California Software Announces NevWest Securitires Reiterates Strong Buy Recommendation
SANTA ANA, Calif.--(BUSINESS WIRE)--March 10, 2000--California Software Corporation, (OTC BB: CAWC), a leader in IBM Midrange migration products and developer of the award-winning BABY(tm) product line, today announced Nevada-based NevWest Securities Corporation has initiated coverage on California Software Corporation, and has released an equity research report indicating a strong buy recommendation with a near term share price target of $28 pre-split.
Bruce Acacio, chief executive officer of California Software stated, ``The release of this equity report, combined with the announced stock split and our anticipated move to the American Stock Exchange, will further enhance our national exposure and allow us to continue our dramatic growth trend.'
The Company's growth-through-acquisition and core business expansion strategy is designed to create an anticipated $100 million entity by the end of 2001. Management targets acquisitions based on their ability to integrate with and complement existing core competencies of the organization.
``We want to insure that we maintain our market leadership in the management of Midrange migration within the IBM As/400 and PC-LAN business environments, and build our strategic presence,' commented Carol Conway, California Software vice president.
For more information about California Software, contact Kate Tague, at 949/553-8900, ext. 206.
California Software Corporation is the international leading provider of IBM Midrange migration software solutions marketed under the brand name BABY. These products support the migration IBM AS/400 screens and applications into PC-LAN business environment and enjoy over 100,000 installations in 56 countries.
Forward-looking statements in this release are made pursuant to the ``safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Contact:
California Software
Kate Tague, 949/553-8900
ktague@calsw.com
www.californiasoftware.com
or
OTC Financial Network
Robert Weiss, 781/444-6100 ext. 11
rick@otcfn.com
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