NVE Corporation Adds Sales Representatives
EDEN PRAIRIE, Minn.February 6, 2002NVE Corporation (OTCBB: NVEC)
today announced that it recently signed agreements with seven
U.S. manufacturers' representatives to market NVE's award-winning
data couplers. The new representatives will dramatically broaden
the company's sales coverage.
The new representatives are:
- Cahill, Schmitz and Cahill, Inc., covering the Upper Midwest;
- TEQ Sales, covering the Central Midwest;
- Millennium Technical Sales, covering the Eastern Great Lakes States;
- Interep Associates, covering the Southeastern United States;
- QXI, Inc., covering Florida;
- Quad State Sales, covering the Southwestern United States; and
- Tritek Sales, covering the Mid-Atlantic.
"We are pleased to have attracted the interest of
some of the most productive electronic component representatives
in the country," commented John Myers, vice president of NVE's Isolator
Business Unit. "The agreements are the result of the efforts of
Anthony Leali, our new National Sales Manager. Combined with our
existing representatives and our previously announced agreement
for Digi-Key Corporation to stock and distribute our components,
we are building a first-rate distribution network."
"Adding manufacturers' representatives is a key step
in our strategy of bringing NVE's revolutionary products to a broad
market," added NVE President and Chief Executive Officer Daniel A. Baker, Ph.D. "These representatives will be evangelists for our
Coupler Business Unit's mission of replacing opto-electronics in
high-speed data transfer applications."
NVE announced its revolutionary IsoLoop® family
of digital couplers in early 2001. IsoLoops have a data rate of
up to 100 megabaud, five times faster than the fastest opto-electronic
devices. The IsoLoop family includes single and multi-channel products,
and is ideally suited for industrial data bus, analog to digital
conversion and telecommunications. NVE estimates the coupler market
is approximately $1.8 billion per year.
NVE is a recognized leader in the practical commercialization
of "spintronics," which many experts believe represents the next
generation of microelectronics. NVE's products include magnetic
sensors and couplers which revolutionize data acquisition and transfer.
Statements made in this release concerning the Company's or
management's intentions, expectations, or predictions about future
results or events are "forward-looking statements" within the meaning
of the Private Securities Reform Act of 1995. Such statements are
necessarily subject to risks and uncertainties that could cause
actual results to vary from stated expectations, and such variations
could be material and adverse. Additional information concerning
the factors that could cause actual results to differ materially
from the Company's current expectations is contained in the Company's
SEC filings. |