EXHIBIT 99.1
FOR IMMEDIATE RELEASE:
Contact: Karl B. Gemperli
(913) 647-0158, Phone
(913) 647-0132, Fax
investorrelations@elecsyscorp.com
ELECSYS CORPORATION ANNOUNCES ELECTION OF NEW CHAIRMAN AND APPOINTMENT OF A NEW
DIRECTOR
Lenexa, Kansas (July 23, 2004) - Elecsys Corporation (AMEX: ASY), today
announced that Robert D. Taylor was elected as the Company's new Chairman of the
Board of Directors and Stan Gegen, President of Coordinated Systems & Supplies,
Inc., was appointed to the Company's Board of Directors. Mr. Gegen will fulfill
the term of David J. Schulte, who resigned from the Company's Board of Directors
on June 2, 2004. Mr. Taylor succeeds as Chairman, Michael J. Meyer, who will
remain as a director of the Company.
Mr. Taylor has been a director of the Company since 1994 and is
currently President and Chief Executive Officer of Executive AirShare
Corporation, which charters, sells and operates fractional corporate jet and
turboprop aircraft from its locations in Wichita, Kansas and Kansas City,
Missouri. Mr. Taylor also owns and is President of Taylor Financial, a
consulting and investment firm. Mr. Taylor currently serves on the Board of
Commercial Federal Corporation (NYSE: CFB), is a trustee of the University of
Kansas Endowment Fund and is a member of the Advisory Board for the University
of Kansas School of Business.
Mr. Gegen is President of Coordinated Systems & Supplies, Inc., a
printing and distribution company with a nationwide customer based located in
Wichita, Kansas. Mr. Gegen has over 30 years of financial and business
leadership experience in manufacturing, banking, retail and investment
companies. Mr. Gegen began his career as a Certified Public Accountant for Ernst
& Young (formerly known as Arthur Young & Co.) in Wichita, Kansas and has
subsequently held financial leadership positions with both private and public
companies.
Elecsys Corporation, through its wholly owned subsidiary DCI, Inc., is
a designer, manufacturer, and integrator of custom electronic interface
solutions for original equipment manufacturers ("OEMs") in the medical,
aerospace, communications and industrial product industries. The Company has
unique capabilities to design and efficiently manufacture custom electronic
assemblies which integrate a variety of interface technologies such as custom
liquid crystal displays, light emitting diode displays, and keypads with circuit
boards and other
electronic components. The Company becomes an extension of the
OEM's organization by providing key expertise that enables rapid development and
manufacture of electronic products from product conception through volume
production. For more information, visit our websites at www.elecsyscorp.com and
www.dciincorporated.com.
Safe-Harbor statement: The discussions set forth in this press release may
contain forward-looking comments based on current expectations that involve a
number of risks and uncertainties. Actual results could differ materially from
those projected or suggested in the forward-looking comments. The difference
could be caused by a number of factors, including, but not limited to the
factors and conditions that are described in Elecsys Corporation's SEC filings,
including the Form 10-KSB for the year ended April 30, 2003. The reader is
cautioned that Elecsys Corporation does not have a policy of updating or
revising forward-looking statements and thus he or she should not assume that
silence by management of Elecsys Corporation over time means that actual events
are bearing out as estimated in such forward-looking statements.
