SANTA CLARA, Calif., June 14 /PRNewswire-FirstCall/ --
First Virtual Communications, Inc. (Nasdaq: FVCX), or the Company, a leading
provider of rich media Web conferencing and collaboration solutions for IP and
other networks, today announced the results of the stockholder votes for the
four proposals under consideration at the Company's Annual Meeting of
Stockholders, held earlier today. The Company's stockholders approved the
proposal to elect Adam Stettner and Robert W. Wilmot as directors of the
Company to serve until the 2005 annual meeting. In addition, the Company's
stockholders approved their amendments to the Company's 1997 Non-Employee
Directors' Stock Option Plan and the appointment of PricewaterhouseCoopers LLP
as independent auditors for the fiscal year ending December 31, 2002. The
Company's stockholders did not approve the series of amendments to the
Company's Amended and Restated Certificate of Incorporation that would have
enabled the Company to effect a reverse stock split of the Company's Common
stock.
A full tally of the votes will be published in the Company's quarterly
report on Form 10-Q for the quarter ended June 30, 2002. The results can be
obtained before the filing of such quarterly report on Form 10-Q that date
from Timothy Rogers, Chief Financial Officer of the Company.
About First Virtual Communications
First Virtual Communications is a world leader in providing Web
conferencing and collaboration solutions to enterprises, telecommunications
service providers and government agencies. By enabling interactive voice,
video, chat and data collaboration over IP, ISDN and ATM networks, First
Virtual Communications provides cost-effective, integrated end-to-end
solutions for large-scale deployments to enterprise desktops. The Company's
flagship product, Click to Meet(TM), provides a complete framework for
delivering a new generation of video-enabled Web collaboration applications
that address the real-time communications needs of companies worldwide. Click
to Meet(TM) can be integrated seamlessly into popular messaging and
collaboration environments such as MSN Messenger and Microsoft
Exchange/Outlook. First Virtual Communications serves its customers through a
worldwide network of resellers and partners. Additional information about
First Virtual Communications can be found on the Web at http://www.fvc.com.
Cautionary Statement
Except for the historical information contained herein, this news release
contains forward-looking statements, including, without limitation, statements
containing the words, "believes," "anticipates," "expects" and words of
similar import. Such forward-looking statements have known and unknown risks,
uncertainties and other factors that may cause the actual results, performance
or achievements of First Virtual Communications, or industry results, to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include,
among others: the continued increase in sales of the Company's Click to
Meet(TM) and MCU products, First Virtual Communications' limited operating
history as a combined company with CUseeMe Networks, its variability of
operating results, First Virtual Communications' broadband video services
offering, market acceptance of video technology, potential inability to
maintain business relationships with telecommunications carriers, distributors
and suppliers, rapid technological changes, competition and consolidation in
the video networking industry, the importance of attracting and retaining
personnel, and other risk factors referenced in First Virtual Communications'
public filings with the Securities and Exchange Commission, including the
Company's report on Form 10-K/A for the year ended December 31, 2001.
NOTE: All trademarks are recognized.
SOURCE First Virtual Communications, Inc.
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Related links:
http://www.fvc.com
CONTACT:
Timothy A. Rogers, Chief Financial Officer of
First Virtual Communications, Inc., +1-408-567-7200, or
trogers@fvc.com
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