The Stock Is Dead Also!!:
Versatility Says it Will Report a Significant Loss in the Third Quarter
FAIRFAX, Va., Feb. 12 /PRNewswire/ -- Versatility Inc. (Nasdaq: VERS - news) today announced that it expects to report
a net loss of approximately $2.00 per share for its third quarter ended January 31, 1998. This compares to analyst estimates
for the quarter of a loss of $0.09 per share. The company attributed the loss to a significant drop in revenues, especially from
Value- Added Resellers (VARs), and substantially higher costs than in prior periods.
The Company plans to announce final results for the third quarter in March, followed by an investor conference call. At that
time, Chairman and CEO Ron Charnock and newly named CFO Ken Nelson will detail the reasons for the sales shortfall and
elaborate on steps being taken to increase sales and cost containment plans to improve margins.
About Versatility Inc.
Versatility Inc., based in Fairfax, Virginia, is the leading provider of enterprise-wide customer care solutions for teleservicing
and telesales call center solutions in the services industries. The only vendor to offer a full suite of software that is CTI- and
CBR-embedded, Versatility has helped companies including Avantel, British Telecommunications Plc. (BT), Lucent
Technologies, Mellon Bank, and Sanwa Bank California find the hidden revenues in their call centers. Versatility is traded on
NASDAQ under the symbol VERS and can be reached at 1-800-VERSATILE (1-800-837-7284 extension: 111) or via the
World Wide Web at versatility.com.
In addition to historical information contained herein, this release may contain forward looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section 32E of the Securities and Exchange Act of 1934, as
amended, and are subject to the safe harbors created thereby. The Company's future actual results could differ materially from
the forward-looking statements discussed herein because of several factors including but not limited to competition, the ability
of the Company to rapidly develop and market new and existing products and to control the related costs, the ability of the
Company to expand its direct sales force and indirect distribution channels, the ability of the company to attract and retain key
personnel, the level of orders which are received and can be implemented in a quarter, general economic conditions in the
United States and world wide markets served by the Company and those other factors discussed from time to time in the
Company's public reports filed with the Securities and Exchange Commission, such as those discussed under ''Risk Factors''
included in the registration of the Company's Form S-1, filed December 13, 1996 and discussed under ''Factors Which May
Effect Future Operating Results'' in the Company's quarterly report on Form 10-Q for the quarter ended October 31, 1997.
Versatility is a trademark of Versatility Inc. All other trademarks contained herein are the property of their respective owners.
SOURCE: Versatility, Inc. |
