Datatec Systems Awarded 1200 Site Deployment Contract; Projected Revenue of $2 Million in FY2003 First and Second Quarters.Business/Technology Editors FAIRFIELD, N.J.--(BUSINESS WIRE)--April 25, 2002 Datatec Systems, Inc. (Nasdaq: DATC DATC Davis Applied Technology College (Kaysville, Utah) DATC Days After Test Completion DATC Deferred Adverse Tax Consequence DATC Direct Assistance & Training Command DATC Director of Air Traffic Control ), a leading provider of technology deployment services and software tools, today announced that it has been awarded a 1200 site deployment contract through a Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. partner to implement Cisco networking technologies for a major specialty retailer of consumer electronics. The first phase of the $2.6 million project is valued at $2 million and will commence immediately. Phase I is expected to take 6 months to complete, coinciding co·in·cide intr.v. co·in·cid·ed, co·in·cid·ing, co·in·cides 1. To occupy the same relative position or the same area in space. 2. To happen at the same time or during the same period. 3. with Datatec's fiscal 2003 first and second quarters. Datatec will be handling materials logistics, and performing site survey, equipment staging, configuration, and infrastructure installation to support the implementation of Cisco routers and switches at retail locations across the continental U.S. "Our confirmed 12 month backlog entering fiscal 2003 stands at $57 million," said Isaac Gaon, Datatec's Chairman and Chief Executive Officer. "We have aggressively reduced our cost structure down to the point where Datatec will be profitable at a quarterly run rate of less than $21 million and we remain very optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op for a return to profitability right out the gate in the first quarter of fiscal 2003, which commences on May 1." About Datatec Systems, Inc. Fairfield, NJ-based Datatec Systems specializes in the rapid, large-scale market absorption of networking technologies. Datatec's deployment services utilize a software-enabled implementation model to configure See configuration. (software) configure - A program by Richard Stallman to discover properties of the current platform and to set up make to compile and install gcc. Cygnus configure was a similar system developed by K. , integrate and roll out new technology solutions using a "best practices" structured process. Its customers include Fortune 1000 companies and world-class technology providers. Datatec stock is listed on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (DATC). For more information, visit Datatec at http://www.datatec.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 Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties that may cause the actual results or objectives to be materially different from those expressed or implied by such forward-looking statements. |
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