|
Zoom® Receives Additional Payment for Intermute
Boston, MA, September 18, 2006
— Zoom Technologies, Inc. (NASDAQ: ZOOM) today announced
that on September 11, 2006 Zoom received a payment of $869,750,
representing its portion of an earnout payment paid by Trend
Micro as a result of the achievement of a performance milestone
in connection with Trend Micro’s purchase of InterMute.
If a second milestone is reached, Zoom would also be entitled
to receive up to approximately the same amount in additional
funds. Zoom also anticipates receiving up to $372,750 held
in escrow in connection with the purchase plus accrued interest
by the end of 2006.
In 2005 Trend Micro purchased InterMute, and at that time
Zoom received $3.5 million for its share of the purchase.
The $869,750 payment received in September 2006 increases
Zoom’s cash and equity by $869,750. The other potential
payments are valued at zero on Zoom’s June 30, 2006
balance sheet.
For more information about the Zoom iHiFi products, please
see: http://www.zoomtel.com/products/ihifi.html
About Zoom Technologies
Zoom Technologies, Inc. designs, produces, and supports
Bluetooth products, Voice over IP telephone adapters and gateways,
ADSL modems, wireless networking products, cable modems, dial-up
modems, and other communications products under the Zoom and
Hayes brands. For more information about Zoom and its products,
please see www.zoomtel.com.
Forward Looking Statements
This release contains forward-looking information relating to
Zoom’s beliefs and expectations, including statements
about the size and timing of potential future payments to Zoom
by Trend Micro. These beliefs and expectations are subject to
risks and uncertainties, both known and unknown, which could
cause actual results to be materially different from those expected
including, without limitation, the risk that performance milestones
may not be met, the risk that amounts held in escrow may not
be received, and other risks set forth in Zoom’s filings
with the Securities and Exchange Commission, including Zoom’s
annual report on Form 10-K and quarterly reports on Form 10-Q.
Zoom cautions readers not to place undue reliance upon any such
forward-looking statements, which are subject to uncertainty
and which speak only as of the date made. Zoom expressly disclaims
any obligation or undertaking to release publicly any updates
or revisions to any such statements to reflect any change in
Zoom’s expectations or any change in events, conditions
or circumstance on which any such statement is based. |
