ETEC qualifies to bid on more NJ projects
This could mean significantly more business ... stock looks cheap at $1.80 with EPS of .21 through 9mos of their March fiscal year (excluding .04 charge in Q3). EPS is fully taxed and diluted. Easy comparison coming up in March versus .01 last year. Stock is down from a recent high of 3.15.
TRENTON, N.J., March 2, 2005 (PRIMEZONE) -- Emtec Inc. (OTC BB:ETEC.OB - News) announced today it has received the SCC Contractor pre-qualification for the telecommunications discipline from the New Jersey Schools Construction Corporation (SCC), a subsidiary of the New Jersey Economic Development Authority (EDA). The SCC is a public agency responsible for implementing an $8.6 billion overhaul of the educational infrastructure of hundreds of schools throughout New Jersey.
The SCC is entrusted with the responsibility for financing, designing and constructing all of the school facilities projects in Abbott districts - school districts that receive 55 percent or more in state funding for education. In addition they are also responsible for providing grants to fund the state share of facilities projects in non-Abbott districts.
This classification enables Emtec to participate in the bidding process on specialty construction contracts advertised by the SCC. The requirements for this qualification include having a current classification with the New Jersey Department of Treasury, Division of Property Management and Construction (DPMC).
``We are pleased to have received this designation with the SCC and we look forward to the opportunity to provide telecommunications solutions to the New Jersey school systems utilizing State funding through the SCC,' said John Howlett, Emtec CEO.
