| Bitstream Appoints New CFO
CAMBRIDGE, MA — March 31, 2003 — Bitstream Inc. (NASDAQ: BITS) today announced that Jim Dore has been promoted to Vice President and Chief Financial Officer. Jim joined Bitstream in June of 1999 as Corporate Controller and has been working closely with Anna Chagnon, who in addition to being the Company's President and Chief Operating Officer had been its CFO since August of 1998. Ms. Chagnon will continue as the Company's President and Chief Operating Officer. Mr. Dore has over 20 years of finance and operations leadership experience. Prior to joining Bitstream, Jim was the Controller and then Chief Financial Officer, Treasurer, and Secretary of Celerity Solutions, Inc., a supply chain management software developer. Prior to joining Celerity, Jim held several financial management positions including Chief Financial Officer, Treasurer, and Secretary for Pro-cut International, Inc., and its affiliates for six years. Jim holds a B.S. degree in Accounting from Clarkson University and a CPA certificate from Illinois, where he worked for Fox and Company CPA's at the beginning of his career. "With over 20 years of finance and accounting experience, Jim brings a wealth of knowledge to the team, along with a strong understanding of the Company's businesses," said Anna M. Chagnon, President and Chief Operating Officer of Bitstream Inc. "Jim has been a trusted member of the management team at Bitstream since his arrival in 1999. His promotion will allow me to focus my attention on my duties as President and COO, including increasing revenue and improving the Company's bottom line. " About Bitstream Inc. MyFonts.com Pageflex Pageflex software is used for a wide variety of applications, including on-demand marketing materials, stationery and business cards, advertising, catalogs, and personalized digital printing. Pageflex products are distributed through original equipment manufacturers (OEMs), value added resellers (VARs), application service providers (ASPs), and system integrators. The Pageflex worldwide customer base includes manufacturers, service providers, advertising agencies, commercial printers, graphic design houses, and application service providers (ASPs). Users of Pageflex products include Xerox, IBM, Ford, EFI, Coldwell Banker, Wunderman, Mail-Well, httprint, and Spire. This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations. Actual performance and results of operations may differ materially from those projected or suggested in the forward-looking statements due to certain risks and uncertainties, including, without limitation, market acceptance of the Company's products, competition and the timely introduction of new products. Additional information concerning certain risks and uncertainties that would cause actual results to differ materially from those projected or suggested in the forward-looking statements is contained in the Company's filings with the Securities and Exchange Commission, including Bitstream's Annual Report on Form 10-K for the year ended December 31, 2001.
Contact Anna Chagnon |