Synergx Systems Inc. (Nasdaq Small Cap: SYNX) Announces Sale of Dallas Business

SYOSSET, N.Y., June 1  /PRNewswire-FirstCall/ -- Synergx Systems Inc. has sold its Dallas, Texas life safety business. The sale proceeds, together with collection of accounts receivables is expected to generate approximately $1 million.

Chairman and CEO Daniel Tamkin commented, "This transaction will allow us to focus our people and other resources on our core New York City metropolitan market where we are expanding our product line and distribution channels. Our subsidiaries in Texas and New York share virtually no operating overhead, therefore additional sales in New York will over-absorb fixed overhead and should generate far greater profitability than we enjoy in Texas. Redeploying these funds and our Management team's efforts into our principal New York subsidiary in a variety of ways; ranging from hiring additional sales and marketing personnel to developing product enhancements, should result in greater stockholder value."

"Safe Harbor" statement under the Private Securities Reform Act of 1995: This release contains forward-looking statements, which reflect management's current views of future events and  operations.  These forward-looking statements are based on assumptions and external factors, including assumptions relating to product pricing, competitive market conditions, financial data, and other risks or uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release and any changes in the assumptions of external factors could produce significantly different results. 

DATASOURCE: Synergx Systems Inc.



CONTACT:  John Poserina, Chief Financial Officer of Synergx Systems Inc.,

[phone] 

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