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Paragon Technologies Appoints New CFO

Freitag, 15.06.2012 16:05 von PR Newswire

PR Newswire

EASTON, Pa., June 15, 2012 /PRNewswire/ -- Paragon Technologies, Inc. (OTC Pink: PGNT), a leading supplier of "smart" material handling systems and "software-driven" warehouse and distribution center solutions, today announced the appointment of James D. Floyd as Interim CFO, effective Tuesday, June 12, 2012.

Commenting on the announcement, Chairman of the Board, Sham Gad, stated, "On behalf of the Board of Directors, we would like to thank Mr. Semanick for his many years of service to the Company."  Mr. Gad further stated, "We welcome and are excited to have Mr. Floyd join the Company.  Mr. Floyd brings a depth of talent and expertise that we believe will be of enormous benefit to Paragon at this important stage in its future growth efforts."

James D. Floyd

James D. Floyd, age 46, is an accounting and financial professional with over 25 years of experience in both publicly traded and privately held companies.  Prior to joining the Company, Mr. Floyd held positions as Chief Financial Officer, Corporate Controller, Vice President of Accounting, and various other senior accounting positions.  Most recently, Mr. Floyd served as Project Manager/PMO for SanDisk Inc.'s (Nasdaq: SNDK) Enterprise Growth Global Outsourcing Project.  Mr. Floyd is the Founder of CFO Outsourcing Solutions, Inc., a professional services firm providing senior level accounting and financial services to privately held companies up to Fortune 500 companies across the globe.  Mr. Floyd is a Certified Public Accountant (inactive) in Pennsylvania and is a member of the Pennsylvania Institute of CPA (PICPA) and the American Institute of Certified Public Accountants (AICPA).  Mr. Floyd has a Bachelor's Degree from the University of California.

About Paragon Technologies

Paragon Technologies, Inc. through its operating subsidiary, SI Systems, Inc., is a leader in integrating material handling systems and creating automated solutions for material flow applications.  SI Systems' branded technologies and material handling solutions address unit assembly in manufacturing operations and order fulfillment applications.  One of the top material handling systems suppliers worldwide, SI Systems' leading clients have included the United States Postal Service, BMG, Peterbilt, Honda, and Maybelline.

Cautionary Statement.  Certain statements contained herein are not based on historical fact and are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities and Exchange Commission rules, regulations and releases.  Paragon intends that such forward-looking statements be subject to the safe harbors created hereby.  Among other things, the forward-looking statements regard Paragon's earnings, liquidity, financial condition, review of strategic alternatives, and other matters.  Words or phrases denoting the anticipated results of future events, such as "anticipate," "does not anticipate," "should help to," "believe," "estimate," "is positioned," "expects," "may," "will," "is expected," "should," "continue," and similar expressions that denote uncertainty, are intended to identify such forward-looking statements.  Paragon's actual results, performance, or achievements could differ materially from the results expressed in, or implied by, such "forward-looking statements":  (1) as a result of factors over which Paragon has no control, including the strength of domestic and foreign economies, sales growth, competition, and certain cost increases; and (2) if the factors on which Paragon's conclusions are based do not conform to its expectations.  The forward-looking statements contained in this press release may become outdated over time.  Paragon does not assume any responsibility for updating any forward-looking statements.  Furthermore, achievement of the objectives of the Company is subject to certain risks, including, but not limited to, those risks outlined in Paragon's filings with the OTC Markets Group, including its annual report for the fiscal year ended December 31, 2011, and the most recent quarterly report for the period ended March 31, 2012 as filed with the OTC Markets Group.

This press release and prior releases are available at www.ptgamex.com.

SOURCE Paragon Technologies, Inc.

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