Command Systems Reports 2000 First Quarter Results and Announces Business Strategy.Business/Technology Editors FARMINGTON, Conn.--(BUSINESS WIRE)--April 25, 2000 Command 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 :CMND CMND Command CMND Chung Minh Nhan Dan (Vietnamese Identity Card) ) an Information Systems and Technology Solutions company focused on helping customers by providing a wide range of cost-effective technology solutions and services, today reported financial results for the first quarter of 2000 and announced its business strategy. First quarter revenue declined to $5.5 million, compared to $6.9 million in the first quarter of 1999. Net loss for the first quarter was $831,000, or ($0.11) per share, compared to a net loss of $1.2 million, or ($0.16) per share in the first quarter of 1999. "Although we are disappointed with our financial results in the first quarter, we anticipated a soft quarter due to delays in new business development stemming from Y2K See Y2K problem and Y2K compliant. Y2K - Year 2000 concerns," commented Edward G. Caputo, President 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 Command Systems. "However, we continue to maintain a track record of success with our Fortune 1000 customers and have recently won significant engagements in the areas of e-business, ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. implementation and technology migration, with several new Fortune 100 customers." Business Strategy Command Systems is a technology solutions company. Our "Integrated Solution Strategy" successfully competes with the top information technology companies in the marketplace, in terms of quality, capability, price and results. Command Systems' multi-site, ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certified See certification. application development and maintenance services can support our customer's current requirements, as well as, their evolving e-business processes and information technology objectives, including: project management, e-business development, database services, consulting and application outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. . Our wholly owned Offshore Technology Resource Center in Bangalore, India, provides important competitive advantages, which include, among other things, cost savings opportunities and technical resource availability. Command Systems has invested in the specific solutions and services that our customers need, from e-business (Command e-Solutions(TM)) to the Technical Architecture Model for the Enterprise (CommandTAME(TM)), and is focused on the following industries: Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Healthcare, Consumer Goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and , Middle Market companies and Public Sector organizations. Command Systems' Integrated Solution Strategy We are evolving from pure staff augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. and Y2K services to a multifaceted mul·ti·fac·et·ed adj. Having many facets or aspects. See Synonyms at versatile. Adj. 1. multifaceted - having many aspects; "a many-sided subject"; "a multifaceted undertaking"; "multifarious interests"; "the multifarious solutions organization that can partner with customers to provide long-term solutions to their technology requirements. We seek to provide the solutions that can fulfill ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. the basic technology needs of customers in a cost-effective manner and to leverage other services that we provide, while de-emphasizing products and services that are lower margin or peripheral to basic technology capabilities. This is our Integrated Solution Strategy:
-- CommandPRO(TM) provides project management, application design and
architecture utilizing a multi-site strategy. We have built a
strong project development infrastructure to provide a cost
effective, "turn-key" or collaborative project development
capability and a template for technical architecture modeling of
the enterprise through CommandTAME(TM).
-- CommandWEB(TM) provides Internet development services to our
customers. Our expertise in this technology can develop e-commerce
capabilities or web-enable legacy programs for wider use and
leverage existing applications, through our partnership with WRQ
and its Apptrieve(TM) product suite.
-- CommandNET(TM) provides infrastructure support services that
enable Internet communications within customer organizations. Our
support of Microsoft NT and other network products and the
integration required for Lotus Notes and Novell architectures
continues to create customer demand for these services.
-- CommandDATA(TM) provides Data Warehousing, Data Analysis Cubes and
Database Administration services in support of our partnerships
with Oracle, EZData and Precise. Command Systems can also provide
"Remote DBA" capabilities from our OTRC.
-- CommandAPPS(TM) provides application design and development
utilizing the CommandTAME(TM) technical architecture model for the
enterprise and vertical support for ERP products such as: Oracle
Financials, Designer & Developer 2000; PeopleSoft; SAP; and
Adaytum.
-- CommandSOURCE(TM) provides an application maintenance and
conversion solution which is designed to free up strategic
customer resources for customer core business requirements and
service their production and development needs by utilizing a cost
reduction approach through our OTRC.
-- CommandSTAFF(TM) provides highly skilled IT professionals to
supplement or augment IT requirements on demand, as needed. This
service provides expertise ranging from client server to
traditional technology developers and help desk support. Where
possible, our OTRC can supply staff to this solution.
Technical Architecture Model for the Enterprise CommandTAME(TM) is a Technical Architecture Model for the Enterprise and presents a view of common IT components. It is a model for architectural definition produced during the design portion of application development projects and at the initial assessment phase of architecture-centric engagements. The CommandTAME(TM) artifacts artifacts see specimen artifacts. are concise tools for communicating an enterprise strategy. They quickly identify the areas where applications diverge diverge - If a series of approximations to some value get progressively further from it then the series is said to diverge. The reduction of some term under some evaluation strategy diverges if it does not reach a normal form after a finite number of reductions. from the target architecture, by giving different implementation groups a common structure. This structure allows senior IT management to redirect re·di·rect tr.v. re·di·rect·ed, re·di·rect·ing, re·di·rects To change the direction or course of. n. A redirect examination. re the design effort and to actively drive consolidation to a consistent architectural vision. The CommandTAME(TM) toolset also includes a structured artifact A distortion in an image or sound caused by a limitation or malfunction in the hardware or software. Artifacts may or may not be easily detectable. Under intense inspection, one might find artifacts all the time, but a few pixels out of balance or a few milliseconds of abnormal sound repository (1) A database of information about applications software that includes author, data elements, inputs, processes, outputs and interrelationships. A repository is used in a CASE or application development system in order to identify objects and business rules for reuse. that allows the enterprise to more efficiently manage strategic and application documentation. The potential for re-use is improved at the highest design levels, where it can have the greatest impact by driving component based business function partitioning To divide a resource or application into smaller pieces. See partition, application partitioning and PDQ. and avoiding re-invention and redundant components across projects. Command e-Solutions Recently, Command Systems announced the formation of Command e-Solutions, an e-business division of Command Systems. The entire focus of Command e-Solutions is devoted to e-business development on a national and international basis; driving business to business solutions that create a competitive edge and solve business problems for customers. This separate division will concentrate on the end-business user, have a distinct website - CommandeSolutions.com - and advertise based on the slogan A slogan is a memorable motto or phrase used in a political, commercial, religious and other context as a repetitive expression of an idea or purpose. Slogans vary from the written and the visual to the chanted and the vulgar. "Take Command of the Internet". Command e-Solutions will combine the e-business development talents of both our United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and India-based project teams to provide customers with high quality Internet technology capabilities, utilizing our multi-site development methodology that is comprehensive, efficient and cost-effective. By leveraging the success of our current customer projects and the strength of Command Systems' vendor relationships, combined with access to our onshore on·shore adj. 1. Moving or directed toward the shore: an onshore wind. 2. Located on the shore: an onshore beacon; an onshore patrol. adv. and offshore talent pool, Command e-Solutions will have a competitive advantage, both on a cost and capabilities basis. Command International Software Pvt. - Offshore Technology Resource Center Command International Software Pvt., our Bangalore, India Offshore Technology Resource Center has developed domestic (India) and international business opportunities in Australia, Japan and Singapore, in addition to U.S.-based projects sold by Command Systems. These initiatives have been developing over the past few months and have contributed to our revenue opportunities and will continue to evolve throughout the year. This center positions Command Systems strategically for international opportunities. We have also achieved ISO 9001 certification and expect to continue to refine our process throughout 2000. Our next goal is "CMM (Capability Maturity Model) A process developed by SEI in 1986 to help improve, over time, the application of an organization's supporting software technologies. " certification, which we are actively pursuing. Command International Software will continue to be a major strategic differentiating factor for Command Systems' strategy in the future. Summary The past quarter was a challenging one, primarily due to market conditions, but one of real progress in building the operations at Command Systems. We have a strong, positive management team, solid balance sheet, talented consulting staff con·sult·ing staff n. The body of specialists affiliated with a hospital who serve in an advisory capacity to the attending staff. and a focused strategic business plan. We have added strength to our Board of Directors, enhanced our capabilities in the marketplace with the acquisition of NOVA Technology and improved our project and e-business sales and marketing strategies. We have built our multi-site Integrated Solution Strategy to provide high quality, cost effective project development and maintenance services by utilizing both onshore and offshore resources. Our solutions are what our customers want and need. About Command Systems Command Systems, whose main office is in Farmington, Connecticut Farmington is a town located in Hartford County in central Connecticut in the United States. The population was 23,641 at the 2000 census. It is home to the world headquarters of several large corporations including Carrier Corporation, Otis Elevator Company, and Carvel. , was founded in 1985 and provides a wide range of information technology solutions and services, which enable e-business development. The Command Systems' Integrated Solution Strategy provides multi-site, ISO 9001 certified application development and maintenance services to customers, in support of their evolving e-business processes and information technology requirements, including: project management, e-business development, database services, consulting and application outsourcing. Command Systems maintains offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Boston, Hartford, Stamford and an Offshore Technology Resource Center in Bangalore, India. CommandPRO, CommandTAME, CommandWEB, CommandNET, CommandDATA, CommandAPPS, CommandSOURCE and CommandSTAFF are all registered trademarks of Command Systems, Inc. "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. " Statements contained in this document which are not historical fact are 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. based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
Command Systems, Inc.: 76 Batterson Park Road, Farmington, CT 06032
Tel. 860-409-2000 or 1-877-COMMAND
Web sites: http://www.CommandeSolutions.com
http://www.Commandsys.com
Command Systems, Inc.
Condensed Consolidated Statements of Income
(in thousands, except per share data)
Three Months Ended March 31,
2000 1999
Revenue $ 5,503 $ 6,932
Cost of revenue 4,047 5,366
Gross profit 1,456 1,566
Selling, general and
administrative expense 2,380 2,935
Amortization of goodwill 126 114
Loss from operations (1,050) (1,483)
Other income, net 237 268
Loss before income taxes (813) (1,215)
Income tax provision (18) --
Net loss $ (831) $(1,215)
Loss per share - basic and diluted $ (0.11) $ (0.16)
Weighted average number of
shares outstanding -
basic and diluted 7,657 7,657
Condensed Consolidated Balance Sheets
(in thousands)
March 31, December 31,
2000 1999
Current assets
Cash, cash equivalents and
marketable securities $17,173 $18,248
Accounts receivable, net 3,744 3,491
Other current assets 576 600
Total current assets 21,493 22,339
Property and equipment, net 1,445 1,569
Goodwill and other assets 6,424 6,560
Total assets $29,362 $30,468
Liabilities $ 2,838 $ 3,113
Stockholders' equity 26,524 27,355
Total liabilities and
stockholders' equity $29,362 $30,468
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