PREMIS Corporation Announces Conditional
Acceptance of the United States Postal Service POS ONE Application
Software
MINNEAPOLIS, Sept. 14 /PRNewswire/ -- PREMIS Corporation (OTC Bulletin Board: PMIS - news) today announced
that NCR Corporation (NYSE: NCR - news) has received the U.S. Postal Service's conditional acceptance of POS ONE
application software and that PREMIS has received the first of two payments of $3,250,000 under its previously announced
agreement with NCR.
PREMIS' agreement with NCR Corporation authorizes NCR to utilize portions of PREMIS' commercial OpenStore
technology in the Postal Service's POS ONE program. The PREMIS commercial OpenStore technology is scheduled to be
installed in approximately 11,000 Postal Service POS terminals over the next several months as part of Stage I of the USPS
POS ONE program. The Postal Service's three-stage deployment of POS ONE represents the largest roll-out of POS
terminals in U.S. history.
The payment from NCR will be fully recognized as license revenue in PREMIS' second quarter ending Sept. 30, resulting in a
substantial positive impact on the bottom line, the company said.
''This first installment significantly enhances PREMIS' financial condition and provides the necessary funding to take advantage
of the technological lead we have in the commercial marketplace today,'' said Fritz Biermeier, president and chief executive
officer of PREMIS. ''We now can focus our attention on penetrating the commercial marketplace with our entire
OpenEnterprise suite of products, which includes PREMIS OpenStore.
''As we announced earlier this month, all aspects of our PREMIS OpenEnterprise solution have been installed in pilot stores by
Cotton Ginny Limited, the large Canadian specialty retailer. We also have licensed the OpenEnterprise product suite to LA
Weight Loss Centers, Inc., for use in its operations throughout the United States.
''In short, we are looking forward to the second half of our fiscal year with a combination of significant cash resources, no
debt, industry-leading technology and our first major commercial customers for our enterprise-wide retail solutions.''
The second equal installment of $3,250,000 is payable by NCR no later than June 1, 1999, upon NCR's receipt of an order
for Stage II from the U.S. Postal Service for the POS ONE application software, which includes the PREMIS OpenStore
software.
About PREMIS
PREMIS Corporation, based in Minneapolis, markets and supports a line of enterprise-wide retail automation solutions to
meet the information needs of multi-store specialty and general merchandise retailing chains. PREMIS retail applications include
PREMIS OpenEnterprise, which has three primary components: PREMIS OpenStore, a comprehensive in-store point-of-sale
and back office system; PREMIS OpenNet, a unified family of communications and PREMIS networking products to expand
headquarters operations out to the stores, and PREMIS OpenOffice, an integrated head office retail management system. For
more company information, refer to the PREMIS web site at premis.com
The press release may contain forward-looking statements that are made in reliance upon the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Future events may involve risks and uncertainties, among which are
uncertainties related to the final development and market acceptance of proposed new products, conducting a successful sales
and marketing program, actions by competitors which could affect sales, pricing and profitability of the Company's products,
management of product transitions and the Company's ability to control costs. These forward-looking statements involve risks
and uncertainties, and actual results may be different. In addition, the results of the Company continue to be highly dependent
upon the timing of customer orders. The delay in any customer order could have a material adverse impact on the results of the
company. Please also refer to the Company's Securities and Exchange Commission reports, including but not limited to the
Form 10-KSB for the year ended March 31, 1998, the Form S-2 dated Sept. 26, 1996, Fiscal 1999 quarterly reports on
Form 10-QSB, and other documents filed with the Securities and Exchange Commission. |
