All, << press release >> all is well in futureworld!
May 13, 1998 11:48 AM
CHARLOTTE, N.C., May 13 /PRNewswire/ -- In response to investor inquires regarding the recent drop in its stock price, the management of Alydaar Software Corporation sited no known changes in the company's business outlook.
Alydaar's CEO, Robert Gruder, stated, "Based on our first quarter results, our business continues to grow at double-digit rates as well as our profitability. We are not only experiencing strong revenue growth in our Year 2000 services, but we have recently been awarded contracts for non-Year 2000 work as well. We have won language conversion contracts in the Cobol to Cobol market. In addition, we are in negotiations with two major European firms concerning a joint Euro conversion effort."
Alydaar is also making available a release of its automated SmartCode(R) conversion process for the rapidly expanding Java marketplace. The SmartCode translator will have the capabilities of converting old legacy code such as COBOL and PL/I into C++ or Java. Gruder stated, "We believe that this new technology allows us to keep one step ahead of a marketplace that we anticipate will rapidly expand in the coming years as companies follow the next wave of client-server/internet based applications."
Alydaar Software Corporation is a software re-engineering company, specializing in providing services to resolve the Year 2000 problem, as well as computer language translation and systems migration services. Using SmartCode, its core re-engineering technology, Alydaar can automatically correct millions of lines of code per month at its Charlotte, NC code remediation factory. Alydaar has offices throughout North America and Europe. More information about Alydaar Software and its services can be found on the World Wide Web at alydaar.com.
The statements made in this news release that are not historical facts contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by the use of forward-looking terminology such as "may," "will," "anticipates," "expects," "projects," "estimates," "believes," or "continue," the negative thereof, other variations or comparable terminology. Important factors, including certain risks and uncertainties, with respect to such forward looking statements that could cause actual results to differ materially from those reflected in such forward looking statements include, but are not limited to, the impact of competitive products and services, the ability of customers to package code in a timely manner, the Company's ability to manage growth and acquisitions of technology or people, the effect of economic and business conditions, including risks inherent in international operations and the ability to attract and retain technical personnel.
SOURCE Alydaar Software Corporation
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