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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: bob who wrote (13234)	12/18/1998 8:36:00 AM
From: bob	Respond to of 13949

Data Dimensions Comments on Fourth Quarter Performance BELLEVUE, Wash., Dec. 18 /PRNewswire/ -- Data Dimensions, Inc. ("DDI") (Nasdaq: DDIM) today said that it expects its financial results for the fourth quarter ending December 31, 1998, to be below analysts' expectations. Based on preliminary results for the months of October and November, the company currently expects fiscal year 1998 earnings, including non-recurring charges, to be between 65 and 70 cents per share as compared to a loss of 22 cents per share in 1997. Excluding non-recurring charges, the company currently expects fiscal year 1998 earnings to be between 69 and 74 cents per share, compared to earnings per share of 9 cents in 1997. The current outlook for the fourth quarter reflects several factors, including a reduction in Year 2000 remediation work due to certain clients' budgetary pressures, the deferral of Year 2000 project work, and delays in other Information Technology (IT) consulting agreements. "While we are disappointed that early indications show earnings per share coming in short of expectations, the company has experienced significant revenue and earnings growth this year," said Larry Martin, DDI's chairman. "Additionally, we have broadened our senior management team and diversified our revenue base, both of which positions us well for future growth." Gordon Gardiner, DDI's chief financial officer, added, "Certain clients have had to respond to financial conditions within their organizations by reducing IT spending. Although it is difficult to predict such actions, it appears that at least some of these issues are confined to the fourth quarter." Final results for the fourth quarter and full year will be announced January 28, 1999. About Data Dimensions Data Dimensions, Inc., provides expertise in process management through value-added consulting services and related products for the design, implementation, test and maintenance of enterprise-wide information technology systems. Based in Bellevue, Washington, Data Dimensions is an international company assisting business and government to plan and execute information technology solutions from the mainframe to the desktop. For more information about DDI, its services and products, visit DDI's Web site at data-dimensions.com. This press release contains forward-looking statements concerning DDI's current expectations as to results of operations and other matters, including future growth, service offerings, and operations. These forward-looking statements are subject to risks and uncertainties and the company's actual results may vary materially depending on various factors such as the overall demand for Information Technology consulting services, the attraction and retention of employees, and the successful management and completion of client projects. For additional information concerning risks associated with DDI's business and operating results, see the company's Form 10K-SB for the most recently ended fiscal year, under the heading, "Management's Discussion and Analysis of Financial Condition and Results of Operations-Forward Looking Statements and Associated Risks." SOURCE Data Dimensions, Inc. Web Site: data-dimensions.com