Be curious of what you guys think of HWS.
Todays news release:
Monday December 21, 7:51 am Eastern Time
Company Press Release
SOURCE: Hospitality Worldwide Services, Inc.
Hospitality Worldwide Services
Reiterates Strong Business Outlook - HWS Executives
purchase 210,000 shares -
NEW YORK, Dec. 21 /PRNewswire/ -- Hospitality Worldwide Services, Inc. (Amex: HWS -
news), which recently reported record financial results for the third quarter and first nine months of
1998, today reiterated its positive business outlook.
''We do not believe that the current share price accurately reflects the demonstrated performance
and solid future prospects for the Company,'' commented Robert Berman. ''We currently have a
backlog of business in excess of $250 million, which will take us well into 1999, and we continue to
be comfortable with earnings estimates for the fourth quarter of 1998.''
Separately, the Company announced that because of their confidence that HWS shares represent an
exceptional value at current levels, key members of the Company's senior management team have
purchased a total of 210,000 shares in the last month, including 76,666 shares purchased Robert
Berman, Chairman and Chief Executive Officer. HWS closed at $3-11/16 per share on Friday.
Hospitality Worldwide Services, Inc. is a leading provider of a broad range of outsourcing services
to the hospitality industry. Through its subsidiaries, the Company provides hotel renovation,
procurement and reordering services online, and logistics, warehousing and transportation. In
addition, HWS offers ground/up construction, development, and asset management.
The statements contained in this release which are not historical facts may be deemed to contain
forward-looking statements with respect to events, the occurrence of which involve risks and
uncertainties, including, without limitation, demand and competition for the Company's services and
other risks or uncertainties detailed in the Company's Securities and Exchange Commission filings.
SOURCE: Hospitality Worldwide Services, Inc.
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