AremisSoft Wins Contracts Valued at $500,000 With India Army; Sale of Accounting and Document Management Applications Lay Groundwork for Future Business.Business Editors NEW YORK--(BUSINESS WIRE)--March 13, 2001 AremisSoft Corporation (Nasdaq:AREM AREM All-Random Easy Mode (gaming, Dota Allstars) AREM Avian Richness Evaluation Method ) an international supplier of enterprise-wide software and Internet-enabled solutions for the manufacturing, hospitality, healthcare and construction industries, today announced two orders totaling $500,000 with the Indian Army This article is about the post-independence Indian Army. For the Indian Army under British rule, see British Indian Army. The Indian Army is one of the armed forces of India and has responsibility for land-based military operations. . AremisSoft (India) signed an initial 300 license contract for its Account-21 accounting system. The total application requirement is expected to be approximately 3000 licenses. The Indian Army plans to procure To cause something to happen; to find and obtain something or someone. Procure refers to commencing a proceeding; bringing about a result; persuading, inducing, or causing a person to do a particular act; obtaining possession or control over an item; or making a person the remaining licenses in stages over a one year period. The total contract value is expected to be approximately $2.5 million. AremisSoft (India) also signed a contract with the Indian Army to implement the AREMIS workflow and document management suite -- Cascade-Active-File-Cabinet (CAFC CAFC Court of Appeals for the Federal Circuit CAFC Canada Firearms Centre CAFC US Court of Appeals for the Federal Circuit CAFC Charlton Athletic Football Club (UK) CAFC Canadian Association of Fire Chiefs ). The present order is a 4-server license with the total requirement of 100-servers expected to be purchased within one year. Projected revenue from the total contract is $3.75 million. Both AremisSoft products were customized and field-tested by the Indian Army before the contracts were awarded. Encouraged by the functionality and utility of these products, the Indian Army is currently evaluating other products from the AremisSoft product portfolio for applications in Healthcare, ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. and other Army specific applications. M C Mathews, President of the Emerging Markets Group, stated, "These orders validate AremisSoft as a key supplier to the Indian IT industry, offering highly competitive and technologically advanced products, as well as complimentary services and support. Each order represents repeat business confirming the value, flexibility, and functionality of the AremisSoft product portfolio." About Account 21 Account 21 (Army Version) is a financial accounting package customized to handle Regimental Accounts of an Army Unit. All reports have been modified to conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" the Regimental accounting needs of the Indian Army. About Cascade-Active-File-Management Cascade-Active-File-Management is a highly secure Intranet solution to handle electronic File Handling, Workflow, Document Management and Mailing requirements. CAFC supports Digital Signatures and Digital Encryption The reversible transformation of data from the original (the plaintext) to a difficult-to-interpret format (the ciphertext) as a mechanism for protecting its confidentiality, integrity and sometimes its authenticity. Encryption uses an encryption algorithm and one or more encryption keys. (X.509 standard) to handle Data Security. CAFC has a simple user interface (Browser or Lotus Notes Messaging and groupware software from IBM Lotus that was introduced in 1989 for OS/2 and later expanded to Windows, Mac, Unix, NetWare, AS/400 and S/390. Notes provides e-mail, document sharing, workflow, group discussions and calendaring and scheduling. Clients). It can manage the communication process from receipt of a letter (Via Mail, email, Signal or FAX) to message dispatch, controlling the entire process with robust enterprise workflow. CACF CACF Central Alarm and Control Facilities CACF Case Assignment Control File has very powerful full text search capability, which does not need any keywords to be stored/keyed to search for relevant information; as it indexes the entire document. About AremisSoft Corporation AremisSoft develops, markets, implements and supports enterprise-wide applications software targeted at mid-sized organizations in the manufacturing, healthcare, hospitality and construction industries. The Company's software products help streamline and enhance an organization's ability to manage and execute mission-critical functions such as accounting, purchasing, manufacturing, customer service and sales and marketing. AremisSoft reported total revenue of $123.6 million for the twelve months ended December 31, 2000 and pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma net income of $29.2 million for the same period. AremisSoft has approximately 860 employees, with sales in over 20 countries and a customer base in excess of 7,300. The Company also operates a software development and support facility in India, with over 325 employees, which provides significant organizational efficiencies and cost advantages in software development and support. Cautionary Statement for Purposes of the "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. " Provisions of 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: All statements, other than historical facts, included in the foregoing press release regarding the Company's financial position, business strategy, and plans of management for future operations are "forward looking statements." These statements are based on management's beliefs and assumptions, and on information currently available to management. Forward looking statements include, but are not limited to, statements in which words such as "expect," "see," "anticipate," "intend," "plan," "believe," "estimate," "consider," or similar expressions are used. Forward looking statements are not guarantees of future performance. They involve risks, uncertainties, and assumptions, including risks discussed under "Risk Factors" 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. , SEC File No. 0-25713, all of which are incorporated herein by reference. The Company's actual results and stockholder values may differ materially from those anticipated or expressed in these forward looking statements. Many of the factors that will determine these results and values are beyond the Company's ability to control or predict. Readers of this press release are cautioned not to put undue reliance on any forward looking statement. The Company undertakes no obligation to publicly update these forward looking statements, whether as a result of new information, future events or otherwise. |
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