DDi Corp. Completes Reverse Stock Split
February 06 2006 - 7:00AM
PR Newswire (US)
ANAHEIM, Calif., Feb. 6 /PRNewswire-FirstCall/ -- DDi Corp.
(NASDAQ:DDIC), a leading provider of technologically advanced
engineering and manufacturing services, today announced that its
previously announced 1-for-7 reverse stock split became effective
at the close of business on Friday, February 3, 2006. The reverse
split was approved by the Company's shareholders at a shareholder
meeting held on August 5, 2005 in connection with the shareholders
approval of DDi's $75 million rights offering, in which the Company
issued 100 million shares of common stock at $0.75 per share. The
reverse split is intended to broaden DDi's investor base and help
the company regain compliance with the Nasdaq National Market's
$1.00 minimum bid price listing requirement by increasing the share
price and decreasing the number of shares, warrants and options
outstanding. Mikel H. Williams, President and Chief Executive
Officer of the Company, stated, "The implementation of the reverse
stock split approved by our shareholders represents the final step
of the Company's recent rights offering. I would like to thank our
stockholders for their continued support of the Company throughout
this transaction." Shares of DDi's common stock will be listed on
the Nasdaq National Markets on a post-split basis on February 6,
2006, under the temporary trading symbol "DDICD" for approximately
20 trading days before reverting to "DDIC" on or about March 6,
2006. About DDi Corp. DDi is a leading provider of time-critical,
technologically advanced, electronics manufacturing services.
Headquartered in Anaheim, California, DDi and its subsidiaries
offer fabrication and assembly services to customers on a global
basis from its facilities located across North America. Except for
historical information contained in this release, statements in
this release may constitute forward-looking statements regarding
our assumptions, projections, expectations, targets, intentions or
beliefs about future events. Words or phrases such as
"anticipates," "believes," "estimates," "expects," "intends,"
"plans," "predicts," "projects," "targets," "will likely result,"
"will continue," "may," "could," "should" or similar expressions
identify forward-looking statements. Forward-looking statements
involve risks and uncertainties, which could cause actual results
or outcomes to differ materially from those expressed. We caution
that while we make such statements in good faith and we believe
such statements are based on reasonable assumptions, including
without limitation, management's examination of historical
operating trends, data contained in records, and other data
available from third parties, we cannot assure you that our
projections will be achieved. In addition to other factors and
matters discussed from time to time in our filings with the U.S.
Securities and Exchange Commission, or the SEC, some important
factors that could cause actual results or outcomes for DDi or our
subsidiaries to differ materially from those discussed in
forward-looking statements include: changes in general economic
conditions in the markets in which we may compete and fluctuations
in demand in the electronics industry; our ability to sustain
historical margins; increased competition; increased costs; loss or
retirement of key members of management; increases in our cost of
borrowings or unavailability of additional debt or equity capital
on terms considered reasonable by management; and adverse state,
federal or foreign legislation or regulation or adverse
determinations by regulators. Any forward-looking statement speaks
only as of the date on which such statement is made, and, except as
required by law, we undertake no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which such statement is made or to reflect the
occurrence of unanticipated events. New factors emerge from time to
time, and it is not possible for management to predict all such
factors. For Further Information: AT THE COMPANY: Mikel Williams
Chief Executive Officer (714) 688-7200 AT FINANCIAL RELATIONS
BOARD: Moira Conlon Investor/Analyst Information (310) 854-8311
Lasse Glassen General Information (310) 854-8313 DATASOURCE: DDi
Corp. CONTACT: Mikel Williams, Chief Executive Officer of DDi
Corp., +1-714-688-7200; or Moira Conlon, Investor/Analyst
Information, +1-310-854-8311, , or Lasse Glassen, General
Information, +1-310-854-8313, , both of Financial Relations Board,
for DDi Corp.
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