Anyone still following this stock? Looks like the news announced after the market closed today leaked:
Manage Hiring and Staffing Processes
Business Wire - October 29, 1997 16:05
RESTRAC RTRK %MASSACHUSETTS %COMED %COMPUTERS %ELECTRONICS V%BW P%BW
LEXINGTON, Mass.--(BUSINESS WIRE)--Oct. 29, 1997--
Sales to Adobe, A. G. Edwards and Northrop Grumman Expand Company's Leadership Into
Broader Market Segments
Restrac, Inc. (NASDAQ:RTRK), the worldwide leader in automated staffing solutions, today
announced that three more leading companies have selected Restrac Hire to manage their hiring
and staffing processes. Sales to Adobe Systems, A. G. Edwards & Sons, Inc. and Northrop
Grumman expand Restrac's leadership into broader market segments. In their respective
industries, Restrac Hire enables these companies to find, hire and redeploy employees more
rapidly and cost-effectively than their competitors. "The tight labor market is affecting all
industries, and companies are looking for a competitive advantage," said Lars Perkins, CEO of
Restrac, Inc. "With the right tools, such as Restrac Hire, these companies can streamline the
time-consuming aspects of the hiring process, select better candidates from the narrowed pool
and focus more on strategic ways to help attract and retain the best employees."
Adobe Systems
Adobe Systems, the company that launched the desktop publishing revolution, has chosen
Restrac Hire to manage its sizable recruiting program. "We receive over 45,000 resumes
annually, and having Restrac Hire's capabilities is critical to running our staffing operation
efficiently," said Lisa Sinizer, staffing programs manager at Adobe. "It is hard to imagine how
any large company can effectively manage recruiting without an applicant tracking system like
Restrac Hire."
A. G. Edwards & Sons, Inc.
A. G. Edwards & Sons, Inc. is a well-known investment firm with more than 6,000 investment
professionals and 581 offices throughout the United States. "We were looking for a technology
solution that would reduce the excessive paperwork and processing that has become an
everyday burden in recruiting," said Sue Weiss, associate vice president of employment. "For us,
Restrac Hire demonstrated superior functionality while at the same time offering the most
intuitive interface available."
Northrop Grumman
Northrop Grumman, a worldwide leader in aerospace and defense management systems, has
offices throughout the United States and receives thousands of resumes each year for job
openings. "Because we are inundated with resumes of all types, we need a system that narrows
our candidate pool to applicants that meet our unique staffing requirements," said John Lenahan,
manager of HR Systems at DataSystems Division of Northrop Grumman. "Restrac Hire is the
ideal solution to manage our vast candidate pool and help us quickly find highly specialized
applicants." Restrac has been expanded to other divisions throughout the Northrop Grumman
Corporation. "We are now able to share resumes across the country and throughout all
divisions," said Kristie Kaehler, manager of the Restrac system at Northrop Grumman.
About Restrac, Inc.
Restrac, Inc. is the worldwide leader in automated staffing solutions. Since 1982, its products
and services have helped businesses significantly reduce the cost of hiring by streamlining the
way employees and jobs are connected. The industry's technology pioneer, Restrac is committed
to delivering cutting-edge software and services that leverage companies' most valuable
resources -- candidates and employees. Restrac Hire is the most flexible, enterprise-wide
solution on the market, a client/server system designed to help companies rapidly find, hire and
deploy the best candidates. More than 275 clients worldwide employ Restrac's client/server
staffing systems. More information about Restrac is available on the World Wide Web at
restrac.com .
Restrac is a registered trademark of Restrac, Inc. and Hire are trademarks of Restrac, Inc. All
other products or services mentioned may be trademarks or registered trademarks of their
respective owners. This press release 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. Certain factors that might cause such a difference include product development risks, new
product announcements and introductions, changes in technology and industry standards, future
demand for staffing software and end-user acceptance of new products introduced by the
Company or its competitors.
CONTACT: Restrac, Inc.
Anna Mooney, 617/869-5000
annam@restrac.com
or
Neva Group
Scott Bauman/Hilarie Lally, 617/441-4000 x236/244
sbauman@neva.com/hlally@neva.com
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