RomTech, Inc. Changes Its Name To eGames, Inc. to Reflect the Company's Commitment to the PC Gaming Market
LANGHORNE, Pa., Feb. 2 /PRNewswire/ -- RomTech, Inc. (Nasdaq: ROMT - news) today announced that its Board of Directors has approved a change in the name of the Company to eGames, Inc., effective March 1, 1999. The Company's new web site, www.eGames.com will be launched on the same date.
RomTech, currently traded on the Nasdaq SmallCap Market System under the ticker symbol ROMT, will be listed as EGAM effective March 1.
One of America's fastest growing publishers of PC games and entertainment software, the Company is changing its identity to reemphasize its commitment to the PC gaming market. It also reflects the Company's Internet strategy as a means of increasing sales, both through its web site and its retail distribution channels.
''As PC prices have fallen, we have seen our sales grow as consumers seek out affordable, fun software games. Our goal is to achieve market leadership in the value-priced niche of the PC gaming market; and we believe that our commitment to Internet marketing, our business plan, and our name change will help us reach that goal,'' said Jerry Klein, President and Chief Executive Officer of the Company.
''Our mission is to become the number one provider of affordable, easy-to-use, Family Friendly(TM) computer software games. Possessing the right name on the Internet, like a retail store occupying the right location, is key to generating more traffic,'' said Klein.
''We sell our PC games under the popular Galaxy Software(TM) brand in leading retail chain stores throughout North America and twenty-one foreign countries, as well as through our eCommerce web site. In addition to instantly giving us more visibility through the Internet, the name eGames will also serve as a platform from which the Company can develop new products, unique brand names, and trademarks for our continuously evolving lines of fun-to-play Family Friendly software,'' continued Mr. Klein.
''Our Internet sales strategy is highly complementary to our retail marketing efforts. In fact, we have an advantage very few Internet companies enjoy,'' commented Bill Acheson, the Company's vice president of sales and marketing. ''The majority of our sales are through mass retail channels. This presents us with an excellent opportunity to effectively market our Internet site by providing web links embedded within our gaming software. We expect to have about 4 million new customers this year at retail. Every time a consumer buys one of our products, they're just a click away from our web site.''
''Our web site is set up in a way that visitors can demo games online, which in essence allows them to try our games before they buy, order direct or buy our products at their favorite retail stores. Basically, our ecommerce strategy means that anybody with a computer and a modem can purchase and download any of our products within minutes. We also have an Extranet site to build stronger relationships with our retail buyers, distribution partners and software developers. Looking ahead, we believe that our Internet strategy will increase both retail and online sales,'' concluded Mr. Acheson.
RomTech, soon to be known as eGames, is headquartered in Langhorne, Pa. In addition to software games, the Company publishes a diversified line of PC software for small business and home office applications. The Company is best known for its Galaxy of Games(TM), Galaxy of Home Office Help(TM), Game Master Series(TM) and Galaxy of Arcade(TM) brand names (''Galaxy Software''). Under the Galaxy brand banner, the Company strives to differentiate its products in the marketplace, generate customer and retailer loyalty and encourage repeat purchases. RomTech reported a 39% increase in sales for the first six months of fiscal 1999.
The Company's press releases are available free-of-charge by fax by calling 1-800-PRO-INFO and entering ticker symbol ROMT or at Company News at http:/www.prnewswire.com.
This press release contains certain forward-looking statements, including without limitation, statements regarding future sales, RomTech's market share in the value-priced category, RomTech's position as one of the fastest growing casual gaming software companies, RomTech's business strategy relating to internet marketing and its name change and the success of RomTech's Galaxy branding strategy and Game Master Series products. The actual results achieved by RomTech, and the factors that could cause actual results to differ materially from those indicated by the forward-looking statements, are in many ways beyond RomTech's control. RomTech cautions readers that the following important factors, among others, could cause RomTech's actual results to differ materially from those expressed in this press release: RomTech's ability to implement its Internet strategy; the allocation of adequate shelf space for RomTech's products in major chain retail stores; successful sell-through results for RomTech's products at retail stores; downward pricing pressure; the timeliness and success of developing and selling products; the acceptance by the market of the Game Master and other Galaxy products; access to and control over distribution channels; consumers' continuing demand for value-priced software; competition; the ability to create successful strategic partnerships; and various other factors, many of which are beyond the Company's control, described in RomTech's reports, including Form 10-KSB, dated June 30, 1998, filed by RomTech with the Securities and Exchange Commission.
SOURCE: RomTech, Inc.
This one looks good to me at this price of 2 1/2. I picked up some shares this morning.
The company is increasingly profitable. There was insider buying in late 1998 and now they intend to take advantage of the internet craze.
Regards, Jeff |
