Exhibit 99.1
NEWS RELEASE
Contact: Ray Link
Sr. Vice President-Finance
Tel: 407/884-3344
Fax: 407/886-7061
E-mail:[email protected]
For Immediate Release
SAWTEK ANNOUNCES THE APPOINTMENT OF
KIMON ANEMOGIANNIS AS PRESIDENT AND
CHIEF EXECUTIVE OFFICER
Orlando, Florida, November 14, 2000 --- Sawtek Inc. (Nasdaq: SAWS) announced
today the appointment of Kimon Anemogiannis as President and Chief Executive
Officer, effective immediately. Dr. Anemogiannis has been an officer of Sawtek
since 1998 and was named President and Chief Operating Officer in 1999. Gary A.
Monetti, who previously was Chief Executive Officer, stepped down today from the
CEO position and from the Board of Directors due to personal health reasons. Mr.
Monetti will remain as a Sawtek employee in an advisory role to Dr.
Anemogiannis.
Steven P. Miller, Chairman and co-founder of Sawtek, stated, "Kimon has
demonstrated the leadership and strategic vision to lead Sawtek into the future.
His unique combination of technical skills and business acumen provides Sawtek
with the talent and experience necessary for our growth and success. The
promotion of Kimon is part of our succession plan that we embarked upon several
years ago that has been accelerated due to Gary's decision to step down. We are
confident in Kimon's abilities, and we are delighted to have him as our
President and Chief Executive Officer. Today we are saddened that Gary stepped
down as CEO. However, we are pleased that he will stay on in a continued role as
an advisor to Kimon and to the Company."
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About Kimon Anemogiannis (Ki-mon An-e-mo-giann-is -- |ke`mon ana,mo|`yan es)
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Kimon Anemogiannis, age 38, joined Sawtek in 1995 as Director of Engineering
and was promoted to Vice President-Engineering in 1998, Vice President and Chief
Operating Officer in 1999, and President and Chief Operating Officer effective
October 1999. Prior to joining Sawtek, Kimon was in various engineering
positions for the surface acoustic wave (SAW) group at Siemens Matsushita, a SAW
component manufacturer, based in Munich, Germany, from 1986 to 1995. Kimon has
an M.S. Degree and Ph.D. Degree in Electrical Engineering from the Technical
University of Munich, and he is fluent in English, German and Greek. He is a
world-renowned expert in SAW technology and has advanced numerous technical
innovations to both the design and manufacturing of SAW devices.
At Sawtek, Kimon was the driving force behind the Company's strategy to become a
high-volume, low-cost manufacturer of a broad range of SAW-based products. Among
these products are RF and IF filters for both CDMA and GSM digital wireless
phones, which accounted for approximately 34% of Sawtek's revenue for the year
ended September 30, 2000.
Conference Call Information - Open to the Public
------------------------------------------------
We will be hosting a conference call with the public tomorrow morning, November
15, at 8:15 a.m. EST. The public will have the opportunity to listen to the
conference call over the Internet, without charge, or by dialing a toll number.
Below is the information you will need:
Internet Access: Sawtek at http://www.sawtek.com. Go to the "Investor" section
and then click on "Live Audio of the Call".
Vcall at http://www.vcall.com. To listen to the live call, please go to the Web
site at least 15 minutes early to register, download, and install any necessary
audio software. For those who cannot listen to the live broadcast, a replay will
be available shortly after the call through Vcall, without charge, for
approximately 30 days.
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Telephone Access:
The toll dial-in number is (712) 257-3641. If you are calling from out of the
United States, you must dial "011" before the number. The password is "Sawtek"
and the conference leader will be Ray Link, Sawtek's Chief Financial Officer.
After the conference call, a replay number will be available for you to listen
to the recorded call by dialing (402) 998-1233. No password is required. Please
note that long distance charges will apply. This number will be active from
10:00 a.m. EST November 15 through 5:00 p.m. EST November 17, 2000.
About Sawtek
------------
Sawtek designs, develops, manufactures and markets a broad range of electronic
signal processing components based on surface acoustic wave, or SAW, technology
primarily for use in the wireless communications industry. Our primary products
are custom-designed, high performance bandpass filters, resonators, oscillators
and SAW-based subsystems. These products are used in a variety of microwave and
RF systems, such as CDMA and GSM digital wireless communications systems,
digital microwave radios, wireless local area networks, cable television
equipment, Internet infrastructure, various defense and satellite systems, and
sensors. You can access more information about Sawtek by visiting our Web site
at www.sawtek.com.
Comments on Forward-Looking Statements
--------------------------------------
The forward-looking statements in this release are made pursuant to the Safe
Harbor provisions of the Private Securities Litigation Act of 1995. Investors
are cautioned that forward-looking statements such as statements of the
Company's plans, objectives, expectations and intentions involve risks and
uncertainties. The cautionary statements made in this release should be read as
being applicable to all related statements wherever they appear. Statements
containing terms such as "believes", "does not believe", "no reason to believe",
"expects", "plans", "projects", "intends", "estimates", "anticipates", or
similar terms, are considered to contain uncertainty and are forward-looking
statements. The Company's actual results could differ materially from those
discussed. Factors that could contribute to such differences include the
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following: a decline in either the growth of wireless communications or the
acceptance of CDMA technology; our ability to successfully develop and bring new
products to market, particularly RF filters; our ability to successfully
increase production capacity; competitive products or technologies that could
reduce demand for our products such as direct conversion or digital filtering
technology; our dependence on a limited number of suppliers for certain key raw
materials; risks associated with international sales; our dependence on a few
large customers; increased sales through consignment agreements; declining
selling prices for some of our key products; decreased manufacturing yields;
cancellation of purchase orders by our customers; our inability to protect our
intellectual property or if we infringe on the intellectual property of others;
increased competition from other SAW suppliers; risks associated with our Costa
Rican operations; risk of natural disasters; and other risks discussed in our
SEC filings including Form 10K for the year ended September 30, 2000, which can
be accessed at the SEC web site, www.sec.gov.
A reader of this release should understand that it is not possible to predict or
identify all such risk factors. Consequently, the reader should not consider
this list to be a complete statement of all potential risks or uncertainties. We
do not assume the obligation to update any forward-looking statement.
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