Contact Information: Clearfield, Inc. Contact Information: Cheri Beranek Podzimek Chief Executive Officer Investor-Relations@clfd.net 763-476-6866
APA Enterprises/APA Cables & Networks Announce Business Structure and Name Change
| Source: Clearfield, Inc.
MINNEAPOLIS, MN--(Marketwire - January 2, 2008) - APA Enterprises (NASDAQ : APAT ) today
announced that it is combining its business operations with the business
operations of its wholly owned subsidiary, APA Cables & Networks, and will
subsequently be changing its name to Clearfield, Inc. The new business
structure eliminates administrative redundancies, streamlines management
functions and clarifies the operational focus of the organization. The
company will continue to be traded on Nasdaq, with the CLFD symbol (NASDAQ : CLFD ).
The change in business structure and change in company name is to provide a
better understanding of what the company offers to telecommunications
service providers and the original equipment manufacturers that look to the
company for fiber management and passive connectivity expertise.
"We wanted our company name to better reflect the creative, problem-solving
orientation of our engineering and sales staff," explains Cheri Beranek
Podzimek, president and CEO of Clearfield, Inc. "Clearfield illustrates our
commitment to designing innovative passivity connectivity solutions that
not only meet the unique network configuration and density requirements of
our customers, but also capture their imaginations. We will continue to be
creative and original in our approach but remain fully grounded --
delivering products that are both practical and
craft-friendly."
Forward-looking statements contained herein are made pursuant to the safe
harbor provisions of the Private Litigation Reform Act of 1995. These
statements are based upon the Company's current expectations and judgments
about future developments in the Company's business. Certain important
factors could have a material impact on the Company's performance,
including, without limitation, delays in or increased costs of production,
delays in or lower than anticipated sales of the Company's new products,
the Company's ability to sell such products at a profitable price, the
Company's ability to fund operations, and other factors discussed from time
to time in the Company's filings with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on
forward-looking statements. The Company undertakes no obligation to update
such statements to reflect actual events.