Wiltek, Inc. Reports 1996 Financial Results.

NORWALK, Conn.--(BUSINESS WIRE)--Feb. 7, 1997--Wiltek, Inc. (NASDAQ- WLTK) today announced 1996 financial results that showed a slight improvement in revenues of 1.5% when compared to the prior year. Revenues for the year were $5,004,200 compared to $4,931,100 in fiscal 1995.

The Company's net income was $90,300 for fiscal 1996 compared to a net loss of $870,000 in fiscal 1995. Fiscal 1995 results include second quarter one-time restructuring charges of $780,100, which were comprised primarily of $227,800 in employee severance costs, and $552,300 for the sale and lease-back of computer and other peripheral equipment.

Operating activities provided net cash of $194,200 for fiscal 1996 compared to $56,900 in fiscal 1995. During fiscal 1996 accounts payables was reduced by $61,100 while there was a net decrease in cash and cash equivalents of $36,600. Capital expenditures and fixed asset acquisitions under capital lease obligations totaled $300,800 for fiscal 1996.

"We look back at 1996 with satisfaction at the significant progress we, as a company, have made over the last twelve months," said David S. Teitelman, Wiltek president and CEO. "In 1997, we will continue to provide our customers with critical business solutions in a reliable, timely and cost-effective manner."

During fiscal 1996, Wiltek continued to develop its consulting and system integration organization. It is a Microsoft(R) Solution Provider (partner level) with Microsoft BackOffice(R) implementation, configuration and development expertise.

In fiscal 1997, Wiltek anticipates expanding its consulting activities into Internet- and intranet-related services. The company will continue to focus on Microsoft's Internet Information Server(R) (IIS), Proxy Server(R) and Index Server(R). It will also continue to develop its expertise in Microsoft's ActiveX Server(R) for IIS, C++, Visual scripting, ActiveX object technology and Internet Explorer(R).

With its expertise in these technologies, Wiltek will be well-positioned to assist organizations in the creation of dynamic Web sites and Web front-ends for legacy applications, and to create a new generation of business applications for the Internet and corporate intranets.

Wiltek, Inc., founded in 1947, provides disparate messaging system integration, directory synchronization, public facsimile, telex, X.400, and Internet delivery services. Wiltek is also a Microsoft Solution Provider Partner, offering consulting expertise in LAN-based and client server electronic messaging systems and work-group applications. These services for both intra- and intercompany communications are provided to customers worldwide from operations facilities in Norwalk, Connecticut, and Swindon, United Kingdom.

CONTACT: William P. Bunce 

Wiltek, Inc.

[phone]