This excerpt taken from the IRF DEFA14A filed Oct 10, 2008.
IRF strategic plan is already working:
· The IRF Board believes that the strategic roadmap to be implemented by the management team will deliver greater value to the IRF shareholders than Vishays inadequate offer.
· The management team has already made significant progress in executing the strategic roadmap, including an aggressive program of channel inventory rationalization and approximately $30 million of annualized cost of goods sold improvements.
· IRF has reaffirmed its first quarter of fiscal year 2009 revenue guidance at the high end of the 7% to 9% sequential growth range.