It was used by the Egyptians against the Israelis, resulting in the sinking of the destroyer Eilath
Separately, the Company announced that Ron Eilath
has resigned as the Company's Chief Financial Officer.
The navies of the Western nations were jolted in 1967 when Soviet-built SS-N-2A "Styx A" antiship missiles, fired by Egyptian patrol boats, sank the Israeli destroyed Eilath
President and CEO Greg Walling and CFO Ron Eilath
will review the results and discuss the Company's outlook.
, Chief Financial Officer of Cabletel, stated, " Negotiations with the holder of the note and our senior lenders have been positive and, although no assurances can be given that a successful restructuring will be agreed upon, we are encouraged by the progress we have made and are hopeful that a restructuring of the note will be completed shortly.
, Chief Financial Officer of Cabletel, noted, "As anticipated, during the quarter ended March 31, 2003, the Company was positively impacted with a realized foreign exchange gain of approximately $300,000 as a result of a strengthening in the Canadian dollar vs.