ModusLink Global Solutions, Inc. Announces Management Changes; Provides Preliminary Earnings Results for the Third Quarter Ending April 30, 2012
June 11, 2012 at 08:00 am
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ModusLink Global Solutions, Inc. announced the retirement of Joseph C. Lawler from his role as President and Chief Executive Officer of the company, effective immediately upon the appointment of a new chief executive officer. Mr. Lawler is stepping down from the Board of Directors, effective immediately. The company also announced the departure of William R. McLennan, president, global operations for ModusLink, effective immediately.
The company provided preliminary earnings results for the third quarter ending April 30, 2012. Revenue for the third quarter of fiscal 2012 is expected to be in the range of $175 million to $180 million, revenue from new programs is expected to be in the range of $20 million to $21 million, gross profit is expected to be in the range of $14.5 million to $15.5 million and the company expects to report cash, cash equivalents and marketable securities of approximately $78 million at April 30, 2012.
Steel Connect, Inc. is a holding company which operates through its subsidiary, ModusLink Corporation. The Company is an end-to-end global supply chain solutions and e-commerce provider serving clients in markets such as consumer electronics, communications, computing, medical devices, software and retail. The Company designs and executes various elements in its clients global supply chains. The Company delivers its solutions through a combination of industry expertise, service solutions, integrated operations, business processes, a wide global footprint and technology. It produces and licenses an entitlement management solution powered by its enterprise-class Poetic software, which offers a complete solution for activation, provisioning, entitlement subscription, and data collection from physical goods (connected products) and digital products. It has an integrated network of facilities located in various countries, including numerous sites throughout North America, Europe and Asia.
STEEL CONNECT, INC. 
