCOTTSDALE, Ariz., Sept. 16 /PRNewswire-FirstCall/ -- Mobility Electronics, Inc. , a leading provider of innovative portable computing solutions for the mobile electronics device user, announced today it is taking steps to better focus and leverage resources, reduce operating expenses, and improve customer service by consolidating its Boise, Idaho handheld operations with its connectivity operations in San Diego. The initial phase of the consolidation is expected to be complete by the end of September. The final phase of the consolidation is slated for completion in the second quarter of 2005.
Upon completion of the consolidation, Mobility's connectivity operations, located in San Diego, will be responsible for the development, sales, and marketing of the Company's charging cradle, docking, and expansion solutions. Key employees currently located in Boise have been offered positions either in the consolidated San Diego office or in Mobility's Scottsdale, Arizona office.
"The success and growth of our power business has prompted us to reevaluate the structure of our other businesses and the amount of capital we allocate to them," said Charlie Mollo, chief executive officer of Mobility Electronics. "We continue to believe that we have excellent long-term opportunities with our cradle, docking, and expansion product lines. We expect that this consolidation will allow us to pursue these attractive markets in a more cost-efficient manner, eliminate less productive areas of our connectivity business, and improve its overall profit contribution."
The Company will provide more detailed information on the anticipated expense savings associated with this consolidation in its third quarter earnings announcement in October.
About Mobility Electronics, Inc.
Mobility Electronics, Inc., based in Scottsdale, Arizona, is a rapidly growing developer and marketer of a broad range of innovative solutions for the mobile electronic device market (e.g., mobile phones, portable computers, smartphones, PDAs, digital cameras, etc.). The company's innovative solutions include power adapters, hardware and software products for handheld devices, expansion and docking products for servers, desktop and portable computers, and other accessories for the mobile electronic device market.
Mobility Electronics' brands include both the iGo(TM) and MAGMA(TM) product lines. iGo's flagship products include the industry's first combination AC/DC power adapter, Juice(TM), as well as first-to-market handheld software and accessory products such as Quickoffice(R) and Pitch(TM). The company's MAGMA line of patented expansion products enables the industry's only PCI expansion solutions for servers, desktop and mobile computing users.
Mobility Electronics' products are available to mobile electronic device users directly via the company's online store (http://www.igo.com/) as well as through the company's global distribution base of leading resellers, retailers and OEM partners. For additional information on Mobility Electronics' products and services, call 480-596-0061, or visit its Web site at http://www.mobilityelectronics.com/.
Mobility Electronics and Quickoffice are registered trademarks, and iGo, Juice, Pitch, and MAGMA are trademarks of Mobility Electronics, Inc. All other trademarks or registered trademarks are the property of their respective owners.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the anticipated benefits of the business restructuring and consolidation, including expected reductions in expenses and improvements in overall profit contribution and customer service, as well as anticipated long-term opportunities with the company's cradle, docking and expansion product lines. These forward-looking statements are based on management's current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in the forward-looking statements include unanticipated delays in completing the restructuring and consolidation; unanticipated difficulties in the integration of the handheld hardware and connectivity operations; the loss of, and failure to replace, any significant customers; the timing and success of new product introductions; the development and introduction of new products by us and our competitors; the performance of suppliers and subcontractors; industry and general economic or business conditions; and other factors detailed in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.
For further information, please contact: Tony Rossi Julia Kroner Financial Relations Board Mobility Electronics, Inc. +1-310-407-6563 +1-480-596-0061, ext. 386 trossi@financialrelationsboard.com jkroner@mobl.com
Mobility Electronics, Inc.
Upon completion of the consolidation, Mobility's connectivity operations, located in San Diego, will be responsible for the development, sales, and marketing of the Company's charging cradle, docking, and expansion solutions. Key employees currently located in Boise have been offered positions either in the consolidated San Diego office or in Mobility's Scottsdale, Arizona office.
"The success and growth of our power business has prompted us to reevaluate the structure of our other businesses and the amount of capital we allocate to them," said Charlie Mollo, chief executive officer of Mobility Electronics. "We continue to believe that we have excellent long-term opportunities with our cradle, docking, and expansion product lines. We expect that this consolidation will allow us to pursue these attractive markets in a more cost-efficient manner, eliminate less productive areas of our connectivity business, and improve its overall profit contribution."
The Company will provide more detailed information on the anticipated expense savings associated with this consolidation in its third quarter earnings announcement in October.
About Mobility Electronics, Inc.
Mobility Electronics, Inc., based in Scottsdale, Arizona, is a rapidly growing developer and marketer of a broad range of innovative solutions for the mobile electronic device market (e.g., mobile phones, portable computers, smartphones, PDAs, digital cameras, etc.). The company's innovative solutions include power adapters, hardware and software products for handheld devices, expansion and docking products for servers, desktop and portable computers, and other accessories for the mobile electronic device market.
Mobility Electronics' brands include both the iGo(TM) and MAGMA(TM) product lines. iGo's flagship products include the industry's first combination AC/DC power adapter, Juice(TM), as well as first-to-market handheld software and accessory products such as Quickoffice(R) and Pitch(TM). The company's MAGMA line of patented expansion products enables the industry's only PCI expansion solutions for servers, desktop and mobile computing users.
Mobility Electronics' products are available to mobile electronic device users directly via the company's online store (http://www.igo.com/) as well as through the company's global distribution base of leading resellers, retailers and OEM partners. For additional information on Mobility Electronics' products and services, call 480-596-0061, or visit its Web site at http://www.mobilityelectronics.com/.
Mobility Electronics and Quickoffice are registered trademarks, and iGo, Juice, Pitch, and MAGMA are trademarks of Mobility Electronics, Inc. All other trademarks or registered trademarks are the property of their respective owners.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the anticipated benefits of the business restructuring and consolidation, including expected reductions in expenses and improvements in overall profit contribution and customer service, as well as anticipated long-term opportunities with the company's cradle, docking and expansion product lines. These forward-looking statements are based on management's current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in the forward-looking statements include unanticipated delays in completing the restructuring and consolidation; unanticipated difficulties in the integration of the handheld hardware and connectivity operations; the loss of, and failure to replace, any significant customers; the timing and success of new product introductions; the development and introduction of new products by us and our competitors; the performance of suppliers and subcontractors; industry and general economic or business conditions; and other factors detailed in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.
For further information, please contact: Tony Rossi Julia Kroner Financial Relations Board Mobility Electronics, Inc. +1-310-407-6563 +1-480-596-0061, ext. 386 trossi@financialrelationsboard.com jkroner@mobl.com
Mobility Electronics, Inc.
