Gateway names Dave Russell new director |
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Mon, 26 Feb 2007 22:51
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IRVINE, Calif. (AP) - Computer maker Gateway Inc. said Friday it named Dave Russell, executive vice president and managing director of Avalon Energy, to its board, which now has 10 members.Gateway also said its 2006 net income was $9.6 million, or 3 cents per share, and not $6.9 million, or 2 cents per share, as reported on Feb. 8. The company said the increase is from the 'disposition of certain tax matters' from its European operations before 2002.Russell, 43, is the executive vice president of Avalon Capital Group Inc. the parent of Avalon Energy. Avalon Capital is a private company controlled by Ted Waitt, the co-founder and a major stockholder of Gateway.Gateway said it appointed Russell to the board as part of a previously announced agreement with an investor group led by Firebrand Partners. The company had agreed to name another director 'mutually acceptable' to Gateway and to the investor group, by the end of February.Shares were unchanged at $2.12 in afternoon trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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