Comfort Systems USA Announces Internet and E-Commerce Initiative With Acquisition of Outbound Services.HOUSTON--(BUSINESS WIRE)--Nov. 3, 1999-- Comfort Systems USA, Inc. (NYSE NYSE See: New York Stock Exchange : FIX), announced today the acquisition of Outbound out·bound adj. Outward bound; headed away: outbound trains. Adj. 1. outbound - that is going out or leaving; "the departing train"; "an outward journey"; "outward-bound ships" Services, an Internet-based technology Refers to the communications infrastructure of the Internet, which is based on the IP protocol. IP is part of the TCP/IP protocol suite. It may also refer to voice over IP (VoIP), which uses the Internet to make telephone calls. See VoIP, IP and TCP/IP. platform and call center designed to manage the heating ventilation and air conditioning-related services and information needs of multi-location customers. Outbound Services was a subsidiary of Tanknology-NDE International, Inc. (Nasdaq: TNDE). Terms of the transaction were not disclosed. "Outbound Services is one of the most significant strategic acquisitions Comfort Systems USA has completed to date and brings us an Internet and e- commerce platform with value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. services that we need to more effectively serve national accounts," commented Fred Ferreira, Chairman and Chief Executive Officer of Comfort Systems USA. Through the acquisition of Outbound Services, Comfort Systems USA is well-positioned to offer expanded, turnkey service capabilities including: - Real-time Internet access See how to access the Internet. on the status of service activities. - An Internet portal providing a powerful data warehouse of information on equipment, energy and facility costs. - One verified bill encompassing all building locations. - E-commerce capability for both customer interface and Comfort network operations including service delivery and procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. . - An 800 number providing a single point of contact for multi-location customers. - Trained operators capable of troubleshooting and dispatching service personnel nationwide 24 hours a day, seven days a week. - One-stop shopping and a consistent level of service. Gary Hess, Comfort Systems USA's Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , added, "The acquisition of Outbound Services provides our national network of companies with leading edge, web-based customer service and support. By delivering a comprehensive system including a call center and Internet accessible invoice, data and management services, we are directly responding to the needs and requests of the multi-location property owners." Mr. Ferreira continued, "Outbound's Internet and e-commerce capabilities are an important investment for Comfort Systems USA as we expand our leadership in serving regional and national accounts. We expect this investment will have a dilutive effect Dilutive effect Result of a transaction that decreases earnings per common share (EPS). on earnings per share of approximately $0.03 in the fourth quarter and approximately $0.03 in the first half of 2000 as we integrate Outbound with our service network, although we expect the full year impact for 2000 to be neutral. With our investment in Outbound, we expect to see exciting progress in our multi-location strategy in 2000." Jim Law, President of Outbound Services, added, "Joining forces with Comfort Systems USA presents Outbound Services with a tremendous opportunity to respond to the growing demand of multi-location accounts for a seamless, single-source, e-commerce solution. Outbound's strong, Internet-based systems and service management experience enables Comfort Systems to further capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. its national network of companies and meet the needs of current and potential customers." Comfort Systems USA is a premier provider of business solutions addressing workplace comfort, environments, processes and energy services, with more than 120 locations in 86 cities around the nation. Comfort Systems USA has annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues of approximately $1.4 billion and is based in Houston. For more information, visit the Company's web-site at www.comfortsystemsusa.com. This press release contains 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. within the meaning 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. These statements are based on the current plans and expectations of Comfort Systems USA, Inc. and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, among others, risks associated with competition, economic conditions, costs, acquisitions, variations in stock prices, changes in government regulations, and risks entailed in operations and growth of newly acquired businesses and other risks detailed in the Company's reports filed with the Securities and Exchange Commission. |
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