ATLANTA, Feb. 13 /PRNewswire/ --
eOn Communications Corporation (Nasdaq: EONC), a leading provider of
unified voice, e-mail and Web-based communications systems and software, today
announced changes to its senior management team, the restructuring of
operations and product lines to improve profitability, and measures to focus
operating resources on its Linux(TM)-based communications systems and software
Troy E. Lynch, the Company's executive vice president and chief technology
officer, has been promoted to chief operating officer. As COO, Lynch will
oversee the Company's sales and marketing, product development, and customer
support operations reporting to David S. Lee, chairman and chief executive
officer. Lynch joined eOn in February 1999 as vice president and chief
technology officer. He came to eOn from Hayes Corporation, where he was vice
president of research and development. His senior management career also
includes experience with other developing communications and high-tech
companies such as Access Beyond and Penril Communications.
"Troy Lynch possesses the vision, energy and leadership qualities to
transform eOn into a more significant player in the fast-growing
communications industry," said Lee. "Troy's promotion not only recognizes his
contributions and leadership during his tenure with the Company, but also
confirms our confidence in his ability to drive the programs needed to improve
the Company's overall operations and build the business."
eOn also announced the appointment of Lanny N. Lambert as vice president
and chief financial officer. Lambert joined the Company in October 2000 as
chief accounting officer. His previous experience in the communications
industry includes service as vice president of finance and administration and
CFO of CMC Industries, Inc.; vice president of finance and administration and
CFO of the Corinth Telecommunications Corporation subsidiary of Alcatel n.v.;
and various financial and administrative positions with ITT. Lambert succeeds
Stephen N. Samp, who has resigned to pursue other interests.
"Lanny Lambert is a seasoned financial officer who understands our
industry and our company," said Lee. "He is well acquainted with the
financial and operational imperatives of the communications business. Lanny
is a strong addition to our senior management team."
The Company also announced the resignation of Robert R. Cash as vice
president and chief marketing officer. A search is currently underway to hire
Other actions taken in connection with the restructuring of the Company's
operations include work force reductions of approximately twenty percent, the
discontinuation of sales of most third-party products in both the domestic and
the Caribbean/Latin American markets, and the relocation and concentration of
management and certain other strategic functions to the 'Company's
headquarters in Atlanta, Georgia.
"We have made significant progress in restructuring our business," said
Lee. "The elimination of certain third-party products from the Company's
market offering enables us to further reduce operating expenses, focus
marketing and development resources primarily on our advanced Linux(TM)-based
communications systems and software, and concentrate on profitable segments of
our Millennium(R) business.
"This restructuring and other organizational changes are designed to make
eOn a much stronger and more effective competitor, resulting in revenue
enhancements and cost savings that will accelerate the Company's return to
profitability. We will focus on profitability and earnings growth by
specifically targeting our higher gross margin products and by aggressively
reducing expenses," concluded Lee.
eOn will recognize restructuring and other related charges in its
financial results for the second fiscal quarter ended January 31, 2001. The
Company plans to announce complete second quarter financial results Tuesday,
February 27th, 2001, after market close. Following the announcement, eOn
Communications Corporation will host a conference call to provide additional
information regarding second quarter results and the restructuring of the
Conference Call Arrangements:
The eOn Communications Corporation second quarter conference call will be
held at 4:45 p.m. Eastern Standard Time on Tuesday, February 27, 2001.
Shareholders and other interested parties are invited to dial 913 981-5518
beginning at 4:30 p.m. EST. The operator will request a confirmation code,
which is 705064.
The live call will also be available through a link on the Company's Web
site home page at www.eoncc.com. Internet users are requested to participate
through the Web site if possible so that phone lines will be readily available
to those without Web access. Please log on 30 minutes in advance to download
and install audio software if necessary.
A replay of the call will be posted to the investor information section of
the eOn Web site shortly following the call. A recording will also be
available no later than noon on February 28 by direct dial at 901 462-1010.
About eOn Communications Corporation:
eOn Communications Corporation (http://www.eoncc.com ) designs, develops
and markets next-generation communications systems, adjunct servers and
software that integrate and manage voice, e-mail and Internet communications
for customer contact centers and general business applications. eOn
Communications Corporation helps enterprises communicate more effectively with
customers, convert inquiries into sales, and increase customer satisfaction
Note: This press release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve risks and uncertainties, including
technical and competitive factors, which could cause the Company's results and
the timing of certain events to differ materially from those discussed in the
forward-looking statements. Such risks are detailed in eOn Communications
Corporation's most recent Form 10-Q filing with the Securities and Exchange
SOURCE eOn Communications Corporation