Exhibit 99.2
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PRESS RELEASE
Neoware Appoints Keith Schneck Executive Vice President and CFO
KING OF PRUSSIA, Pa., April 29, 2003 -- Neoware Systems, Inc. (Nasdaq:
NWRE), the leading supplier of award-winning software, services, and managed
thin client appliances, today announced that it has appointed Keith Schneck as
Executive Vice President and Chief Financial Officer.
Mr. Schneck joins Neoware with over 25 years of senior financial and
executive management expertise in high growth technology companies and public
accounting. Mr. Schneck has held positions as President and Chief Financial
Officer for AM Communications and as Chief Operating Officer and Chief Financial
Officer of Integrated Circuit Systems. He most recently served as Chief
Financial Officer of T-Networks, a venture capital-funded start up company that
provides next generation fiber optical components and sub-systems to the
telecommunications market. Mr. Schneck is a CPA with over 10 years of public
accounting experience with KPMG. During his career, Mr. Schneck has been
responsible for a variety of financial and general management functions,
including investor relations, finance, operations, acquisitions and integration
of acquired operations. In his position as Executive Vice President and Chief
Financial Officer for Neoware, Mr. Schneck will be responsible for corporate
development, investor relations, financial reporting and financial operations
for Neoware.
"As Neoware continues to grow, it's critical that we attract the best
possible talent to our team, as we believe that our success is the direct result
of the dedication and efforts of our people," commented Michael Kantrowitz,
Neoware's Chairman and CEO. "Keith brings us significant operational experience
in acquisitions and the integration of businesses, as well as in finance, and we
look forward to his contributions to the Company."
Vince Dolan, Neoware's current Vice President of Finance, will continue
in his existing role as Vice President of Finance for approximately six months
to assist in the transition, after which he intends to leave the Company to
pursue consulting opportunities.
"The Board and I have enjoyed working with Vince and appreciate his
professionalism and dedication. His contributions to the Company through a
period of rapid growth were considerable, and we wish him the best in his future
endeavors.
"I am very excited to join Neoware, and believe that I can add
significant value to the Company," commented Keith Schneck, Neoware's new
Executive Vice President and Chief Financial Officer. "With a leadership
position in a strong and growing market, superior products and significant
financial resources, I believe that Neoware is poised to build on its strong
record of success."
About Neoware
Neoware provides software, services, and solutions to enable Appliance
Computing, a proven Internet-based computing architecture targeted at business
customers, that is designed to be simpler and easier than traditional PC-based
computing. Neoware's software and management tools power and manage a new
generation of smart computing appliances that utilize the benefits of open,
industry-standard technologies to create new alternatives to personal computers
used in business and a wide variety of proprietary business devices.
Neoware's products are designed to run local applications for specific
vertical markets, plus allow access across a network to multi-user Windows
servers, Linux servers, mainframes, minicomputers, and the Internet. Computing
appliances that run and are managed by Neoware's software offer the cost
benefits of industry-standard hardware and software, easier installation, and
have lower up-front, maintenance, and administrative costs than proprietary or
PC-based alternatives.
More information about Neoware can be found on the Web at
www.neoware.com or via email at invest@neoware.com. Neoware is based in King of
Prussia, PA.
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This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, including
statements regarding: our CFO's contributions to our company; the strong and
growing market for Appliance Computing; Neoware's future success; our position
as the leading supplier of software, products, services and solutions for the
Appliance Computing market; the benefits of our business model; and our
competitive advantage. These forward-looking statements involve risks and
uncertainties. Factors that could cause actual results to differ materially from
those predicted in any such forward-looking statement include our ability to
continue to lower our costs, our timely development and customers' acceptance of
our Appliance Computing products, including acceptance by IBM and NCD customers,
NCD's creditworthiness as a distributor of our products in Europe, pricing
pressures, rapid technological changes in the industry, growth of the Appliance
Computing market, increased competition, our ability to attract and retain
qualified personnel, our ability to identify and successfully consummate future
acquisitions; adverse changes in customer order patterns, adverse changes in
general economic conditions in the U.S. and internationally, risks associated
with foreign operations and political and economic uncertainties associated with
current world events. These and other risks are detailed from time to time in
Neoware's periodic reports filed with the Securities and Exchange Commission,
including, but not limited to, its report on Form 10-K for its fiscal year ended
June 30, 2002 and Form 10-Q for the quarter ended December 31, 2002.
Neoware is a registered trademark of Neoware Systems, Inc. All other names
products and services are trademarks or registered trademarks of their
respective holders.
CONTACT:
Michael Kantrowitz, Chairman and CEO
Neoware Systems, Inc.
610-277-8300
invest@neoware.com