Exhibit 99.1
TECHNOLOGY RESEARCH CORPORATION APPONTS
BARRY H. BLACK AS CHIEF FINANCIAL OFFICER
AND OFFERS THIRD QUARTER GUIDANCE
CLEARWATER, FLORIDA, January 3, 2006 - Robert S. Wiggins, Chairman, President and Chief
Executive Officer of Technology Research Corporation (TRC), (NASDAQ-TRCI), announced that
Barry H. Black has joined the Company as Vice President of Finance and Chief Financial Officer.
Mr. Wiggins said, “Barry Black brings significant financial expertise to the Company which is needed
as we continue to expand our markets and grow the business. We are pleased to have a person of
Barry’s caliber join the Company.” He added, “TRC expects to report a strong third fiscal quarter,
which ended December 31
, 2005, with earnings per share well above that of the same period last year.”
Mr. Black has a Bachelor of Arts in Economics, a Masters of Science in Accounting and a Masters of
Science in Taxation. He is a Certified Public Accountant in Florida, a member of the American Institute
of Certified Public Accountants and the Florida Institute of Certified Public Accountants. Most recently
he was Vice President and Corporate Controller of Paradyne Networks, Inc., a multinational
telecommunications company (Nasdaq). Prior to that he held a number of financial executive positions
with AT&T Paradyne. His professional background includes controllership, treasury and cash
management, corporate tax, SEC reporting, and mergers & acquisition activities. Barry also has
significant experience in international operations and in Sarbanes Oxley implementation.
Mr. Black replaces Scott Loucks, who was the Company’s previous Vice President of Finance and
Chief Financial Officer. Mr. Loucks, who has been with the Company for 20 years, will assume much
more of an operational role in his new position as Vice President of Financial Operations, reporting to
Mr. Black. Mr. Loucks will be responsible for establishing enhanced operational controls to manage
the Company’s Far East activity, including its contract manufacturers and suppliers. In addition, he
will concentrate his efforts on the Company’s internal audit function as well as Sarbanes Oxley related
matters.
Technology Research Corporation designs, manufactures and markets electrical safety products that
save lives, protect people from serious injury from electrical shock and prevent electrical fires in the
home and workplace. These products have worldwide application. The Company also supplies power
monitoring and control equipment to the United States Military and its prime
contractors.
“Safe Harbor” Statement: Certain statements made in this press release are forward looking in
nature and, accordingly, are subject to risks and uncertainties. The actual results may differ
materially from those described or contemplated.
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