EXHIBIT 99.1
CONTACTS:
Kenneth A. Paladino, COO and CFO Van Negris / Lexi Terrero
TII Network Technologies, Inc. Van Negris & Company, Inc.
(631) 789-5000 (212) 396-0606
FOR IMMEDIATE RELEASE:
TII Network Technologies Names
Kenneth A. Paladino, CFO, as Chief Operating Officer
COPIAGUE, NY - December 10, 2004 - TII Network Technologies, Inc. (Nasdaq:
TIII), a leading provider of telecommunications network protection and
management products, is pleased to announce that Kenneth A. Paladino, has been
named Chief Operating Officer, in addition to his position as Chief Financial
Officer. The announcement was made by Timothy J. Roach, President and Chief
Executive Officer.
Mr. Roach stated: "In addition to his superb financial management expertise, Ken
has brought outstanding business management and leadership skills to TII and has
made a significant contribution in the successful turn-around of TII that we
have achieved through fiscal 2004 and which continues into fiscal 2005. He has a
solid record of accomplishment and shares TII's vision and strategic direction
which includes our commitment to providing the highest-quality products, with
cost-effective performance and innovative features that meet articulated market
needs. He will be working closely with me and with the rest of our management
team to help our company achieve long-term, sustainable profitability and
growth."
Mr. Paladino, 47, has been Chief Financial Officer of TII Network Technologies,
Inc. since 2000. Previously, he was Chief Financial Officer, Vice President of
Finance and Treasurer of EDO Corporation, Controller of LNR Communications, Inc.
and a Senior Auditor with KPMG Peat Marwick. He holds a Bachelor of Science
Degree in Accounting from Villanova University and is a Certified Public
Accountant.
Mr. Paladino commented: "Our strategy in 2005 is to focus on gaining business
and market share through our diversification efforts which are focused on the
broadband market, home networking and fiber optic products.
I am pleased to be working with Tim to help TII reach its full potential."
About TII Network Technologies, Inc.
TII is a proven technology leader specializing in providing the communications
industry with innovative network protection and management products, including
station protectors, network interface devices, DSL protectors, filters and
splitters, power and data-line and home networking protectors and a
multi-service residential gateway, as well as creative, custom design solutions
to meet customers' individual requirements.
Statements in this release that are not strictly historical are
"forward-looking" statements and should be considered as subject to the risks
and uncertainties that exist in the Company's operations and business
environment. These factors include, but are not limited to: dependence on, and
ability to retain "as-ordered" general supply agreements with its top three
customers and win new contracts; the ability of the Company to market and sell
products to new markets beyond its principal market - the copper-based Telco
market; the Company's ability to timely develop products and adapt its existing
products to address technological changes, including changes in its principal
market, Telco; exposure to increases in the cost of the Company's products,
including increases in the cost of the Company's petroleum based plastic
products; the Company's dependence for products and product components on
Pacific Rim contract manufacturers, including on-time delivery, quality and
exposure to changes in the cost in the event of changes in the valuation of the
Chinese Yuan; the Company's dependence upon one of its principal contract
manufacturers that is an affiliate of a
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principal customer and competitor; the potential for the disruption of shipments
as a result of, among other things, third party labor disputes, political unrest
in or shipping disruptions from countries in which the Company's contract
manufacturers produce the Company's products; weather and similar conditions,
particularly the effect of hurricanes or typhoons on the Company's
manufacturing, assembly and warehouse facilities in Puerto Rico or the Pacific
Rim, respectively; competition in the Company's traditional telecommunications
market and new markets the Company is seeking to penetrate; potential changes in
customers spending and purchasing policies and practices; general economic and
business conditions, especially as they pertain to the telecommunications
industry; dependence on third parties for product development; risks inherent in
new product development and sales, such as start-up delays and uncertainty of
customer acceptance; the Company's ability to attract and retain technologically
qualified personnel; the Company's ability to fulfill its growth strategies; the
level of inventories maintained by the Company's customers; the ability to
maintain listing of its Common Stock on the Nasdaq SmallCap market; the
availability of financing on satisfactory terms and other factors from time to
time discussed in the Company's SEC reports.
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