Forgent Comments on Patent Trial Results
AUSTIN, TX, May 22, 2007 (MARKET WIRE via COMTEX News Network) -- Forgent Networks, Inc. (NASDAQ: FORG) announced that on May 21, 2007, a jury for the U.S. District Court of Eastern Texas ruled in favor of EchoStar Communications Corp. in Forgent Networks' patent infringement suit for U.S. Patent No. 6,285,746 (the "'746 Patent").
Commented Richard Snyder, Chairman and Chief Executive Officer of Forgent Networks, "While we appreciate the efforts of the jury in this complicated matter, we disagree with their ruling. We continue to believe in the validity of the '746 Patent and are currently assessing our options. Looking forward, we believe that our fast growing NetSimplicity software business can be a strong foundation for our future. In addition, we have a very healthy balance sheet with a strong cash position and no debt."
Forgent Networks, Inc. (NASDAQ: FORG) develops and licenses intellectual property and provides scheduling and asset management software to a wide variety of organizations. Forgent's intellectual property licensing program is related to communication technologies developed from its patent portfolio. Forgent's software division, NetSimplicity, develops software that simplifies day-to-day office administration tasks. The products are specifically designed for the management and scheduling of rooms, equipment, assets and resources. For additional information please visit www.forgent.com.
This release may include projections and other forward-looking statements that involve a number of risks and uncertainties, and actual results in future periods may differ materially from those currently expected. Some of the factors that could cause actual results to differ materially include changes in the general economy or in our industry, rapid changes in technology; sales cycle and product implementations; risks associated with transitioning to a new business model and the subsequent limited operating history; the possibility of new entrants into our software markets, the possibility that the market for the sale of certain software and services may not develop as expected; or that development of these software and services may not proceed as planned; the risks associated with the company's license program, and including risks of litigation involving intellectual property, patents and trademarks. Additional discussion of these and other risk factors affecting the company's business and prospects is contained in the company's periodic filings with the SEC.
SOURCE: Forgent Networks