Aris Divests Remaining Non-Strategic Assets for $12.0 Million; Focuses All Resources On Growing eBusiness Consulting.Business/High-Tech Editors BELLEVUE, Wash.--(BUSINESS WIRE)--Aug. 14, 2000 Aris Corporation (Nasdaq:ARSC ARSC Arctic Region Supercomputing Center ARSC Association for Recorded Sound Collections ARSC Accounting and Review Services Committee ARSC Aircraft Repair and Supply Center (USCG) ARSC Arizona Remote Sensing Center ), a provider of integrated eBusiness and enterprise application solutions, today announced it has completed the sale of its European Education European Education: Issues and Studies is a quarterly journal of education. Established in 1969, it presents contemporary issues and studies in European education. The journal includes articles on education policy, theory and practice. Its ISSN number is 1056-4934. operations to Gilat Communications, Inc. Aris will receive approximately $12 million for the assets of its U.K. Education operations, of which $7.1 million will be paid in cash and the balance in 295,454 shares of Gilat stock (Nasdaq:GICOF). "This step essentially completes the divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of our non-strategic assets and allows us to focus our management and capital resources on the growth opportunities of our eBusiness consulting solutions," said Kendall Kunz, Chief Executive Officer. "Gilat Communications will provide a terrific home for our U.K. Education operation." This division contributed approximately $3.3 million to Aris's total fiscal second quarter revenue of $20.7 million, and contributed approximately $14,000 to operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the quarter. About Aris Corporation Aris Corporation provides an integrated eBusiness solutions approach called Interactive Enterprise Relationship Management (iERM), designed to improve a company's relationships with customers, vendors, suppliers and employees by leveraging the power of the Internet. Aris has offices across the U.S. and in the United Kingdom, with over 500 employees worldwide, and is headquartered in Bellevue, WA. For more information, visit www.aris.com. About Gilat Communications, Ltd. Gilat Communications, Ltd. is a leading developer and provider of end-to-end interactive distance learning (IDL (1) (Interface Definition Language) A language used to describe the interface to a routine or function. For example, objects in the CORBA distributed object environment are defined by an IDL, which describes the services performed by the object and how the data ) solutions worldwide. TrainNet(TM), Gilat's comprehensive broadband IDL solutions allow corporations, banks, government agencies and academic institutions to create and conduct live as well as offline instructor-led or self-paced sessions utilizing personal computers, regular telephone sets, internet connections and any broadband communication channel. Gilat Communications has formed Mentergy, its USA e-learning operation, out of the merger of Allen Communication, which has been providing advanced courseware Educational software. See CBT and OpenCourseWare. (application) courseware - Programs and data used in Computer-Based Training. development services and technology-based authoring and design tools for almost 20 years to customers which include more than 60% of the Fortune 500, and the LearnLinc Corporation, the world pioneer in live, collaborate Web-based training. LearnLinc's interactive e-learning systems are used by hundreds of corporations and organizations around the world. John Bryce John Bryce (14 September 1833 – 17 January 1913) was a New Zealand politician from 1871 to 1891 and Minister of Native Affairs from 1879 to 1884. In his attitudes to Maori land questions, he favoured strict legal actions against Maori opposed to alienation, and he personally Training is Gilat's IT training and content company, and is the largest provider of IT training services in Israel and is authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: by, among other vendors, Microsoft, Novell, CA, Sun and Oracle. www.gilat.net. Statements in this press release, and elsewhere, that look forward in time or include anything other than historical information, involve risks and uncertainties that may affect the Company's actual results of operations. Statements contained in this release regarding the Company's anticipated results of operations, its eBusiness strategy, and on the Company's ability to expand its eBusiness solutions and new product releases by the Company are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ," as that phrase is defined by 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. Forward-looking statements by the Company are subject to certain risks, including future client demand for integrated eBusiness and IT solutions; competition from other businesses providing similar services to that of the Company; the Company's ability to successfully execute its business strategy and management and operational re-alignment of its consulting and training businesses; the Company's ability to attract, retain and motivate highly skilled eBusiness and IT professionals; its dependence upon key vendors of software technology; competitive pressures and lower operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: of the Company's training division and efforts to identify and execute strategic alternatives for that business; the Company's ability to successfully integrate the acquisition of fine.com; and issues that may arise in product development and possible decisions by third parties to delay or cancel the release of products under development. Those risks and uncertainties are discussed in more detail in the Company's periodic reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. . |
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