Magazine article Black Enterprise

Keeping Stride with Telecommunications: Ault Inc. Takes Center Stage in Our First Spotlight on Black Publicly Traded Firms

Magazine article Black Enterprise

Keeping Stride with Telecommunications: Ault Inc. Takes Center Stage in Our First Spotlight on Black Publicly Traded Firms

Article excerpt

Over half a dozen indexes measure and report stock market movements. Responding to a number of our readers, BLACK ENTERPRISE has created its own quarterly index and insider report on black publicly traded companies.

The first company to he highlighted in this new column is Ault Inc. (Nasdaq: AULT). Based in Minneapolis, it designs, manufactures and markets external Dower conversion products for data and telecommunications equipment and related peripherals.

In the '60s, people in the inner cities rallied to the cry of "Black Power," but in the back streets of corporate business, Joseph Ault started his own power base, Ault Inc., beginning in 1960. Ault is now deceased but the company lives on. Recently, it posted a 52week high of $16.

At that time, "there was a lot of relationship and infrastructure building," says Frederick Green, currently president and CEO. Indeed, selling the company's power devices to such original equipment manufacturers (OEMs) as Western Electric, IBM, Texas Instruments and Teledyne put Ault in a position to make an initial public offering in 1983.

Ault's profits and growth potential attracted an underwriting syndicate of 50 firms led by Dain Bosworth. At that time, Green recalls, Ault had a power conversion device that it was readying for a brand new industry, the up-and-coming "microcomputer" business. "Going into the IPO we'd signed a contract with IBM to provide the power supplies for their newest product-the IBM PC Jr. …

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