SOURCE: Network Equipment Technologies

Network Equipment Technologies

April 22, 2010 16:31 ET

Network Equipment Technologies Promotes David Wagenseller to Chief Financial Officer

FREMONT, CA--(Marketwire - April 22, 2010) -  Network Equipment Technologies, Inc. ("NET") (NASDAQ: NWK) announced today that David Wagenseller has been promoted to Chief Financial Officer of the company. Mr. Wagenseller has been the company's acting Chief Financial Officer since November 10, 2009.

Mr. Wagenseller joined NET in 1986 through its acquisition of ComDesign, Inc. and has held positions of increasing responsibility throughout his tenure, including responsibility for controllership, treasury and financial planning. He has been a vice president of the company since November 2005.

"Through more than two decades of service, David has shown his dedication to NET," said C. Nicholas Keating, Jr., President and CEO of NET. "Over the past several months, as acting Chief Financial Officer, he has provided effective stewardship of the company's finances and demonstrated his leadership of our finance department. Additionally, in his role as acting Chief Financial Officer, he has successfully overseen the closing of our financial records for two fiscal quarters and our recently completed fiscal year 2010. I am pleased that he has accepted the role of Chief Financial Officer."

About Network Equipment Technologies:
Network Equipment Technologies, Inc. (NET) delivers high performance networking equipment, optimized for enabling software-powered, real-time communications. Today, the company's solutions are focused on enabling customers to cost-effectively migrate to next-generation IP networks, unified communications platforms, secure voice applications, and high-speed multiservice WAN transport networks. NET's worldwide customer base includes both government entities and enterprise customers in North America, Europe, Latin America, the Middle East, and Asia. Founded in 1983, NET is headquartered in Fremont, CA and has 14 offices worldwide including the US, the UK, France, the Middle East, China, Japan, Australia, and Latin America. The company sells its solutions through a direct sales force and an international network of resellers and distributors. For more information, visit www.net.com.

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