Axeda Systems Chairman and CEO Robert M. Russell Jr. is Interviewed by CEOcast.Business Editors/Hi-Tech Writers MANSFIELD, Mass.--(BUSINESS WIRE)--Oct. 30, 2002 Axeda Systems Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :XEDA), the leading provider of Device Relationship Management (DRM (1) (Digital Radio Mondiale) A digital audio broadcasting (DAB) system for AM radio in Europe. See HD Radio. (2) (Digital Rights M ) enterprise software and services, today announced that Robert M. Russell Jr., Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Axeda, is featured this afternoon in an interview conducted by CEOcast, a major on-line financial portal Financial Portal A website that provides a variety of financial data and information, acting as an information hub for clients who are individual investors requiring timely financial news and data to make their investment decisions. . The interview is currently available at www.ceocast.com. Topics of discussion during the interview include an overview of Axeda Systems and the DRM market opportunity and an update on the Company's current customer relationships and future business outlook. In addition, Mr. Russell provided highlights of the Company's recent third quarter financial results which included sequential revenue growth of 23 percent and a reduction in its operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of 40 percent. The Company reiterated its revenue projections of $17 million - $18 million for 2002, with projected cash at year-end to be approximately $20 million. About Axeda Axeda Systems Inc. (NASDAQ:XEDA) is the leading provider of device relationship management (DRM) enterprise software and services. Axeda helps businesses become more competitive by using the Internet to extract real-time information hidden in their intelligent devices. The Company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , the Axeda Device Relationship Management System(TM), is a distributed software solution that lets businesses remotely monitor, manage and service intelligent devices, deployed around the world, allowing them to optimize their service, development, sales and manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. . Axeda customers are Global 2000 companies in many markets including Medical Instrumentation, Enterprise Technology, Printer and Copier, Industrial and Building Automation, and Semiconductor Equipment industries. Axeda has sales and service offices in the US, Europe and Japan, and distribution partners worldwide. More information about Axeda is available at www.axeda.com. About Device Relationship Management Everyday intelligent devices such as copiers, elevators, vending machines, building control units, medical devices, computers and storage systems, and industrial machines are an important new source of business information. Device relationship management systems allow companies to tap into this valuable information anytime anywhere. Pioneered by Axeda, device relationship management technology provides a distributed information management system that leverages the Internet to allow timely, accurate, and unbiased information to be communicated automatically between intelligent devices, wherever they are deployed around the world, and service personnel or enterprise business systems. Device relationship management helps turn reactive businesses into proactive businesses providing new sources of revenue, increased operational efficiency and lower costs, with an ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). that is often measured in months. (c)2002 Axeda Systems. All rights reserved. Axeda, Axeda Systems, Axeda DRM, Axeda Device Relationship Management System, Axeda Agents, Axeda Applications, Axeda Enterprise, Axeda Supervisor, Automatic eCommerce, Firewall-Friendly, and Access. Insight. In Real Time. are trademarks of Axeda Systems. DRM Leadership Alliance, DRM Leadership Forum, DRM Leadership Council, and DRM Integration Program are service marks of Axeda Systems. The Axeda logo and stylized styl·ize tr.v. styl·ized, styl·iz·ing, styl·iz·es 1. To restrict or make conform to a particular style. 2. To represent conventionally; conventionalize. bitstream design are trademarks of Axeda Systems. All other trademarks are either property of Axeda Systems or property of their respective owners. This press release contains certain forward-looking statements that are intended to be covered by 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. Such statements are based on current expectations of future events that involve a number of risks and uncertainties that may cause the actual events of future results to differ from those discussed herein. Such factors include, but are not limited to: the transition in businesses we are currently undergoing; fluctuating quarterly operating results; uncertainties in the market for DRM systems and the potential for growth in the DRM market; declining sales of our legacy products; the current economic slowdown and our dependence on the cyclical software industry; present and future competition; our ability to manage technological change and respond to evolving industry standards; our ability to manage growth and attract and retain additional personnel; the long sales cycle for DRM systems; our customers' ability to implement or integrate our DRM solutions successfully and in a timely fashion, receive expected functionality and performance, or achieve benefits attributable to our DRM solutions; limited distribution channels; dependence on strategic partners; the difficulty of protecting proprietary rights; the potential for defects in products; claims for damages asserted against us; our ability to raise capital; the potential for NASDAQ delisting if the trading price Trading price The price at which a security is currently selling. of our stock remains below $1.00; and risks from international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. . In addition, such forward-looking statements are necessarily dependent upon assumptions, estimates and dates that may be incorrect or imprecise and involve known and unknown risks and other factors. Accordingly, any forward-looking statements do not purport to be predictions of future events or circumstances and may not be realized. Investors are advised to read Axeda Systems' 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. , quarterly reports on Form 10-Q Form 10-Q See 10-Q. and periodic reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed with the Securities and Exchange Commission, particularly those sections entitled "Factors That May Affect Future Results" and "Risk Factors" for a more complete discussion of these and other risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update or otherwise release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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