Artemis Divests ABC Tech Business; Sale of Non-Core Business Nets $420,000 in Cash.Business Editors NEWPORT BEACH, Calif.--(BUSINESS WIRE)--March 6, 2003 Artemis International Solutions Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AMSI AMSI Australian Mathematical Sciences Institute AMSI Ambient Surround Imaging AMSI Atlantic Merchant Shipping Instructions AMSI Ameritech Message Signal Interface ), one of the leading providers of enterprise portfolio, project and resource management software solutions, today announced the sale of the operations of ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. Technologies France. Proceeds from the sale of the ABC Tech business will be used to help support Artemis' core portfolio and project management business. Of the total $420,000 in proceeds, $315,000 was recognized in the fourth quarter of 2002, and $105,000 is expected to be recognized upon achieving certain milestones in 2003. The divestiture will not have a material effect on future revenues or 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 Artemis. Based in Paris, France, ABC Technologies France was managed by Artemis' French subsidiary, Artemis France, which generates approximately 11% of Artemis' total revenue. Artemis France is a major component of Artemis' extensive international distribution network, which comprises 40 offices in 27 countries. France-Telecom, Michelin, BNP-Paribas, Credit Lyonnais, Alcatel and Louis-Vuitton-Moet-Hennessy are some of the many Artemis customers in France. About Artemis International Solutions Corporation Artemis International Solutions Corporation is one of the world's leading providers of enterprise portfolio, project and resource management software solutions for all levels of the enterprise -- from the executive to the knowledge worker. Artemis' solutions are supported by industry-leading consulting services and an international distribution network of 40 offices in 27 countries. Artemis has over 500,000 users around the world, and services key vertical markets such as Aerospace and Defense, Energy & Telecom, High Technology, Pharmaceutical, Government, Automotive and Financial Services. The common stock of the company trades under the symbol "AMSI" on the OTCBB. For more information, visit www.aisc.com. Forward-Looking Statements "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 or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense Operating Expense The essential things that a company must purchase in order to maintain business. Notes: For example, the payment of employees wages are an operating expense. Also known as OPEX. reduction and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission including its Annual Report filed 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 the year ended December 31, 2001, and its quarterly reports on Form 10-Q Form 10-Q See 10-Q. . The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements or for prospective events that may have a retroactive effect. |
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