"As outlined in the Company's last conference call on March 12, 2008, we are examining all of our options to improve our position in the marketplace, minimize competitive disadvantages and provide maximum flexibility, which in turn should ultimately create maximum value for shareholders. Management and the Board are considering strategies to provide growth capital and reduce non productive operating costs. Among the options are fund raising alternatives and cost cutting measures such as the voluntary deregistration and delisting of our common stock with the Securities and Exchange Commission," stated Andrew Drenick, President and CEO. The Company expects to review these matters at its previously scheduled April 22nd board meeting.
QualMark Corporation, headquartered in Denver, Colorado, is the leader in designing, marketing, and manufacturing accelerated life-testing systems (HALT and HASS) providing the world's largest corporations with solutions that improve product reliability and allow them to get to market faster. The Company has installed more than 600 of its proprietary testing systems in 35 countries. The Company operates and partners with ten testing facilities worldwide.
The Company also offers electrodynamic vibration solutions through its subsidiary, Ling Electronics.
Ling Electronics, headquartered in West Haven, Connecticut is the leader in supplying electrodynamic systems, components, and service to the worldwide vibration test equipment market.
The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences are detailed in the Company's Securities and Exchange Commission filings, including its Annual Report on Form 10-K filed today, March 31, 2008, and include but are not limited to downturns in the Company's primary markets; variability of order flow, future economic conditions; competitive products and pricing; new product development; disruptions in the Company's operations from acts of God or extended maintenance; transportation difficulties; or the delivery of product under existing contracts and other factors.
Contact:
QualMark Corporation
Anthony Scalese
CFO
303-254-8800
Internet: www.qualmark.com
Investor Relations
Andrew Barwicki
516-662-9461