News Release
Horne International Names Evan Auld-Susott Director of Acquisitions
Fairfax, VA February 7, 2008 Horne International, Inc. (OTCBB: HNIN), announced today that Evan Auld-Susott has been appointed Director of Acquisitions. In this newly created role, he will be responsible for identifying, assessing and recommending strategic and tactical opportunities that support Horne International’s long-term growth as a premier provider of engineering services for a sustainable infrastructure.
“I believe Horne International is attractively positioned to implement an effective acquisition strategy,” Mr. Auld-Susott said. “The company currently has no senior debt and a substantial net operating loss carry-forward, which I expect will provide great flexibility in addressing acquisition opportunities. Furthermore, we expect that our acquisition of Amata, Inc., will lead to more attractive acquisition financing opportunities when it is completed.”
“Horne International has many intriguing opportunities to boost the top and bottom lines,” Mr. Auld-Susott added. “We are looking at strategic and synergistic acquisitions that will enhance our ability to provide sustainable solutions for our customers and sustainable growth in value for our shareholders.”
“Horne International is poised for continuing organic and inorganic growth, and I am pleased that Evan Auld-Susott has taken on this key role,” said Horne International Chairman, President and CEO Darryl K. Horne. “The executive team looks forward to elaborating on our growth strategy in upcoming communications with our shareholders.”
An experienced investment advisor, Mr. Auld-Susott has been a member of Horne International’s Board of Directors since June 2007.
About Horne International, Inc.
Horne International provides engineering services for a sustainable infrastructure, with an emphasis on security, energy, and the environment. Horne International operates through three business units: Horne Engineering Services, LLC; Spectrum Sciences & Software, Inc.; and Coast Engine and Equipment Company, Inc. The company is a trusted partner for its customers in the defense, environment and energy, homeland security and transportation sectors. For more information, please visit www.horne.com.
Forward-Looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including the ability of the company to identify and complete acquisitions, the availability of acquisition financing for any acquisition the company may undertake on terms acceptable to the company, or at all, risks relating to the integration of any acquisition the company may make, risks related to the company's contemplated acquisition of Amata, Inc, including risks related to the fulfillment of the closing conditions to such acquisition and the related financing transaction, and other risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.