Accent Color Sciences Completes Realignment and Reorganization to Support Increased Marketing, Sales and Customer Support Capabilities.EAST HARTFORD East Hartford, urban town (1990 pop. 50,452), Hartford co., central Conn., on the Connecticut River opposite Hartford; settled c.1640, inc. 1783. East Hartford is a trucking and warehousing center, with bulk oil storage and distribution. , Conn.--(BUSINESS WIRE)--May 27, 1998--Accent Color Sciences, Inc. (Nasdaq:ACLR ACLR American Criminal Law Review (Georgetown University Law Center publication) ACLR Adjacent Channel Leakage Power Ratio ACLR Anterior Cruciate Ligament Reconstruction ACLR Amateur Cross Link Repeater ACLR Athlétic Club La Roche ), a development stage company, today announced that it has completed a realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. and reorganization of its resources consistent with the Company's evolution from its initial focus on the development of core technologies to an organization with its principal focus on sales and market development. In connection with the realignment, the Company announced that it will eliminate 32 full-time positions or some 34 percent of its employee base. The realignment and restructuring will result in a reduction of expenses thus better conserving the Company's financial resources. Charles E. Buchheit, President and Chief Executive Officer of Accent Color Sciences, Inc., stated: "Throughout the rest of this year, we will focus on identifying key market prospects and decision makers who will be the early adopters of our technology. Our sales priorities are to successfully integrate the Truecolor(TM) Systems into demanding customer production environments. We intend to provide in-depth support to these highly strategic installations so as to ensure a smooth and effortless ef·fort·less adj. Calling for, requiring, or showing little or no effort. See Synonyms at easy. ef  fort·less·ly adv. integration of Truecolor(TM) Systems. "We believe that as we build a base of proven, successful installations in demanding production sites in a variety of industries, we will be able to capture incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. sales of Truecolor(TM) Systems from these same users as well as attracting new customers. "We continue to be enthusiastic and excited about the prospects for Accent Color Sciences going forward and believe that 1999 will see the beginnings of widespread adoption of Truecolor(TM) Systems across a broad base of users, both domestically and internationally." Accent Color Sciences, Inc. designs, manufactures and sells innovative, high-speed spot color A color that is printed from one printing plate which contains one matched color of ink. Spot colors are used when only one or two solid colors are needed on a page or when a color has to match perfectly and be consistent such as with a company logo or when colors are the trademark of the printing systems - Truecolor(TM) Systems - for the production printing and production publishing segments of the printing industry. Truecolor(TM) Systems, when integrated with high-speed, digital, black-on-white printers, creates a system that prints or highlights critical information in multiple colors for large-volume applications. Such applications include billing statements, account statements, invoices, legal notices, brochures, financial reports and short-run, on-demand publications. -0- "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement Under 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: This press release contains forward looking information relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the projected timing of the introduction and shipment of the Company's products and certain other matters that involve a number of risks and uncertainties that may cause actual results to differ materially from expectations. Those risks and uncertainties include, but are not limited to: (i) the level of customer acceptance of the Company's products; (ii) the ability of the Company to develop and introduce new products; (iii) the dependence of the Company on third party suppliers for certain key technology elements; and (iv) the potential fluctuations in the Company's quarterly results of operations. Further information on factors that could cause actual results to differ from those anticipated is detailed in the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for 1997, quarterly reports on Form 10-Q Form 10-Q See 10-Q. , and other filings with the Securities and Exchange Commission. The statements contained herein express the Company's expectations only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based. Press releases and other information are available on Accent Color Sciences' World Wide Web site at http://www.accentcolor.com. CONTACT: Accent Color Sciences, Inc. Patrick Pedonti, Chief Financial Officer 860/610-4045 or Kehoe, White, Savage & Company, Inc. Van Negris / Philip J. Denning 212/396-0606 |
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