Chief Financial Officer and Offers Third Quarter Guidance
CLEARWATER, Fla.--(BUSINESS WIRE)--Jan. 3, 2006
Robert S. Wiggins, Chairman, President and Chief
Executive Officer of Technology Research Corporation (TRC),
(NASDAQ:TRCI), announced that Barry H. Black has joined the Company as
Vice President of Finance and Chief Financial Officer.
Mr. Wiggins said, "Barry Black brings significant financial
expertise to the Company which is needed as we continue to expand our
markets and grow the business. We are pleased to have a person of
Barry's caliber join the Company." He added, "TRC expects to report a
strong third fiscal quarter, which ended December 31, 2005, with
earnings per share well above that of the same period last year."
Mr. Black has a Bachelor of Arts in Economics, a Masters of
Science in Accounting and a Masters of Science in Taxation. He is a
Certified Public Accountant in Florida, a member of the American
Institute of Certified Public Accountants and the Florida Institute of
Certified Public Accountants. Most recently he was Vice President and
Corporate Controller of Paradyne Networks, Inc., a multinational
telecommunications company (Nasdaq). Prior to that he held a number of
financial executive positions with AT&T Paradyne. His professional
background includes controllership, treasury and cash management,
corporate tax, SEC reporting, and mergers & acquisition activities.
Barry also has significant experience in international operations and
in Sarbanes Oxley implementation.
Mr. Black replaces Scott Loucks, who was the Company's previous
Vice President of Finance and Chief Financial Officer. Mr. Loucks, who
has been with the Company for 20 years, will assume much more of an
operational role in his new position as Vice President of Financial
Operations, reporting to Mr. Black. Mr. Loucks will be responsible for
establishing enhanced operational controls to manage the Company's Far
East activity, including its contract manufacturers and suppliers. In
addition, he will concentrate his efforts on the Company's internal
audit function as well as Sarbanes Oxley related matters.
Technology Research Corporation designs, manufactures and markets
electrical safety products that save lives, protect people from
serious injury from electrical shock and prevent electrical fires in
the home and workplace. These products have worldwide application. The
Company also supplies power monitoring and control equipment to the
United States Military and its prime contractors.
"Safe Harbor" Statement: Certain statements made in this press
release are forward looking in nature and, accordingly, are subject to
risks and uncertainties. The actual results may differ materially from
those described or contemplated.
Technology Research Corporation, Clearwater
Scott Loucks, 727-535-0572
Web Page: http://www.trci.net
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