ANLY- solving the year 2000 problem Message Board

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Technology Stocks : ANLY- solving the year 2000 problem

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To: Greg Jung who wrote (47)	9/21/1999 11:40:00 AM
From: Greg Jung	Read Replies (1) of 51

Y2K Slowdown Impacts Analysts International; Long-Term Prospects Remain Strong PR Newswire - September 21, 1999 07:16 MINNEAPOLIS, Sept. 21 /PRNewswire/ -- Analysts International Corporation (Nasdaq: ANLY) expects that revenue and earnings per share for the first half of its fiscal year 2000 will be below analysts' current estimates. Analysts International said the shortfall results from an industry-wide reduction in spending on information technology as companies defer projects until they can evaluate the effect of any Year 2000 computer problems. The company said it currently expects that earnings for the six months ending Dec. 31, 1999, will be in the range of 30-35 cents and revenues will decline somewhat from the $311 million reported in last year's first half. For the first half of 1999, diluted earnings per share were 49 cents. "We believe that the current slowdown in IT spending is a short-term phenomenon," said Frederick W. Lang, chairman and chief executive officer. "Project postponements are contributing to a backlog of IT needs at many companies, and we anticipate that the industry will resume strong growth in the second half of our fiscal year. "We are continuing to invest in higher-margin, value-added services that we believe will put us in a strong position to grow once conditions return to normal. In addition, we are aggressively pursuing initiatives to leverage the potential of e-commerce for our clients and in our own organization. Virtually all of our branches are involved in e-commerce projects on behalf of clients. We believe we are positioned well to participate in the high-growth IT markets of the new century."

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