Why is this stock going lower when they have such great growth potential? They are making money, is it that management could care less about it's shareholder's and so they just keep selling!
Wednesday September 9, 8:33 am Eastern Time
Company Press Release
Year 2000 Wire/ATEC Group Inc.'s Y2k
Subsidiary Receives Contract With
Prominent Wall Street Firm for Year 2000 Compliance
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Sept. 9, 1998--ATEC Group (NASDAQ:ATEC -
news), a leading provider of computer solutions, announces that their Y2k subsidiary, LOGIX
Solutions Inc., received a contract with a prominent Wall Street firm for Year 2000 compliance,
asset management and migration of standard application and operational systems in their New
York City location.
Rita Dozal, Chief Operating Officer of LOGIX Solutions, states, ''We are very pleased to be
chosen by this firm for their Y2k project. Working with an organization of their calibre, in the
heart of Wall Street, is very exciting. The Y2k sector was unexpectedly slow over the past few
months. But now we are seeing incredible demand and anticipate a very busy year. The overall
synergy between the Y2k market and ATEC's system integration business should really blossom
in the months ahead.''
According to Surinder Rametra, CEO of ATEC, ''This contract, here in New York, exemplifies
our decision last year to aggressively pursue the Y2k industry. To have strong contracts on both
the East and West coasts, in the time LOGIX has been with us, has been extraordinary. We look
forward to the contributions LOGIX will have on our financial outlook in fiscal 1999. The sector
was slow, but now our pipeline is bursting with demand, and LOGIX has the added benefit of
ATEC's systems integration behind them for value-added services.''
Denver, Colorado-based LOGIX Solutions Inc., a division of ATEC Group Inc., provides
high-quality Year 2000 business solutions, services and resources for Fortune 500 corporations,
financial institutions, healthcare providers and telecommunications companies.
Based in Hauppauge, N.Y., ATEC Group Inc. is a leading system integrator and provider of a
full line of information technology service products. As a one-stop solution provider for the
computer needs of businesses, professionals, government agencies and educational institutions,
ATEC enters the new millennium with a technological arsenal that includes Year 200
remediation, multimedia products, video conferencing, system integration, networking, high
speed data transmission, Internet, and Intranet ready solutions. In addition, the company has
positioned itself for growth in telecommunications, outsourcing of IT professionals, and offshore
software development to provide its clients' technological needs in a cost effective manner.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The
statements which are not historical facts contained in this press release are forward-looking
statements that involve certain risks and uncertainties including but not limited to risks
associated with the uncertainty of future financial results, additional financing requirements,
development of new products, government approval processes, the impact of competitive
products or pricing, technological changes, the effect of economic conditions and other
uncertainties detailed in the company's filings with Securities and Exchange Commission. |
