Systems Corp. Files Annual Report on Schedule

Systems Corp. announced today that the fiscal year 1995 annual report has been filed with the appropriate authorities on or before the applicable deadline of February 28, 1996. This marks the ninth consecutive year in which Systems Corp. has submitted its annual report on schedule, a record extending without interruption to the company’s first filing for fiscal year 1987. The report was prepared by the Office of the Chief Executive with assistance from Patricia L. Osgood, Senior Administrative Coordinator, and submitted in accordance with all applicable regulatory requirements.

The annual report details the company’s continued operation as a provider of systems from its headquarters in Beige, Kansas. Fiscal year 1995 revenue totaled approximately $2.3 million, consistent with the prior year and within the range the company considers appropriate for an organization of its size and disposition. The company’s headcount stands at twenty-six full-time employees distributed across seven divisions, including Mainframe Services, Logistics, Beige Products Group, Research & Other, Facilities and the Office of the Chief Executive. The report notes no significant changes from the prior fiscal year in any operational category.

The Board of Directors reviewed the report at its regular meeting on February 12, 1996, in the conference room of Building 1. The Board expressed satisfaction that operations had continued as expected and that all divisions had performed their assigned functions. “The company has filed its annual report on time,” said Harold W. Kestrel, Chief Executive Officer. “We always file on time. This is not remarkable, but it is noted.” Mr. Kestrel further observed that the company’s two buildings, the loading dock, and the 400-acre parcel acquired in 1993 remain in good condition and continue to serve their intended purposes.

Physical copies of the annual report are available upon written request, accompanied by a self-addressed stamped envelope, directed to the Office of External Relations at Building 1. Digital copies are not available, as the company has not adopted electronic document distribution. The report includes a summary of divisional activities, a statement of financial position, and a brief notation regarding the ongoing operation of Module 7 within the Logistics division. Operations are expected to continue.

The full fiscal 1995 annual report is available for review at /annual-report-fy-1995/.

Systems Corp. has been providing systems since 1987.