SEMOTUS SOLUTIONS PROVIDES GUIDANCE ON STOCK VOLATILITY
SAN JOSE, CA.-(BusinessWire)- May 8, 2002, 04:20 AM PST/07:20 AM
EST--Semotus Solutions (AMX:DLK), a leading provider of mobile application software connecting employees to critical information and processes, today announced, in keeping with its policy of providing guidance on financial and operational matters, that the Company does not know of any unusual reasons for the trading volatility of its common stock yesterday, May 8th.
"The company is unaware of any corporate event that would justify yesterday's volatility. The technology sector has been under continuous selling pressure for many months and Semotus has suffered the consequences of the most recent sell-off," said Anthony N. LaPine, Semotus CEO. "It's
certainly perplexing; Semotus continues to make significant progress in growing its revenues while reducing its losses in a very hostile technology environment.
Semotus expects its year-end results to reflect growth in year-to-year revenues, and a reduction in its pro forma operating loss (which excludes all non-cash revenue and expense items)." As is customary, the Company expects to announce its fiscal year ended March 31, 2002 results by the end of June.
"Our cash position is very strong, with about $4 million in the bank. Our burn rate continues to decrease and is currently running between $100K-$200K a month and rapidly trending down. Our two core business units, Professional
Financial Services and Messaging, are demonstrating excellent growth, reflected by the consistent addition of new big-name clients. Semotus is on target to achieve profitability this fiscal year," continued LaPine.
HipLinkXS, Semotus' wireless messaging solution, was implemented in several sites the past week, including Morgan Stanley, Intellicare, Matrikon and Van Kampen American Capital. Equity Market Pro, Semotus' wireless market data software, continues to penetrate the professional financial services market most recently at Bank of America.
"I believe in the future of Semotus and in the six years I have been CEO, I have never sold a single share of stock. I am in fact a buyer of the stock at these prices," LaPine said.
About Semotus Solutions
Semotus Solutions (AMEX:DLK - news) is a leading provider of enterprise application software connecting employees to critical business systems, information, and processes. Semotus Solutions helps mobile employees make better and faster decisions, increase customer satisfaction, and
improve efficiencies in their business processes for shorter sales and service cycles. With a growing enterprise customer base of more than 600 corporations including AOL Time Warner, Alcatel, Lucent Technologies, JP Morgan Chase, Coca-Cola, and Dow Jones, extended over vertical markets
of workforce automation, finance, healthcare, and m-commerce, Semotus Solutions enterprise application software provides mobility, convenience, efficiency and improves profitability.
semotus.com
Semotus Solutions
Media Contact
Stephanie Janard, 303/779-8958
Marketing Manager
Fax: 303/779-0949
sjanard@semotus.com
Semotus Solutions
Investor Relations Contact
Gregory Allen, 800/373-5947
Fax: 408/367-1701
IR@semotus.com
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This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as ``intends, ``believes and similar expressions reflecting something other than historical fact are
intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and
market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the
Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company
undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. |
