CHATSWORTH, Calif., Nov. 21, 2003 (PRIMEZONE) -- International Remote Imaging Systems, Inc. (AMEX:IRI), a manufacturer and marketer of automated IVD urinalysis systems and medical devices for hospitals and clinical laboratories worldwide, today announced the appointment of John Yi as Vice President of Operations -- Iris Diagnostics Division.
"At a time when we are ramping up our manufacturing facilities following the launch of our new iQ(r)200 product platform, John Yi brings to the Company extensive experience in all aspects of operations and manufacturing," stated Cesar Garcia, the Company's President and Chief Executive Officer. "John has a world-class manufacturing background with special expertise in streamlining and improving manufacturing efficiencies. He will be a valuable asset as IRIS continues to round out its management team with top quality executives."
Before joining IRIS, Mr. Yi served as Vice President of Operations for Xylan, now Alcatel Corporation (NYSE:ALA). Based at divisional headquarters in Calabasas, Calif., Mr. Yi instituted a global supply chain and manufacturing strategies for the telecommunications firm. While at Xylan, Mr. Yi trimmed material costs by 37%, reduced the remanufacturing cycle time by 40% and integrated two acquisitions into the system. From March 1995 to October 1997, Mr. Yi was Vice President of Operations for Micropolis Corp., based in Chatsworth, a $300 million high-performance hard disc manufacturer. Mr. Yi oversaw a $27 million annual budget, brought high-cost commodities under control and reorganized material, manufacturing and program management operations.
From December 1983 to March 1995, Mr. Yi held various executive positions at Seagate Technology in Scotts Valley, Calif., a $4 billion hard disc manufacturing company. In his last position at Seagate, Mr. Yi served as Director of Program Management and successfully launched seven new product programs.
Mr. Yi holds a BA in Business Administration/Accounting from California State University in Hayward.
THE COMPANY
International Remote Imaging Systems, Inc. is a leader in automated urinalysis technology and image flow cytometry. The Company's Iris Diagnostics Division is a leader in automated urinalysis technology with workstations in major medical institutions throughout the world. Using a patented Automated Intelligent Microscopy (AIM) technology, the Auto-Analyte Recognition software (AAR) and more recently, the neural network-based Auto-Particle Recognition (APR) technology, a significant reduction in the cost and time consuming steps for manual microscopic analysis can be achieved. The StatSpin(r) subsidiary, based in Norwood, Mass., is a worldwide leader in accelerated sample preparation for blood, body fluids and urine analysis. The subsidiary makes innovative centrifuges and blood analysis products, including the world's fastest blood separator (30 seconds). StatSpin's worldwide markets include medical institutions, commercial laboratories, clinics, doctors' offices, veterinary labs and research facilities. Its bench top centrifuges are dedicated to applications for manual specimen preparation for coagulation, cytology, hematology, and urinalysis. Advanced Digital Imaging Research, LLC (ADIR), is a research and development subsidiary based in the Houston, Texas area. ADIR assists in the advancement of proprietary imaging technology while conducting government-sponsored research and development in medical imaging and software, and contract research for corporate clients.
SAFE HARBOR PROVISION
This news release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company's views on future commercial revenues, market growth, capital requirements, new product introductions, and are generally identified by phrases such as "thinks," "anticipates," "believes," "estimates," "expects," "intends," "plans," and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry, competition and capital requirements. Other factors and uncertainties that could affect the Company's forward-looking statements include, among other things, the following: unexpected technical and marketing difficulties inherent in major product development efforts such as the current project to improve the Company's urinalysis workstation product line; the potential need for changes in long-term strategy in response to future developments; future advances in diagnostic testing methods and procedures, as well as potential changes in government regulations and healthcare policies, both of which could adversely affect the economics of the diagnostic testing procedures automated by the Company's products; rapid technological change in the microelectronics and software industries; and increasing competition from imaging and non-imaging based in-vitro diagnostic products. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors that may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements.