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Technology Stocks : Artisoft (ASFT) Sleeper about to wake? -- Ignore unavailable to you. Want to Upgrade?

To: Brian Benson who wrote (721)	6/30/1998 9:15:00 PM
From: Linda Kaplan	Respond to of 810

Headline: Artisoft Announces Layoffs; Computer Telephony Focus Is Company Future ====================================================================== TUCSON, Ariz., June 30 /PRNewswire/ -- Artisoft, Inc. (NASDAQ:ASFT) announced today that it has completed a layoff of 23 employees in the Communication Software Group. These layoffs and the accompanying restructuring charges were the result of the continuing decline in networking product revenue. The Communication Software Group will now focus their core competencies on OEM and strategic partnerships. The company does not anticipate a reduction in total employees, however, because of new hiring in Cambridge, MA, where computer telephony products are managed and developed. "This has been a tough year," commented T. Paul Thomas, Artisoft President and Chief Operating Officer. "But we now have the appropriate organizational and product focus to address the computer telephony market. We recently announced TeleVantage, Artisoft's PC based, full function, phone system and are pleased by all the awards and attention it is getting, and I'm encouraged by it's future potential." The company anticipates certain one-time expenses charged during the quarter for severance, office closures in Japan, United Kingdom, and New Jersey, and other costs associated with the restructuring. This total restructuring charge should not exceed $3.5 million. Thomas also said, "The company's cash position continues to be strong, however, this action was key to move the company toward improved operating results." About Artisoft Artisoft leads the industry in providing computer telephony, communications, and networking solutions for small and medium-size businesses. Over its 15-year history, Artisoft has received more than 100 industry awards in all facets of product design, production and servicing, recognizing the company's commitment to providing quality products and superior support. A six-time winner of the coveted PC Magazine Editors' Choice award and four-time winner of the VARBusiness ARC Award for best network operating system vendor, Artisoft is renowned for the ease of use, affordability and performance of its products. Artisoft products are currently sold worldwide through affiliated distributors and dealers. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are the impact of competitive products and pricing, product demand and market acceptance risks, the presence of competitors with greater financial resources, product development and commercialization risks, costs associated with integration and administration of acquired operations, the total costs associated with, and the ability to successfully implement, the initiatives described herein, capacity supply constraints or difficulties, the results of financing efforts and other factors detailed in the Company's filings with the Securities and Exchange Commission including its recent filings on Forms 10-K and 10-Q. SOURCE Artisoft, Inc. -0- 06/30/98 /CONTACT: T. Paul Thomas for Artisoft, 617-354-0600/