PlanGraphics Investor Relations Conference Call.Business Editors/High-Tech Writers FRANKFORT, Ky.--(BUSINESS WIRE)--Jan. 8, 2003 PlanGraphics, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :PGRA PGRA Plant Growth Regulator Abstracts (database) ), a designer and integrator (1) In electronics, a device that combines an input with a variable, such as time, and provides an analog output; for example, a watt-hour meter. (2) See systems integrator. of e-government solutions and spatially enabled information systems and data warehouses, hosted a conference call for shareholders and investors on January 7, 2003. Highlights of information disclosed during the conference call is presented below:
-- For fiscal 2002 the wholly owned subsidiary was profitable on a standalone basis. The net loss on a consolidated basis was the lowest in the past several years.
-- Management expects to continue to make incremental progress over fiscal 2002. While the economy has been uncertain, heightened interest in security and emergency preparedness has brought more work to the company. Increased sales and marketing activities by the company are also expected to enhance revenue.
-- Backlog and assignments at December 31, 2002 amount to approximately $19.5 million of which about $9.0 million is unfunded. The total is about $10.0 million higher than a year ago.
-- Revenue for fiscal 2003 is expected to grow about 20% over 2002. PlanGraphics expects to be profitable for fiscal 2003.
-- First quarter of fiscal 2003 results are not yet compiled. Given the number of holidays and other constraints such as the delays in initiating the recent HUD contract and in the approval of government agency appropriation bills by Congress, which affects funding to federal agencies and state and local governments, the quarter has been a challenge.
-- PlanGraphics has made significant improvement in reducing aged accounts receivable and most are expected to be current about the end of January. In addition to the payment received and reported in its Form 10-KSB, PlanGraphics has subsequently received a second significant payment from its largest customer.
-- New York City ("NYC") contract, presently valued at $15.4 million, could be worth as much as $25 to $30 million, if the customer exercises all options and renewals. State agencies in New York are also in the process of funding additional work against the NYC contract. PlanGraphics will add staffing in New York to service the contract in addition to servicing it from its existing offices. PlanGraphics expects the recent very positive article in Federal Computer World to enhance its visibility in the market place; the URL for it is http://www.fcw.com/geb/articl es/2002/1230/web-nyc-01-03-03 .asp
-- PlanGraphics' meetings with local government elected officials and managers have been well received and there is expressed interest in the Company's security and emergency preparedness service and systems capabilities. The expectation is that as fiscal 2003 federal funding for Homeland Security is finalized and flows down to state and local governments these marketing investments will bear fruit.
-- PlanGraphics has completed two significant projects in Shanghai, China, funded by the World Bank and is completing a third. It has also begun a significant project in Sechuan and expects additional awards from Sechuan Province and other locations in China during FY 2003.
PlanGraphics' President, John Antenucci, concluded, "In summary, while disappointed at failing to show positive net income we have continued to make positive strides and we are looking better than in prior years. We are well positioned for fiscal year 2003." An audio webcast of the conference call is available on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the at www.PlanGraphics.com where it will be available for 30 days. The annual report filed with the Securities and Exchange Commission is available at www.plangraphics.com or at www.sec.gov. About PlanGraphics, Inc. PlanGraphics, founded in 1979, is a full life-cycle systems integration and implementation firm that provides a broad range of services in the design and implementation of information technology in the public and commercial sectors. PlanGraphics' experience with spatial information systems and e-services capabilities provides a critical discriminator dis·crim·i·na·tor n. 1. One that discriminates. 2. Electronics A device that converts a property of an input signal, such as frequency or phase, into an amplitude variation, depending on how the signal differs from a among other IT consulting and integration firms. PlanGraphics is headquartered in Frankfort, Kentucky Frankfort is the capital of the Commonwealth of Kentucky, a state of the United States of America. It is also the county seat of Franklin County. The city has a population of 27,077 (July 2006 est.). History Gen. , and has regional offices in Maryland, Colorado, California, Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. , and 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 . For more information about the company on the Internet: www.plangraphics.com The foregoing 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. that are subject to contingencies Contingencies (ISSN 1048-9851) is the bimonthly magazine of the American Academy of Actuaries, providing a large and diverse readership with general interest and technical articles on a wide range of issues related to the actuarial profession. and uncertainties. Such forward-looking statements are not guarantees of future performance, and are based on numerous assumptions about future transactions or results that may differ materially from anticipated events, transactions or results indicated and are included in the "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. " provided by 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. |
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