This should help!!!!!!!!
TAVA Technologies, Inc. Receives Record New Year 2000 Orders For May
June 3, 1998 08:06 AM
ENGLEWOOD, Colo., June 3 /PRNewswire/ -- TAVA Technologies Inc. TAVA a leading provider of automation and information technology solutions for industry, announced today that it achieved record bookings for its Plant Y2k One(TM) products and services in May. New orders for Plant Y2K One(TM) software tools and services came to more than $12,500,000 for the month and include licenses of the company's methodology, database access fees and project services. The orders in May spanned 24 clients in industries including: automotive, food processing, chemicals, refining, pulp and paper, and mining and mineral processing. Scheduled execution and resulting revenue recognition varies by client and specific product services combination.
Plant Y2K One(TM) is a suite of products, which offers manufacturing and process industries a tool-based solution to address companies' year 2000 compliance issues at the factory and control layer of its IT systems
John Jenkins, CEO said, "The awareness of Y2K issues in factory automation and process control is increasing rapidly. This is reflected in the accelerating demand for our products. That said, while some industry leaders have progressed into remediation work, most of these new orders actually reflect only the launch of the initial inventory and assessment phase of client programs. There is still much to be done to achieve Y2K readiness at the factory floor in U.S. industry."
TAVA (www.tavatech.com) provides factory automation and control systems integration helping clients in manufacturing and process industries integrate their processes, applications, hardware and software into seamless manufacturing enterprises. Located in 11 regional offices throughout the U.S., TAVA has a staff of more than 400.
Statements made in this Press Release that are not historical or current facts are "forward looking statements" made pursuant to the safe harbor provisions of federal securities laws. Forward-looking statements represent management's best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected. Such factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital, unexpected costs and failure to capitalize upon access of new clientele. Specific risks and uncertainties which may affect forward-looking statements about the Company's Plant Y2K One(TM) business and prospects include the possibility that a competitor will develop a more comprehensive or less expensive Y2K solution, failure to meet increased staff requirements, and delays in market awareness of TAVA and its product and service solutions. These factors and others are discussed in the "Management's Discussion and Analysis" section of the Company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 1997, to which reference should be made.
SOURCE TAVA Technologies Inc.
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