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DATE:March 4, 1999
FROM:
Winland Electronics, Inc.
1950 Excel Drive
Mankato, Minnesota 56001
CONTACT:
W. Kirk Hankins, Chairman and CEO
(507) 625-7231
FOR IMMEDIATE RELEASE
WINLAND ELECTRONICS SELECTED
AS FINALIST FOR 1999 MINNESOTA TECHNOLOGY AWARD
MANKATO, Minn., March 4, 1999:
- Winland Electronics, Inc. (Nasdaq: WLET) has been
notified of its nomination for the Minnesota Technology Awards
1999 Technology Company of Minnesota. Winland is one of three
nominees in the Technology Company category. Additional awards
categories include Technology Leader, Technology Innovation,
and Best Use of the Internet or E-Commerce.
The Third Annual Minnesota Technology Awards
is sponsored by Minnesota Technology, Inc., together with
Medtronic, Honeywell, McGladrey & Pullen, and Minnesota Technology
magazine. The awards program recognizes small to medium-sized
and emerging companies that have demonstrated a dedication
and commitment to the future of technology within their communities
and throughout the world. These awards honor technology companies
and individuals that have demonstrated the kind of accomplishments
that are necessary to be a world-class leader, company, or
innovator. Awards will be presented at the Minnesota Technology
Awards Banquet on April 29, 1999. More information can be
obtained by visiting the Minnesota Technology, Inc. website
at http://www.minnesotatechnology.org.
W. Kirk Hankins, Winlands Chairman and CEO,
stated, Winlands selection as a finalist for the 1999 Technology
Company of Minnesota Award is an extraordinary honor, given
our states history of distinction in technological achievement,
as well as the number and high quality of contenders for the
award. We are very pleased, to say the least.
In September 1998, Winland Electronics was
named to Deloitte & Touche's Minnesota Fast 50, a ranking
of the state's 50 fastest-growing technology companies based
on the non-compounded percentage of growth in revenues from
1993-1997. In November 1998, the company was also selected
by IW Growing Companies, the leading management magazine for
small to mid-sized manufacturers, to be in the inaugural class
of the IW Growing Companies 25, America's Most Successful
Small Manufacturers.
Winland recently reported record-level sales
and earnings for the year ended December 31, 1998. Sales increased
47 percent to $18,175,509, from $12,382,878 in 1997, and net
income increased 51 percent, to $855,595, from $566,687 in
1997. Winland Electronics, based in Mankato, Minn., designs
and manufactures custom electronic control products and systems,
as well as proprietary products for the security/industrial
marketplace. The companys stock is traded on the Nasdaq Small
Cap Market under the symbol WLET. |