California Software Announces Q4 and Year-End 2000 Results.Business/Technology Editors IRVINE, Calif.--(BUSINESS WIRE)--April 11, 2001 California Software Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CAWC CAWC Canadian Association of Wound Care CAWC Companion Animal Welfare Council (UK) CAWC Chicago Abused Women’s Coalition CAWC Cryogenic Aerosol Wafer Cleaning ), a leader in IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Midrange migration products and developer of the award-winning BABY, Unibol and MLPS MLPS Modern Languages in the Primary School (Scottish primary education) MLPS Manual Lever Position Sensor MLPS Martin Luther Preparatory School (Prairie du Chien, Wisconsin) product lines, today announced its Q4 and year-end 2000 results. Bruce Acacio, 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 California Software was quoted as saying, "The company has endured a particularly tough year. We saw a decline in our migration business as we worked diligently to focus our attention on our newer products including BABY/GUI and baby.com. "While sales in the first three quarters were extremely slow, we achieved year-to-year growth in Q4. The combination of cost consolidation, reductions and the addition of these two products created a foundation for cost-sensitive revenue growth in Q1 2001 resulting in the second quarter of revenue growth with reduced expenses. "Even through the distractions of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and generally poor market conditions, we successfully focused on our goals of releasing new products and acquiring strategic businesses. We remain focused on continued growth with a vigilant eye on cost reductions," added Acacio. About California Software Corp. With headquarters in Irvine and offices in Richmond, Va., Belfast, Ireland and Brussels, Belgium, California Software is the worldwide leader in IBM Midrange migration software solutions and a leader in Financial Services Software. The company's products, marketed under the brand names BABY, Unibol and MLPS, support the migration of IBM AS/400 screens and applications to Windows, Unix, Linux and the Web and loan processing applications for financial institutions. California Software enjoys more than 100,000 installations in 56 countries and is in use by such customers as Caterpillar, Volvo, DHL DHL abbr. 1. Doctor of Hebrew Letters 2. Doctor of Hebrew Literature Worldwide, BMW Motors, Alliance Funding and Bancomer. This news release contains forward-looking statements relating to future events or future financial performance that involve risks and uncertainties. Such statements can usually, but not always, be identified by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "intends" or the negative of such terms or comparable terms. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including those identified in the company's filings with the SEC. Investors are cautioned that all forward-looking statements involve risks and uncertainties of the industry in which the company operates and/or proposes to operate, including without limitation, uncertainties of product sales and product development, market acceptance of the company's products, the impact of competitive products and technological innovation, product returns and defects, product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , availability of qualified personnel, dependence on third party suppliers, success or failure of strategic business alliances, acquisitions or other business combinations, new or amended laws and regulations applicable to the company, general market conditions, and other risks. These forward-looking statements are made in reliance on the "safe-harbor" 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, as amended. |
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