5B Technologies Announces Select Financial Projections For The Years 2001-2003.Business Editors WOODBURY, NY--(BUSINESS WIRE)--February 1, 2001 Glenn Nortman, Chief Executive Officer of 5B Technologies Corporation (Nasdaq: FIVE), announced, before a group of the investment community, certain projected financial results for the years 2001-2003. Mr. Nortman stated that "based on a combination of internal growth and acquisitions we expect revenues to rise from last year's approximate level of $21.5 million to approximately $50.0 million in 2003. We further estimate that gross profit will rise from the current level of 30% to a target of approximately 45% by the year 2003 and that net earnings will be approximately $1.20 per share by the year 2003." Mr. Nortman continued, "We believe that the diverse nature and the quality of our client base together with our high level of expertise as an IT professional consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a gives us an excellent opportunity to grow significantly over the next three years. It is our intention to continue the organic growth of our business in the professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. area, which affords the Company the gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. we seek. We will continue to review opportunities for external growth, when we find a compelling strategic and accretive fit with 5B." About 5B Technologies Corporation 5B Technologies Corporation is a comprehensive business solutions provider, offering customers a wide range of integrated services, including customized design and development of Internet infrastructure and commerce solutions, information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. , local area network and web site security, systems integration and staffing services. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations through either acquisitions or internal growth, to attract and retain qualified professionals, and to expand commercial and investment banking relationships as both a source of funding and stock support; the availability of computer equipment; technological obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. ; general economic conditions; and other risks detailed time to time in the Company's filings with the Securities and Exchange Commission (SEC). This release is available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide web site at www.kcsa.com |
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