(NASDAQ: CNLG, CNLGW) Conolog Rescinds Approval of One-for-Three Reverse Split
SOMERVILLE, N.J.--(BUSINESS WIRE)--July 27, 2001--
-- Unequivocally Assures Shareholders There Will Be No Split --
Conolog Corporation announced today that the Board of Directors has decided that it will not, under any circumstances, implement a reverse split, even to maintain the Company's listing on Nasdaq SmallCap.
Conolog President, Marc Benou, stated, "Because the fundamentals of the Company ($3.22 per share book value and nine-month per share earnings of $0.33) far exceed the market value, the Company believes that the stock should reflect the underling value, stay above $1 and maintain our Nasdaq listing."
About Conolog Corporation:
Conolog Corporation provides engineering and design services, technical personnel placement, and computer maintenance services to a variety of industries, government organizations, and public utilities nationwide. The Company's INIVEN division manufactures a line of digital signal processing systems, including transmitters, receivers and multiplexers.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
CONTACT: Conolog Corporation
Marc Benou
President
908/722-8081
www.conolog.com
or
National Financial Network
Geoffrey Eiten
Investor Relations
781/444-6100 or 877/385-0977, ext. 613
geiten@nfnonline.com
www.nfnonline.com/cnlg.
:=) Gary Swancey
