NEWS RELEASE 01/31/01.
Triant Technologies Inc.
corpcomm@triant.com
1-800-663-8611
Attention Business Editors:
Triant reports backlog increased to $2.8 million during fourth quarter; Enters 2001 with backlog at $1.2 million and cash balance over $20 Million
NANAIMO, BC, Jan. 31 /CNW/ - Triant Technologies Inc. (CDNX: TNT; OTCBB:
TNTTF) today reported that during the fourth quarter of 2000, its backlog
increased to $2.8 million and that in the same quarter, it received $1.6
million in cash which, upon the completion of the year-end audit, will be
allocated to current revenue for recognition in 2000 and deferred revenue for
recognition in 2001. The Company enters 2001 with a backlog of $1.2 million
and a cash balance of over $20 million. (All amounts are expressed in Canadian
dollars and are unaudited.)
Paul O'Sullivan, president and chief executive officer, stated: "Our
number one goal for 2001 is significant revenue growth. We, together with our
global distribution partners, are aggressively pursuing larger orders for
ModelWare/RT, Triant's equipment health monitoring and advanced fault
detection solution. We are also continuing to build strategic alliances with
key customers and business partners. In addition, our financial strength
resulting from the $15 million financing in June 2000 has enabled us to make
significant investments in building an organization capable of supporting our
expected growth. Our staff has doubled in the past year including key hires in
sales and marketing, technical development, and operations. And, since mid-
2000, we have maintained our cash balance at over $20 million.
"While we recognize that the market is still in the early stage of
development, we believe the benefits of Advanced Process Control (APC), which
includes equipment health monitoring and advanced fault detection, are
starting to be realized in the semiconductor industry. As a result of these
benefits starting to be realized and as a result of the progress we've made in
2000, we are optimistic about our prospects in 2001."
Triant Technologies Inc. is a leader in semiconductor equipment health
monitoring and advanced fault detection (EHM&AFD) solutions. Triant's
principal product, ModelWare/RT(TM), is an innovative software solution
designed specifically for semiconductor manufacturers to detect and identify
process and equipment faults in real-time and off-line. ModelWare/RT provides
insight into equipment conditions and uses set-point and model-based alarms to
quickly alert fab personnel of processing and equipment failures and benefits
our customers by increasing overall equipment effectiveness, improving
equipment maintainability and uptime, and increasing equipment throughput.
Triant information is available via the Internet at www.triant.com
This news release contains forward-looking statements that are subject to
various risks and uncertainties. The Company's actual results could differ
materially from those anticipated in such forward-looking statements as a
result of numerous factors that may be beyond the Company's control. Forward-
looking statements are based on the expectations and opinions of the Company's
management on the date the statements are made, and the Company assumes no
obligation to update forward-looking statements should circumstances in
management's expectations or opinions change.
%SEDAR: 00003087E
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For further information: Mark Stephens, CFO / Tom Corcoran, Triant
Technologies Inc., (250) 754-4223, mail@triant.com,; Van Negris / Philip J.
Denning, Kehoe, White, Van Negris & Company, Inc., (212) 396-0606,
kehoewhite@financial-relations.com |
