Monday July 6, 9:15 am Eastern Time
Company Press Release
Vertex Expects Return to Profitability in 4th Quarter
With Strong Growth in Revenues and Earnings in Fiscal
1999
CLIFTON, N.J.--(BUSINESS WIRE)--July 6, 1998--Vertex Industries (OTCBB: VETX - news),
a leading systems integration and middleware solutions provider, announced today that it expects to
return to profitability in the fourth quarter of Fiscal Year 1998, ending July 31, 1998, and projects
strong profitability for Fiscal Year 1999.
For the last quarter of Fiscal Year 1998, Vertex anticipates positive net earnings from continuing
operations on revenues in excess of $900,000 as compared to a net loss of $482,694 on revenues
of $604,933 for the same period in Fiscal Year 1997. For the first half of Fiscal Year 1999, Vertex
expects net earnings in excess of $1,100,000 or $.20 per share, versus a net loss of $291,387 or
$.05 per share for the same period in Fiscal Year 1998.
Ron Byer, President and CEO of Vertex, stated, ''The outlook and anticipated growth of the
Company are very exciting and reflect the new products, and sales and marketing initiatives we have
taken over the past eight months. The real benefits of our recently announced $4.1 million contract
with a major telecommunications company and new Warehouse Management System sales will
appear in the first half of our next Fiscal Year. In addition, our previously announced merger of
Vertex's inactive subsidiary has already provided an increase of 42% in Shareholder's Equity as
reported in the Company's latest 10Q filing.''
''We are committed to ensuring continued profit growth from this point onward,'' continued Byer.
Certain information and statements included or implied are forward looking and involve certain risks
and uncertainties that could cause actual results to differ materially from those expressed or implied
by these statements. These forward-looking statements are identified by their use of terms and
phrases such as ''expects,'' ''projects,'' ''anticipates,'' and ''anticipated.''
Vertex Industries, Inc. is a systems integration and middleware solutions provider that offers
turn-key automated bar code solutions and middleware support for the seamless connection of
distributed applications. Vertex customers include AT&T, Bell Atlantic, MCI, Credit Lyonnais, Dell
Computers, Tenneco Packaging, and the New Zealand Stock Exchange.
Contact:
Vertex Industries
Ron Byer, 973/777-3500
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