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FOR IMMEDIATE RELEASE
SCIENCE
DYNAMICS
Realigns to
Position Inmate Call Control
CHERRY HILL, N.J., January 25, 2002 /PRNewswire/ --
Science
Dynamics Corporation, SciDyn, (OTCBB: SIDY), a leading developer of
advanced telecommunications solutions, took bold steps this week to
bolster its commitment to the inmate call control business. Through a strategic reorganization plan, changes are being
implemented to focus current business operations around SciDyn’s core
Commander Call Control product line.
“By streamlining and reallocating its workforce, SciDyn is taking a
major step toward achieving our Commander initiatives,” said Joy
Hartman, SciDyn President and Chief Executive Officer.
“Like other companies in our industry and related industries,
the economy has forced us to take a close look at our staffing levels
and make adjustments accordingly. The
company is struggling to meet its financial targets in a weakened
telecom market. Cost
management must be a permanent way of life.
The reduction in force affected employees from all areas
including senior management, administration and engineering.”
These initiatives are the first steps in stabilizing and restructuring
the company. With these
changes we will conserve our limited financial resources to provide
superior technology and telecommunications services to jail and prison
administrators in managing their inmate telephones.
SciDyn will continue to develop its VoIP platform on a reduced
basis focusing primarily on additional features and functionality.
The expected cost savings from this restructuring is intended to
bring future benefit and value to Scidyn and its customer accounts by
refining operational efficiencies for continued technological
development.
About
Science Dynamics Corporation
Headquartered in Cherry Hill, New Jersey, Science
Dynamics Corporation (SciDyn) is a developer of telecommunications
solutions. SciDyn's IP telephony products enable the seamless connection
between traditional circuit switch-based networks and the next
generation of packet-based networks. Products include: The
IntegratorC-2000® series of IP Telephony Gateways, the Commander call
control phone system (also based on the IntegratorC- 2000®
architecture) and the VFX-200 series of Video over Frame Relay Access
Devices. Visit Science
Dynamics' Web site at http://www.scidyn.com.
The Company is making this statement in order to satisfy the “safe
harbor'' provisions contained in the Private Securities Litigation
Reform Act of 1995. This press release includes forward-looking
statements relating to the business of the Company. Forward-looking
statements contained herein or in other statements made by the Company
are made based on management's expectations and beliefs concerning
future events impacting the Company and are subject to risks,
uncertainties and factors relating to the other factors, all of which are difficult to
predict and many of which are beyond the control of the Company, that
could cause actual results of the Company to differ materially from
those set forth above and elsewhere in the Annual Report. The Company
may encounter competitive, technological, and financial and business
challenges making it more difficult to market its products and services,
the impact of which may in matters expressed in or implied by
forward-looking statements. The Company believes that the following
factors, among others, could affect the Company's results of operations
and financial position, affect its future performance and cause actual
results of the Company to differ materially from those expressed in or
implied by forward-looking statements made by or on behalf of the
Company: (a) the effect of technological changes; (b) increases in or
unexpected losses; (c) increased competition; (d) fluctuations in the
costs to operate the business; (e) uninsurable risks; and (f) general
economic conditions.
For Further Information, Please Contact:
Science
Dynamics Corporation, Cherry Hill, NJ.
Joy C. Hartman or Peggy Wargo
856/424-0068
ir@scidyn.com
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