Symmetricom Announces David Côté as New President and Chief Executive Officer
July 27 2009 - 8:00AM
Business Wire
Symmetricom, Inc. (NASDAQ: SYMM), a worldwide leader in precise
time and frequency technologies that accelerate the deployment and
enable the management of next generation networks, today announced
that David Côté has been named president and chief executive
officer, effective August 3, 2009.
“We are delighted to welcome Dave as Symmetricom’s new chief
executive officer,” said Robert Clarkson, chairman of the board of
Symmetricom. “His solid record as a visionary and a results-driven
leader, demonstrated most recently by five years of record revenue
and earnings growth at Packeteer, is a perfect match for
Symmetricom. We believe Dave’s experience will be a tremendous
asset in driving our current growth initiatives in the evolving
wireless, cable and specialized defense communications markets and
in the identification and pursuit of promising new
opportunities.”
Mr. Côté has 25 years of executive leadership in growth-oriented
technology companies. He served as CEO and president of Packeteer,
a publicly-traded communications company specializing in WAN
optimization, from 2002 to June 2008 when it merged with Blue Coat.
From 1997 to 2002, Mr. Côté was General Manager and Senior Vice
President, Worldwide Marketing for IDT, where he founded and grew a
major new division and executed a successful repositioning of the
company. Previously, he held marketing leadership positions at
ZeitNet (sold to Cabletron) and earlier at SynOptics (Nortel
Networks), where he was a key contributor to the company’s
accelerated growth. Prior to that, Mr. Côté spent ten years at
Apple Computer in a number of marketing roles.
“I am excited to be joining Symmetricom at this time,” said
Côté. “The company’s strong financial and market position, backed
by its world-renowned timing technologies and expertise, offers a
stable yet dynamic and opportunity-rich environment, which is an
ideal combination for success. The company’s aggressive efforts to
reduce its cost structure and enhance its business model over the
last year provide a solid foundation to achieve profitable growth
and a larger global footprint over the coming years.”
About Symmetricom, Inc.
As a worldwide leader in precise time and frequency products and
services, Symmetricom provides “Perfect Timing” to customers around
the world. Since 1985, the company’s solutions have helped define
the world’s time and frequency standards, delivering precision,
reliability and efficiency to wireline and wireless networks,
instrumentation and testing applications and network time
management. Deployed in more than 90 countries, the company’s
synchronization solutions include primary reference sources,
building integrated timing supplies (BITS), GPS timing receivers,
time and frequency distribution systems, network time servers and
ruggedized oscillators. Symmetricom also incorporates technologies
including Universal Timing Interface (UTI), Network Time Protocol
(NTP), IEEE 1588 (Precision Time Protocol), and others supporting
the world’s migration to Next Generation Networks (NGN).
Symmetricom’s QoE video quality management solutions provide the
tools necessary to accurately monitor and analyze video quality and
bring higher satisfaction levels to the end user. Symmetricom is
based in San Jose, Calif., with offices worldwide. For more
information, visit http://www.symmetricom.com.
Safe Harbor
This press release contains forward-looking information within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and is subject to the safe harbor created by those
sections. These forward-looking statements include statements
concerning Symmetricom’s future business and profitability.
Symmetricom's actual results could differ materially from those
estimated in these forward-looking statements. Factors that could
cause actual results to differ materially from the results
projected in or suggested by such forward-looking statements
include: reduced rates of demand for telecommunication products,
cable products or test and measurement products, our customers'
ability and need to upgrade existing equipment, our ability to
reduce manufacturing and operating costs, timing of orders,
cancellation or delay of customer orders, loss of customers,
customer acceptance of new products, recessionary pressures,
geopolitical risks such as terrorist acts and the risk factors
listed from time to time in Symmetricom's reports filed with the
Securities and Exchange Commission, including the annual report on
Form 10-K for the fiscal year ended June 29, 2008 and subsequent
reports on Forms 10-Q and Forms 8-K. Any and all forward-looking
statements we make may turn out to be wrong. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made.
SYMM-G
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