First Quarter results just released!
Barry
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ADVANCED SYSTEMS INTERNATIONAL ANNOUNCES
RESULTS FOR Q1 1999
Southfield, MI - April 07, 1999 - Advanced Systems International (ASI)
(OTCBB: ADSN), a leading provider of enterprise software solutions, reported today the unaudited financial results for the first quarter ended March 31,1999.
First quarter 1999 revenues increased more than 460% to $1,762,260 compared to $313,016 for the same period in 1998. Net earnings for the quarter were $306,630 ($0.03 per share) compared to a net loss of $327,500 ($0.04 per share) in 1998.
Gerry Pesut, President and CEO of ASI stated, "Revenue and earnings
surpassed our Q1 plan confirming that ASI has entered a significant growth phase. Our customers are increasing their labor efficiencies and realizing significant value with our solutions. We have extended our product line to include a powerful data distribution and access (DDA) application that will dramatically reduce implementation cycles and costs for the large ERP market. With industry leading products, ASI's multi-plant installation backlog at our Fortune 1000 Customer base, and in-process sales opportunities we expect to continue this rapid growth."
Howard H. Tarnoff, Vice President of Sales and Marketing commented "Our deployment of well trained Account Executives in the Southeast and South Central regions positions us well for opportunities outside of the markets currently served. The paper, pharmaceutical, and furniture industries are examples of new venues for ASI offerings in the remaining quarters of 1999."
Advanced Systems International is a leading supplier of time and attendance and labor allocation applications, as well as data distribution and access (DDA) solutions for the Enterprise Resource Planning (ERP) environment. ASI's cost effective, comprehensive product offering includes the application software, hardware, implementation services and on-going support necessary for rapid deployment of enterprise-wide distributed processing. Key markets include automotive, automotive supply, packaged goods, pharmaceuticals, food processing and other manufacturing industries.
Investor Relations:
Quentin Mai
Telephone: (248) 263-0000
Toll Free: (888) 399-7000
www.advsysintl.com
qmai@advsysintl.com
Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including but not limited to, risks of product non-approval or product development and market acceptance risks, the impact of competitive products and pricing, the results of current and future licensing and other collaborative relationships, the results of financing efforts, developments regarding intellectual property rights and litigation, and other risks identified in the Company's informational documents provided to brokers pursuant to SEC Rule 15c2-11. Actual results, events or performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
Quentin Mai
1-888-399-7000 Ext. 107
qmai@advsysintl.com |
