NORWOOD, Mass., April 21 /PRNewswire-FirstCall/ -- Elcom International, Inc. ("Elcom" or the "Company") (BULLETIN BOARD: ELCO) and (AIM: ELC and ELCS), a leading international provider of remotely-hosted eProcurement and eMarketplace solutions, today announced that four of its Directors, Robert J. Crowell, the Chairman, William W. Smith, the Vice-Chairman, Mr. Richard J. Harries, Jr. and Mr. John W. Ortiz, stepped off the Board of Directors (the "Board") as their pre-dated resignations became effective today. This arrangement was previously agreed to with the new majority stockholders of Elcom on March 23, 2006, as announced at that time. The two remaining members of the Board, John E. Halnen, President and CEO and Sean P. Lewis, subsequently appointed Mr. Elliot Bance of Caterham, Surrey, U.K., and Mr. Justin Dignam of Orange, California, to the Board.
Robert J. Crowell, on behalf of all the departing Directors, commented, "The departing Directors would like to thank all of Elcom's clients and strategic partners that assisted Elcom over the past several years and most importantly, all of the associates of the Company, as they built the foundation for Elcom's future success."
John E. Halnen, Elcom's President and CEO, stated, "I am pleased that Elcom now has a deeper pool of potential capital to help support Elcom's growth in the future. On behalf of the management of Elcom, I would like to thank all of the previous Directors for their efforts over the years. Looking to the future, I look forward to expanding the client base for Elcom's eProcurement and eMarketplace products in the government and private sectors around the world."
Elcom Product Offerings
For detailed information on Elcom's PECOS(TM) technology and optional Dynamic Trading functionality, please visit Elcom's website at: http://www.elcominternational.com/products.htm.
About Elcom International, Inc.
Elcom International, Inc. (BULLETIN BOARD: ELCO and AIM: ELC and ELCS) , is an international B2B Commerce Service Provider offering affordable solutions for buyers, sellers and commerce communities to automate many or all of their procurement processes and purchase most or all of their goods and services in a 'private' eMarketplace system. PECOS, Elcom's remotely-hosted flagship solution, enables enterprises of all sizes to achieve the many benefits of eProcurement and eMarketplace functionality, with the system hosted by Elcom at its own data center, eliminating the burden and cost of in-house programming, IT infrastructure and ongoing catalog content and system management. More information is available from Elcom's integrated web site at: http://www.elcominternational.com/.
Statement Under the Private Securities Litigation Reform Act
Except for the historical information contained herein, the matters discussed in this press release could include forward-looking statements or information. All statements, other than statements of historical fact, including, without limitation, those with respect to the Company's objectives, plans and strategies set forth herein and those preceded by or that include the words "believes," "expects," "targets," "intends," "anticipates," "plans," or similar expressions, are forward-looking statements. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that the Company's expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties which could cause the Company's future results to differ materially from those anticipated, including: (i) the ability of the Company to retain key executives; (ii) the necessity for the Company to generate incremental operating revenues and whether this objective can be met given the overall marketplace and client's acceptance and usage of eCommerce software systems, eProcurement and eMarketplace solutions including corporate demand therefore, the impact of competitive technologies, products and pricing, particularly given the substantially larger size and scale of certain competitors and potential competitors, and control of expenses, revenue growth; (iii) the consequent results of operations given the aforementioned factors; and (iv) the necessity of the Company to achieve profitable operations within the constraints of its existing resources, and if it can not, the availability of incremental capital funding to the Company and other risks detailed from time to time in its 2005 Annual Report on Form 10-KSB, as amended and in its other SEC reports and statements, including particularly the "Risk Factors" contained in the prospectus included as part of the Company's Registration Statement on Form S-3 filed on June 21, 2002.
Company Contact:
Investor Relations
e-mail:
