ORLANDO, Fla.--(BUSINESS WIRE)--Oct. 13, 1999--
ECC International Corp. (NYSE: ECC) announced that the New York Stock Exchange has accepted the company's business plan, which will bring it into compliance with the Exchange's new continued listing criteria.
With the acceptance
Dr. James C. Garrett, ECC president and chief executive officer, presented the company's business plans for fiscal year 2000 and 2001 to the New York Stock Exchange on September 23, 1999. The plan demonstrated the company's ability to comply with the continued listing criteria of $50 million in total market capitalization and not less than $50 million in stockholder's equity within 18 months.
Garrett stated: "I am very pleased with the decision of the New York Stock Exchange and believe that ECC can achieve the goals set forth in our business plans."
ECC International Corp. is a world leader in the design, development and production of simulators and related training programs for crew, operator and maintainer training. The company provides a wide range of products and services used by all branches of the U.S. Department of Defense and by armed forces in 25 countries.
Any statements contained in this release that relate to future plans, events or performance, including the company's continued listing on the Exchange, are forward-looking statements that involve risk and uncertainties, including, but not limited to, general economic conditions, cancellation of weapons programs, delays in contract awards, the introduction of new products by, and pricing practices of, the company's competitors, and other risks identified in the company's Securities and Exchange Commission filings. Actual results, events or performance may differ materially. Readers are cautioned not to place undo reliance on these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.