NASHUA , N.H. (July 21, 2008) – Ezenia! Inc. (OTCBB: EZEN.OB), a leading market provider of real-time collaboration solutions for corporate and government networks and eBusiness, announced that Mr. Kevin P. Hegarty has been reappointed by the Board of Directors as a Class I Director, effective as of the Board of Directors meeting on June 12, 2008. Mr. Hegarty served on the Board of Directors from May 2003 until November 2004.
Mr. Hegarty obtained a Bachelor’s Degree in Business Administration in Accounting and a Masters of Professional Accounting from the University of Texas at Austin . From October 2001 Mr. Hegarty has been the Vice President & Chief Financial Officer (CFO) at the University of Texas at Austin where he has been responsible for the financial integrity of the University and management of its financial operations. The annual operating budget is in excess of $2.0 billion.
Prior to his service at the University of Texas , Mr. Hegarty served two years as Vice President & Chief Financial Officer at Dell Financial Services. As CFO, Mr. Hegarty was responsible for all areas of finance, accounting, planning and budgeting and treasury, executing company capital strategies and managing joint venture partner relationships. Dell Financial Services is a $5.0 billion Dell joint venture with annual financing volume of $3.0 billion. Mr. Hegarty also served as Vice President & Corporate Controller at Dell Computer for over two years, responsible for all the accounting operations including policies and procedures, internal controls and SEC reporting.
Prior to his career at Dell, Mr. Hegarty served as Senior Vice President & Company Comptroller at Associates First Capital for seven years. Mr. Hegarty was responsible for the financial and accounting operations, SEC reporting and taxes.
Mr. Hegarty is a Certified Public Accountant in the state of Texas and a member of the American Institute of Certified Public Accountants. He is a Board Member of Entorian Technologies Inc. (NASDAQ: ENTN), the Greater Austin Chamber of Commerce, and the Texas Exes Alumni Association.
“As a member of Ezenia Board of Directors, Kevin’s background will provide valuable guidance as the company expands its presence in the Government and Commercial Sectors,” said Khoa Nguyen, Ezenia Chairman and Chief Executive Officer. I am excited about the prospect of Kevin providing Ezenia with the insight, experience, and wisdom to help the company navigate through ever increasingly complex financial regulations and achieve its growth objectives.”
Further information about Ezenia! Inc., is available by visiting the company website at www.ezenia.com.
About Ezenia! Inc.
Ezenia! Inc. (OTC Bulletin Board: EZEN.OB), founded in 1991, is a leading provider of real-time collaboration solutions, bringing new and valuable levels of interaction and collaboration to corporate networks and the Internet. By integrating voice, video and data collaboration, the Company’s award-winning products enable groups to interact through a natural meeting experience regardless of geographic distance. Ezenia! products allow dispersed groups to work together in real-time using powerful capabilities such as instant messaging, white boarding, screen sharing and text chat. The ability to discuss projects, share information and modify documents allows users to significantly improve team communication and accelerate the decision-making process. More information about Ezenia! Inc. and its product offerings can be found at the company’s Web site,www.Ezenia.com.
Note to Investors Regarding Forward-Looking Statements
Statements included herein that are not historical facts may be considered forward-looking statements. You can identify these forward-looking statements by use of the words “expects,” “anticipates,” “estimates,” “believes,” “projects,” “intends,” “plans,” “will,” “may,” and similar words. Such forward-looking statements, including statements regarding our business and financial outlook, long-term strategy, improvements in our infrastructure, and proposed earnings per share growth targets, involve risks and uncertainties that could cause actual operating results to differ materially from those indicated by such forward-looking statements. These risks and uncertainties include the considerations that are discussed in the Company’s 2007 Annual Report on Form 10-K as amended for the year ended December 31, 2007, such as its dependence on the United States government as its largest customer, adverse changes in available funding and discretionary spending within the Department of Defense, its dependence on other major customers, the evolution of Ezenia!’s market, rapid technological change and competition within the collaborative software market, its reliance on third-party technology, protection of its propriety technology, acceptance of IWS in the commercial market, retention of key employees, stock price volatility, customer acceptance of Version 3.0 of InfoWorkSpace, its history of liquidity concerns and operating losses, and other considerations that are discussed further in such report. You should not place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation to update forward-looking statements after the date of such statements.
Ezenia! is a registered trademark of Ezenia! Inc., and the Ezenia! Logo and InfoWorkSpace are trademarks of Ezenia! Inc. Additional information on Ezenia! and its products is available at our website http://www.ezenia.com.