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Technology Stocks : Navigant International (FLYR) -- Ignore unavailable to you. Want to Upgrade?

To: Tummus1 who wrote (279)	12/31/1998 5:22:00 PM
From: mike.com	Read Replies (1) \| Respond to of 725

More good news TW. I like this growth by acquisition strategy and the fact they are diversifying into different parts of the country.

To: Tummus1 who wrote (279)	12/31/1998 5:37:00 PM
From: Mr. Miller	Respond to of 725

Thanks TWEST. Best to just reprint it, since in a year, that URL will be expired. I really like the fact that the purchase is ALL CASH. Decent strength in such a weak day. Testament to strong hands grabbing hold of this thing. Look for a great January and 1999! Thursday December 31, 4:15 pm Eastern Time Company Press Release SOURCE: Navigant International, Inc. Navigant International Acquires First Agency in the Florida Market Akra Travel Provides Presence in Growing Jacksonville Area DENVER, Dec. 31 /PRNewswire/ -- Navigant International, Inc. (Nasdaq: FLYR - news), one of the largest suppliers of corporate travel services in the U.S., today announced it has completed the acquisition of Akra Travel, Inc., based in Jacksonville, Fla. With revenues in excess of $2.6 million from air sales of approximately $25 million during the twelve month period ended June 30, 1998, Akra Travel is the third largest travel agency in the Jacksonville area. The acquisition was accounted for as a purchase, and terms of the all cash deal were not disclosed. ''We are excited by our first acquisition in the Southeast,'' said Edward Adams, Chief Executive Officer of Navigant International. ''Akra has strong ties to other large independent travel agencies throughout the region, which should enable us to continue our acquisition strategy and establish a presence in other growing markets in the Southeast. From a strategic standpoint, Akra is a good fit with the other agencies in Navigant. They implemented service fees on their accounts earlier this year and have been able to maintain strong profit margins despite commission changes imposed by air carriers last year.'' ''By becoming part of the Navigant team, we will have the tools necessary to compete and grow in the current environment,'' said Vincent Akra, Jr., chairman and founder of Akra Travel, Inc. ''Although we have been able to maintain growth over the past couple years, Navigant provides us with a wider array of service and technology products, including access to their web reporting and Internet transaction tools, so that we can continue to add value and service to our customer base.'' Navigant is one of the five largest providers of corporate travel management services in the United States based on airline ticket sales. The Company currently has approximately 438 regional travel offices and on-site customer travel operations, including offices in 18 of the 25 largest U.S. business travel markets. The Company's shares are traded on the Nasdaq National Market System under the symbol ''FLYR.'' This news release contains forward-looking statements, including statements about the Company's growth strategies, the integration of prior or potential future acquisitions, the timing of new acquisitions, the impact of competition, and general industry or business trends or events. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual events or results may differ materially from those discussed in the forward-looking statements as a result of various factors, including, without limitation, the risk factors detailed from time to time in the Company's SEC reports, including the reports on Forms 10-K and 10-Q. The forward-looking statements made herein are only as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. SOURCE: Navigant International, Inc.