TSSW News:
TouchStone Software Corporation Announces New Business Model
Software Developer to Concentrate On Its Strengths
NORTH ANDOVER, Mass., Jun 25, 2001 (BUSINESS WIRE) -- TouchStone Software Corporation (OTC BB: TSSW chart, msgs), a developer of innovative utility software and system software upgrades, announced today that it was initiating a new business model for 2001 that is designed to concentrate corporate interests on generating greater revenues through its core business units.
In the fall of 2000, Touchstone began liquidating assets and business interests that would impede its remodeling of core revenues for the year 2001. The company successfully sold its CheckIt Retail Line to Smith Micro Software, Inc. (NASDAQ: SMSI chart, msgs) and continued its focus of streamlining through the end of the first quarter, 2001.
"The time had come for us to return to our core businesses and take advantage of the growth we had built up in our outside interests," said Pierre Narath, CEO and president of TouchStone Software Corporation. "We have carefully positioned ourselves in 2001 with a stable slate of businesses and a clear vision on increasing their revenue streams."
The company will retain its online service eSupport.com, Inc. and continue updating the recently released BIOS Wizard utility as well as continued development of our enhanced BIOS Upgrade technology. The company will also enhance its presence at esupport.com. Touchstone has numerous interests in the technology sector as well and will continue managing its equity investments in B2B and B2C companies but will not pursue additional investments in these areas at this time.
"Our new strategy is based on innovative ways to bring greater value to our shareholders. We are dedicated to bringing our top quality technology solutions to the forefront of their market sector. This will solidify our core holdings and increase our bottom-line," said Narath. The company's primary web sites are currently generating an average of greater than 200,000 unique visitors per month and the company is searching for ways to generate additional revenue from this stream of traffic.
The company plans to release an update on the status of its investment portfolio at a later date.
About TouchStone
TouchStone Software Corporation ("TouchStone" or the "company") designs, develops, markets, and supports a line of computer problem-solving products that simplify personal computer installation, support, and maintenance. TouchStone operates from one location in the United States. The company markets its products, domestically and internationally through software distributors and directly to original equipment manufacturers and end users, primarily located in the United States and Canada.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors including the ability of the company to successfully commercialize its new technologies as well as risk factors set forth under "Factors Affecting Future Operating Results" in the company's annual report on Form 10-K and such other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investors are cautioned that forward-looking statements are inherently uncertain. These forward-looking statements represent the best judgment of the company as on the date of this press release, and the company cautions readers not to place undue reliance on such statements. Actual performance and results of operations may differ materially from those projected or suggested in the forward-looking statements due to certain risks and uncertainties including, without limitation, risks associated with fluctuations in the company's operating results, volume and timing of orders received, changes in the mix of products sold, competitive pricing pressure, the company's ability to meet or renegotiate customer demands, the ability to anticipate changes in the market, the company's ability to finance its operations on terms that are acceptable, the company's ability to attract and retain qualified personnel including the company's management, changes in the global economy, changes in regulatory processes, the dependence on certain key customers the availability and timing of funding for the company's current products and the development of future products. TouchStone assumes no obligation to update the information included in this news release.
Contact:
TouchStone Software
Pierre A. Narath
Chairman of the Board, President, CEO
(978) 686-6468
News provided by
COMTEX User Agreement |
