Bell Tech.logix Announces Change in Outsourcing and Product Engagement.EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and , Calif. -- Bell Tech.logix Group (BTL BTL Between the Lines BTL Battle BTL Bottle BTL Buy To Let BTL Below The Line (advertising) BTL Biomass-to-Liquids BTL Bubba the Love Sponge BTL Between the Lions (PBS children's TV show) ), an operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon of Bell Industries, Inc. (AMEX AMEX See: American Stock Exchange :BI), today said its largest customer, Philip Morris USA Philip Morris USA is the United States tobacco division of Altria Group, Inc. General information On January 27, 2003, Philip Morris Companies Inc. changed its name to Altria Group, Inc. Even under this new name, Altria continues to own 100% of Philip Morris USA. , indicated to BTL its intention to transition certain outsourcing services and product sales provided by BTL to a new vendor on or before the contract termination Defense procurement: the cessation or cancellation, in whole or in part, of work under a prime contract or a subcontract thereunder for the convenience of, or at the option of, the government, or due to failure of the contractor to perform in accordance with the terms of the contract (default). date of April 2006. BTL said the portion of the engagement covered by this contractual relationship generated approximately $2 million in services revenue and $800,000 in product sales for BTL during the first quarter ended March 31, 2005. For the full year ended December 31, 2004, services revenue from this portion of the engagement totaled approximately $8 million and product revenue amounted to $10 million, of which $6.9 million was related to one large product deployment project. Russell A. Doll, president of BTL and acting chief executive officer of Bell Industries, said the company is awaiting the final determination of the details of the transition, including the timing of the transition, pending the customer's discussions with its new vendor. BTL offers a comprehensive portfolio of technology products and managed lifecycle services, including planning, product sourcing, deployment and disposal, and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . Support services include help desk support, desk side support, technical maintenance services, and reverse logistics and depot services. Through other operating units, Bell distributes after-market parts and accessories to the recreational vehicle market and manufactures and sells standard and custom magnetic components used in electronic applications for computer, medical, lighting and telecommunication equipment. Certain matters discussed in this news release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from current trends. These include, but are not limited to, the intention, timing and impact of BTL's largest customer to transition certain services and product sales to a new vendor, and other factors described in the company's public filings from time to time. |
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