ZMAX CORP. Announces New Software Product and Contract Award From Major International Cosmetic Company
GERMANTOWN, Md.--(BUSINESS WIRE)--Dec. 3, 1998--ZMAX CORP. (NASDAQ SMALL CAP:ZMAX - news) announced Thursday that its wholly owned subsidiary, Century Services Incorporated (CSI), has been awarded and signed a contract with a major international cosmetic company for CSI's new Independent Verification and Validation (IV&V) software product.
Michael C. Higgins, president and CEO of ZMAX remarked, ''CSI's new IV&V software was chosen as the superior software product by this major international cosmetic company after they conducted a competitive selection process involving various IV&V software tools.
Our new IV&V software product possesses superior accuracy, high speed processing and can be readily customized for the unique needs of the client, all of which results in reduced testing time and costs for the client. This award of additional business from an existing client of CSI is also a confirmation of the continuing high quality and competitiveness of CSI's products and services.
As an ever increasing number of companies utilize IV&V as a new and additional methodology to locate and correct errors in their Y2K remediation, CSI will continue to be well positioned to provide its expertise in services and software for this growing market area.''
ZMAX Corp. is an IT consulting and re-engineering company focusing on system re-engineering and IT consulting services, including Y2K analysis and remediation, system testing, project management, independent verification and validation of IT systems and processes, as well as other diversified IT related services.
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 risk 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 business and prospects include the possibility that a competitor will develop a more comprehensive or less expensive service or solution to Zmax's services or products and delays in the market awareness of ZMAX and its product and service solutions.
These factors and others are discussed in the ''Management Discussion and Analysis'' section of ZMAX's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 1997, to which reference should be made.
ZMAX CORP. is quoted on the NASDAQ Small Cap exchange under the symbol of ''ZMAX'' and on the Frankfurt and Berlin Stock Exchanges under the symbol of ''ZMX''
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Contact:
ZMAX CORP.
Investor Communications Co.
800/416-0811 or 800/547-0443
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