SOURCE: Hathaway Corporation

August 30, 2005 11:35 ET

Hathaway Corporation's Wholly Owned Subsidiary OptiCon Systems, Inc., Finishes Initial Evaluation of Software

Unit to Grow Revenues to Over $403 Million in 60 Months

ST. PETERSBURG, FL -- (MARKET WIRE) -- August 30, 2005 -- Hathaway Corporation (OTC: HWYI), a leading global provider of communications and telecommunications software, today announced the completion of the initial evaluation of the fiber optic management software recently acquired though the purchase of OptiCon Systems.

Hathaway Corporation new President, John Batton states, "We have started our initial evaluation of OptiCon Systems OSS Fiber Management System and will begin an in-depth analysis in the coming days. We will begin our sales activity in the MSO (Cable) and IOC (Incumbent Operating Company) markets with the completion of our final evaluation. OptiCon has traditionally been a major presence in MSO's and with the advent of the 'triple play' (voice, data and video) and requirement of 99.999% VoIP (Internet Telephone) availability, we can play a larger role in meeting the needs of our clients. Similarly, the IOC marketplace is entering into the fiber arena and will have new management requirements for their fiber networks." Mr. Batton goes on to further state, "Our excitement over the customer list has grown tremendously. Not only do we have multiple cable and telecom companies that we will target, but also some very large city and international clients that will become major OptiCon management System clients."

About Hathaway Corporation

Hathaway Corporation develops and acquires undervalued companies that bring a shift in how communications is delivered and serviced globally. Starting with OptiCon Systems, which is used by global 500 companies, Hathaway will continue to seek out and capitalize on emerging technologies that will change the way the world communicates. Hathaway brings the communications solutions of the future to today's business marketplace.

To request further information about Hathaway, please email us at investors@hathawayglobal.com.

About OptiCon Systems Inc.

OptiCon Systems was initially developed by Corning and sold to their customers throughout the U.S. Corning spent millions of dollars and over seven years developing the Fiber Optic Management System currently used by OptiCon and run on over 70% of the major telecoms and cable companies here in the United States. Current clients include Adelphia, Charter, Comcast, Comcast/AT&T, Cox, Time Warner, and BrightHouse.

Market Opportunity

The OSS software marketplace reached $11.1 billion worldwide in 2003 and is expected to grow to $16.2 billion worldwide by 2007. North America enjoys 60% of the marketplace at $6.6 billion. With its current position as the market leader, OptiCon will have an opportunity to capture most of the forecasted market size.

Forward-Looking Statements

This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.

Contact Information

  • Contact:
    Hathaway Corporation, St. Petersburg, Florida
    Sam Talari
    817-812-2107
    727-417-9338
    Email Contact