News Release
Anicom Announces Change to Fiscal Year End
ROSEMONT, Illinois, June 28 -- Anicom, Inc. (Nasdaq: ANIC), a leading
North American distributor of Internet infrastructure products and multimedia
technology, today announced that its Board of Directors approved a change in the
Company's fiscal year end from December 31 to June 30. The change, effective
July 1, 2000, creates a six-month transitional year, which started January 1,
2000 and will end June 30, 2000.
Anicom's President and CEO, Carl Putnam, said, "This step will allow
Anicom to align its fiscal year with the normal trends of our business. We
believe it is in the Company's best interest to begin the fiscal year with the
Company's traditionally strongest quarter (July 1 - September 30). We believe
this fiscal year will provide a more logical and accurate presentation of the
Company's operations and finances."
Anicom also announced today that Lee B. Stern has resigned from its
Board of Directors. Stern, 73, a director of Anicom, Inc. since 1994, and
President of LBS Limited Partnership, said, "I wish to congratulate the Anixter
family for having the foresight and ability to successfully build a new company
in such a highly competitive field."
Stern added, "I am confident that under the leadership of Anicom's new
chairman, Tom Reiman, the Company's future is in the right hands. I feel it is
very important that Tom should have the freedom to select Board members whose
term will correspond to his tenure as the new Chairman."
Commenting on the announcement, Tom Reiman stated, "I would like to
thank Lee Stern for his experience and many contributions over the years to
Anicom. Since joining the Board in 1997, I've enjoyed working closely with Lee.
We now plan to actively search for another highly qualified person to join the
Board. Hopefully that selection will be made by the end of this calendar year."
Anicom, Inc. (Nasdaq: ANIC) is a distribution specialist of multimedia
technology throughout North America. Headquartered in Rosemont, Illinois, Anicom
provides products that "interconnect the Internet" for the digital
infrastructure build out in the ever-growing communications marketplace.
In compliance with the Safe Harbor Provision of the Private Securities
Litigation Reform Act of 1995, the company notes the statements contained in
this press release that are not historical facts may be forward-looking
statements that are subject to a variety of risks and uncertainties more fully
described in Anicom's filings with the Securities and Exchange Commission
including, without limitation, those described under "Factors That Could Affect
Our Operations" in Anicom's Annual Report on Form 10-K for the year ended
December 31, 1999. Anicom wishes to caution readers of this press release that
these risks and uncertainties could cause Anicom's actual results in 2000 and
beyond to differ materially from those expressed in any forward-looking
statements made by, or on behalf of, Anicom. These risks and uncertainties
include, without limitation, general economic and business conditions affecting
the industries of Anicom's customers in existing and new geographical markets,
competition from national and regional distributors, the availability of
sufficient capital, Anicom's ability to timely implement its centralized
distribution centers, the timing of customer projects, Anicom's ability to
identify the right product mix and to maintain sufficient inventory to meet
customer demand and Anicom's ability to operate effectively in geographical
areas in which it has no prior experience. The words "will," "believe," "plan"
and words of similar effect used in this press release as they relate to Anicom
or its management are generally intended to identify such forward-looking
statements.
