Key Developments For EMS Technologies Inc
EMS Technologies Inc (ELMG.O) (Nasdaq)
EMS Technologies, Inc.'s Paul B. Domorski Resigns As President And Chief Executive Officer
EMS Technologies, Inc. announced that its Board of Directors and Paul B. Domorski have agreed that Mr. Domorski is leaving the position of President and Chief Executive Officer. In addition, Mr. Domorski is resigning as a member of the Board of Directors. Neilson A. Mackay, who has served as Executive Vice President and Chief Operating Officer during the past year, has been elected as President and Chief Executive Officer, and also as a member of the Board of Directors.
EMS Technologies, Inc. Initiates Additional Share Repurchases
EMS Technologies, Inc. announced that it is initiating share repurchases under its previously announced authorization to purchase shares costing up to an aggregate of $20 million, principally in transactions involving substantial blocks. Of this authorization, approximately $10 million has previously been expended. Specific repurchase decisions will be based on market prices and conditions at the time, and on continuing evaluation of alternative needs and opportunities for cash usage.
EMS Technologies, Inc. Issues FY 2009 EBITDA Outlook Below Analysts' Estimates-Conference Call
EMS Technologies, Inc. announced that for fiscal 2009, it expects to report consolidated adjusted EBITDA in the $31 to $34 million range. According to Reuters Estimates, analysts on an average were expecting the Company to report EBITDA of $43 million for the same period.
EMS Technologies, Inc. Issues Q4 2009 EPS Outlook Below Analysts' Estimates; Lowers FY 2009 EPS Outlook
EMS Technologies, Inc. announced that consolidated results for the fourth quarter of 2009 are likely to be profitable, but substantially less than the third quarter of 2009. As a result, fiscal 2009 earnings from continuing operations on a non-GAAP reporting basis that excludes acquisition-related items, are likely to fall in a range of $0.90 to $1.05 per share. The Company reported earnings per share (EPS) of $0.38 in the third quarter of 2009. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.48 for the fourth quarter of 2009; and EPS of $1.36 for fiscal 2009.
Lumexis Signs Agreement With EMS Technologies, Inc.'s EMS Formation For In-flight Entertainment Servers
EMS Technologies, Inc. announced at the World Airline Entertainment Association (WAEA) Conference and Exhibition that Lumexis Corporation has selected the Company's EMS Formation business unit to design and manufacture the optical video/application server for the Lumexis FTTS (Fiber-To-The-Screen) in-flight entertainment (IFE) system.
