Message #36 From:
NewsBot Date: September 21, 2005 06:09:00 AM
AID News Law Enforcement Associates Appoints Chief Financial Officer; Michael Wagner Brings Financial and Project Management Expertise to Growing Company
YOUNGSVILLE, N.C.--(BUSINESS WIRE)--Sept. 21, 2005--Law Enforcement Associates Corporation (AMEX:AID), a leading surveillance and security technology company which manufactures and markets products globally to the law enforcement, military, security and corrections markets, today announced the appointment of Mike Wagner as Chief Financial Officer and the Company's Principal Financial and Accounting Officer.
Mr. Wagner, age 58, has a Bachelor of Science in accounting from Tri State University, Indiana, and has spent the past decade using his financial and project management skills to guide the growth of companies. From 2002 until recently, he was a consultant for DM2 Software in Vancouver, Washington, serving as project manager and account manager for small to large petroleum jobbers, as well as installing and training management on accounting systems, planning, controls and procedures. From 1998-2001, as controller at Yoder Oil Company in Elkhart, Indiana, he guided the Company's financial decisions by establishing, monitoring and enforcing accounting policies and procedures. From 1996-1997, he was the Vice President of Finance for Rollie Williams Paint Spot where he installed a new accounting program and implemented financial control systems to accelerate inventory returns and directed purchasing.
"It is a pleasure to have Mike Wagner on board as the Company's CFO," stated Paul Feldman, President of Law Enforcement Associates. "As we focus on growth, as demonstrated by our recent acquisition of the assets of Audio Intelligent Devices and our move to the American Stock Exchange, we need a dedicated professional to implement the appropriate fiscal control systems. Mike's knowledge of accounting and business development will make him a key member of our senior management team. Along with our audit committee, we believe that we now have all the people and procedures in place to assure the public that we will maintain our high standards of financial reporting, and can focus on increasing shareholder's value."
LEA (AMEX: AID), is a leading security and surveillance technology company which manufactures and markets diverse products globally to law enforcement, military, security and corrections markets. Its products are used by a wide variety of government and non-governmental agencies, and public and private companies. These include military bases, nuclear facilities, embassies, government installations, oil refineries, United Nations and NATO locations; they are also used at high profile events such as the Summer & Winter Olympics, Super Bowl, US Golf Championship, and the Democratic & Republican National Conventions. Its products include the Under Vehicle Inspection System (UVIS), EDK123 (Explosive Detection Kit), Stun Pistol, Bloodhound GPS Tracking System, Letter bomb Visualizer Spray, and a wide variety of Audio & Video Surveillance Equipment. Headquartered in Youngsville, N.C., the Company has been featured in many industry publications and websites. For more information on LEA, visit www.leacorp.com.
Forward-Looking Information:
The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including the inability to generate and secure the necessary product sale, or the lack of acceptance of the company's products by its customers. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.
