ADVISORY/AppNet Holds First Major Investment Community Conference
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--(BUSINESS WIRE)--
*T
Who: AppNet, Inc.
What: Investor Conference
Where: New York City
When: May 23, 2000
Why: AppNet is holding its first major investment
community conference at the Millennium Broadway
Hotel in New York City today. During the conference,
AppNet senior executives are making presentations to
provide updates on the company's growth initiatives;
activities with key alliance partners and customers
such as Commerce One, MCI WorldCom, and UCCnet; as
well as AppNet's strong push into B2B eMarketplaces.
Here are some highlights being presented:
-- The company is comfortable with the current
analysts' consensus expectations of 2000 revenue
of $190 million to $200 million and cash EPS of 29
to 30 cents.
-- The company is setting new revenue targets for
2001 that would indicate revenue of $290 million
to $300 million, representing 50% to 55% growth.
AppNet is setting a new 2001 cash EPS target of 47
to 51 cents, representing about 65% growth.
-- The company is setting new revenue targets for
2002 that would indicate revenue of $400 million
to $410 million, representing nearly 40% growth.
AppNet is also setting a new cash EPS target of 70
to 75 cents, representing a cumulative average
growth from 2000 of more than 50% year-over-year.
-- The company continues to see strong traction in
working with the trading partners of UCCnet in
providing e-business services with that community.
-- The pipeline of potential customers from the MCI
WorldCom relationship continues to be strong.
-- AppNet's e-business outsourcing, or managed
application services offering is growing
successfully and is expected to represent 15% of
revenues in 2002.
These targets are being given as defined by AppNet's current
business model and strategic growth priorities. The company does not
assume the obligation to update these targets in the future.
AppNet (NASDAQ:APNT) is a premier provider of end-to-end
e-business solutions, from interactive marketing to back-office
integration. For companies transforming themselves for the new
Internet economy, the firm offers a unique mix of Internet strategy,
marketing, and technology services. AppNet is the fourth largest
interactive marketing agency according to Ad Age and one of the 50
largest pure Internet companies, according to Internet World. AppNet
works with Fortune 1000 and dot.com companies. Customers include
UCCnet, Baxter Healthcare, Dial, ProcureZone.com Ford, Sprint,
Hyundai, bet.com, UNICEF, KB Toys, NEC, and Unilever.
This press release may include "forward-looking statements" for
purposes of the Securities Exchange Act of 1934. All statements
herein, other than those of historical fact, including statements
regarding future contractual arrangements or performance, competitive
strengths, and business strategy, are forward-looking. Actual results
or events may differ materially from those projected in such
forward-looking statements. Information regarding the factors that
could cause such differences is contained in AppNet's filings with the
Securities and Exchange Commission.
CONTACT: AppNet, Inc.
Alla Iaquinto/Media
301/581-2489
alla.iaquinto@appnet.com
or
Kevin Taback/Investors
877/551-2323
ir@appnet.com
KEYWORD: MARYLAND PENNSYLVANIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS HARDWARE INTERNET
SOFTWARE TELECOMMUNICATIONS E-COMMERCE ADVISORY
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