Verso Technologies, Inc., a global provider of next generation network solutions, announced today that senior management will present at this years AeA (formerly the American Electronics Association) Micro Cap Financial Conference in Monterey, California on May 8, 2007.
"This is an important financial conference that is attended by many of the institutional investors, investment bankers, and Wall Street and industry analysts that we will be working with over the next few years as we move forward with our strategic financial and operating plans," said Monty Bannerman, CEO of Verso. "We have made three strategic acquisitions over the last year and through the recent acquisition of SentitO, we have filled the last remaining void in our product strategy. Our strategy is tightly focused on delivering an end-to-end next generation VoIP solution to carriers which can be integrated into both wireline and wireless service providers. We believe these acquisitions and our strategic shift towards OEM distribution and larger carrier relationships have combined to create the inflection point in our business. As a result, we believe it is now time to show the financial community how our value proposition is expected to translate into revenue and an increased revenue pipeline. The VoIP, WiMAX, GSM and other markets that we serve are projected to see spending of over $200 billion over the next five years. We believe Verso is positioned squarely in front of that spending, and based upon our current view, we expect to accomplish our goal of achieving between $60 and $70 million in revenue for 2007," added Bannerman.
The AeA, founded in 1943, is the largest association of technology companies in the United States with about 2,500 companies with 1.8 million employees. Their national Micro Cap Financial Conference is an annual conference limited to approximately 100 member companies and is attended by numerous institutional investors, investment bankers, and financial and industry analysts worldwide. A link to the various webcasts and presentations delivered to conference attendees will be made available on the Investor Relations page of the Verso website, www.verso.com. More information on the AeA and the 2007 Micro Cap Financial Conference can be found at www.AeAnet.org.
About Verso Technologies
Verso is a global provider of next generation network solutions offering a core-to-edge product portfolio primarily for telecommunications service providers. The company's products enable its customers to secure and optimize network bandwidth, generate additional revenue and reduce costs. Verso's applications and services are cost effective, deploy quickly and provide a superior return on investment. For more information, contact Verso at www.verso.com or call 678.589.3500.
About AeA
AeA (formerly the American Electronics Association), founded in 1943, is a nationwide non-profit trade association that represents all segments of the technology industry and is dedicated solely to helping our members' top line and bottom line. We do this in partnership with our small, medium, and large member companies by lobbying governments at the state, federal, and international levels; providing access to capital and business opportunities; and offering select business services and networking programs.
Forward Looking Statements
Certain statements contained in this release that are not statements of historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words - "believe," "expect," "anticipate," "intend," "will," and similar expressions are examples of words that identify forward-looking statements. Forward-looking statements include, without limitation, statements regarding our future financial position, timing of future orders, business strategy and expected cost savings. These forward-looking statements are based on our current beliefs, as well as assumptions we have made based upon information currently available to us. These forward-looking statements may be affected by the risks and uncertainties in our business and are qualified in their entirety by the cautionary statements and risk factor disclosure contained in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2006. We do not assume, and expressly disclaim, any obligation to update these forward-looking statements.
Contact:
Verso Technologies, Inc., Atlanta
Investor Contact
Scott Kimball, 678-589-3579
Vice President of Investor Relations
Scott.Kimball@verso.com
Source: Verso Technologies, Inc.
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