Somera Communications (NASDAQ:SMRA)
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Somera Appoints Kent Coker as Chief Financial Officer
DALLAS, March 3 /PRNewswire-FirstCall/ -- Somera Communications, Inc.
(NASDAQ:SMRA), a global provider of telecom equipment lifecycle management
services, today announced that Kent Coker will join the company as Senior Vice
President and Chief Financial Officer. Coker will assume the position in mid-
to late-March, 2005 and will be located at the company's headquarters near
Dallas, Texas.
"Kent brings an excellent complement of skills to Somera and will be an
integral member of our executive team," said David W. Heard, Somera's President
and Chief Executive Officer. "His background in process improvement and
success in driving cost efficiencies and compliance will be valuable assets to
our organization as we work to further improve our balance sheet, strengthen
our internal processes, grow our business and return to profitability.
Additionally, Kent has a wealth of industry knowledge and proven abilities in
managing global businesses, which are key strengths that Somera will require as
we continue our future growth."
"Based on my extensive financial background and long history of operations in
telecommunications, I believe the value proposition that Somera delivers is
extremely viable in helping carriers attain a superior return on assets and an
increase in their cash flow," added Coker. "Providing carriers with a strategy
to lower the cost of legacy networks and deliver capital and operating savings
is extremely compelling in today's business climate. I am very excited to have
this opportunity to contribute to establishing Somera's leadership position in
Lifecycle Management Services and working with the strong management team the
company has built."
Previously, Coker was employed by Chorum Technologies, a provider of fiber
optic equipment for the telecommunications industry. He joined Chorum in 1999
as Chief Financial Officer and subsequently added the role of Chief Operating
Officer before being selected to lead the company as Chief Executive Officer
and Member of the Board of Directors. Before Chorum, Coker was at Compaq
Computers, where he held the position of Vice President of Finance of the
telecommunications solutions group. Prior to Compaq, he served in several
senior financial roles at DSC Communications, including Vice President of
Finance of the Access Products Group and Chief Financial Officer of DSC's
European division based in Copenhagen, Denmark. Coker began his career at
Ernst & Young as a Certified Public Accountant and holds both a B.B.A. and an
M.S. in Accounting from Texas Tech University.
About Somera Communications
Somera provides equipment Lifecycle Management Services to support carriers'
need to more effectively manage the assets of their aging networks at the
lowest cost and greatest return through the sourcing, servicing, and
liquidation of telecommunications equipment. The Company's services are
comprised of Equipment Brokerage, Somera RecoveryPLUS(TM), Somera RepairPLUS,
and Somera LifecyclePLUS. Founded in 1995, Somera has worked with over 1,100
customers worldwide, including the industry leaders from each segment of the
telecommunications market. Visit Somera on the web at http://www.somera.com/.
This news release contains forward-looking statements as that term is defined
in Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, including those regarding
Somera's ability to execute on its Lifecycle Management Services strategy,
improve its balance sheet, strengthen its internal processes, grow its business
and return to profitability. Forward-looking statements involve a number of
risks and uncertainties including, but not limited to, general economic
conditions particularly affecting the telecommunications industry; capital
equipment spending levels in the telecommunications industry, including the
risk of continued customer spending delays associated with carrier
consolidation; the impact of competition in the market for supplying equipment
to telecommunications operators; the risk of potential shortage of product
supply; Somera's ability to reduce operating expenses and breakeven revenue
amounts; risks regarding the company's ability to expand domestic and
international operations and build lifecycle management services capabilities;
and other factors fully described in the company's reports to the Securities
and Exchange Commission (SEC), including but not limited to, the Annual Report
on Form 10-K for the fiscal year ended December, 31, 2003, and Quarterly
Reports on Form 10-Q. Actual results may differ materially from the statements
contained in this new release. The company does not undertake to update any
forward-looking statements that may be made by or on behalf of the company.
Copies of Somera's SEC filings may be obtained by contacting Investor
Relations, Somera Communications, at 1-805-681-3322.
DATASOURCE: Somera Communications, Inc.
CONTACT: Kelly Delany of Somera Communications, Inc., +1-805-861-3322,
Web site: http://www.somera.com/