FREMONT, Calif., May 10, 2017 (GLOBE NEWSWIRE) -- Digital Power Corporation (NYSE MKT:DPW) ("Digital Power" or the "Company"), a growth company seeking to increase revenues through acquisitions and organic growth, today announced they are presenting at the 7th Annual LD Micro Invitational being held June 6-7, 2017 in Los Angeles, CA. The LD Micro conference will open on the evening of June 5th with speakers and panels, and continuing through the next two days.
“We are looking forward to presenting the DPW story to new and familiar institutional and individual investors. It is time for DPW to communicate with the street and those who will readily appreciate our acquisition growth strategy,” said Milton “Todd” Ault, III, the Company’s Executive Chairman. Ault continued, “From our change in direction late last year to our recent transaction to acquire control of Microphase Corporation and executing this year the first part of the 3-year $50M order from MTIX, we have a story of intent and purpose to tell. We are pleased with the recent report by Zacks Research and their understanding that the Company is focused on trading short-term profitability for growing topline revenue, cash and scale. We look forward to the new interest we will generate over the coming days.” The Company announced that it will issue the morning of June 7 both a 8-K report and press release disclosing their presentation and other information that will be shared at the conference and will follow-up the conference with a progress report.
As previously disclosed, for the remainder of 2017, the Company is pursuing an increase in revenues by seeking to attract new customers and implementing an aggressive acquisition strategy to build upon its anticipated organic growth. This anticipated revenue increase reflects management’s and the Board’s commitment to an aggressive growth strategy through acquisitions adopted pending the change in control completed in September 2016. In implementing this strategy, the Company has hired a number of additional personnel and consultants to assist in identifying, analyzing, negotiating and acquiring potential companies. The Company will need to raise a substantial amount of capital for acquisitions and to support its infrastructure. As a result of its projected growth, its anticipated net income may not match its growth in gross revenues and we may continue to experience losses through 2017 and 2018 until these acquisitions have been integrated into our operations or until our cost reduction and efficiency changes have been implemented.
About Digital Power
Headquartered in Fremont, CA, Digital Power Corporation designs, manufactures and sells high-grade customized and off-the-shelf power system solutions. Our products are used in the most demanding communications, industrial, medical and military applications where customers demand high density, high efficiency and ruggedized power solutions. The Company’s wholly owned subsidiary, Digital Power Limited which does business as Gresham Power Electronics, is based in Salisbury, UK. Digital Power's headquarters is located at 48430 Lakeview Blvd., Fremont, California, 94538; 1-877-634-0982. Website: www.digipwr.com.
For Investor Relations inquiries: IR@digipwr.com or 1-888-753-2235.
Forward Looking Statements
The foregoing press release contains “forward looking statements” regarding future events or results within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking statements include, but are not limited to, that the conditions to the closing of the Share Exchange Agreement being met and that the Company’s shareholders approval approve the conversion of the Series D and E convertible preferred stock and that the Company will meet the NYSE MKT’s continued listing standard by June 19, 2017. The Company disclaims any current intention to update its “forward looking statements,” and the estimates and assumptions within them, at any time or for any reason. More information about potential risk factors that could affect the Company’s business and financial results are included in the Company’s most recent filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available on the Company’s website at www.digipwr.com.
Source:Digital Power Corporation