Breakaway Solutions Announces Delayed Filing of Annual Report on Form 10-K

Apr 17, 2001, 01:00 ET from Breakaway Solutions, Inc.

    PHILADELPHIA, April 17 /PRNewswire/ -- Breakaway Solutions, Inc.
 (Nasdaq:   BWAY), today reported that it does not expect to file its Annual
 Report and 10-K on April 17, 2001 in order to ensure proper factoring of
 recent restructuring and changes within the company.  The changes include a
 new CEO, a new chairman of the board of directors, and closing of a round of
 financing.  All of these changes have been previously announced.  The NASDAQ
 has been notified of this delay.
     The company still expects to release first quarter 2001 earnings by May
 15, 2001.
 
     About Breakaway Solutions
     Breakaway Solutions, Inc. (Nasdaq:   BWAY) is the #1 Global Full Service
 Provider (FSP) specializing in defining, creating, and operating sustainable
 digital businesses for Global 3000 collaborative e-business enterprises
 through strategy, implementation, and application hosting services.
 Headquartered in Philadelphia, PA, Breakaway Solutions has a network of
 regional offices and Solutions Centers in major cities across the U.S. and in
 Europe, as well as 11 Application Hosting facilities in North America, Europe,
 Asia and Australia.  Breakaway Solutions can be reached at 978/461-7800 or at
 www.breakaway.com.
 
     Except for the historical information contained in this announcement, the
 matters discussed in this announcement are "forward-looking statements" (as
 that term is used in the Private Securities Litigation Reform Act of 1995)
 that involve risks and uncertainties, including risks relating to the
 attractiveness of Breakaway's Full Service Provider model to its current and
 prospective customers, likely variations in quarterly revenues and operating
 results, the ability to realize benefits from acquisitions and strategic
 alliances, risks in conducting business outside the United States, the
 adoption and acceptance of application hosting services by growing
 enterprises, personnel and customer retention, ability to raise additional
 capital, equity dilution, business change, product acceptance and customer
 demand, variation in quarterly results, competition, and growth management
 detailed from time-to-time in Breakaway Solutions, Inc.'s filings with the
 Securities and Exchange Commission.  Breakaway Solutions, Inc. draws the
 reader's attention to the factors described in its Quarterly Report on Form
 10-Q for the Period Ended Sept. 30, 2000 under the heading "Factors That May
 Affect Future Results."  Any such forward-looking statements speak only as of
 the date such statements are made, and the company undertakes no obligation to
 publicly release the results of any revision to these forward-looking
 statements or otherwise update or supplement this announcement or the risk
 factors contained in its filings with the Securities and Exchange Commission.
 
      Joanna Bolles
      Breakaway Solutions, Inc.
      jbolles@breakaway.com
      978-461-7800
 
 

SOURCE Breakaway Solutions, Inc.
    PHILADELPHIA, April 17 /PRNewswire/ -- Breakaway Solutions, Inc.
 (Nasdaq:   BWAY), today reported that it does not expect to file its Annual
 Report and 10-K on April 17, 2001 in order to ensure proper factoring of
 recent restructuring and changes within the company.  The changes include a
 new CEO, a new chairman of the board of directors, and closing of a round of
 financing.  All of these changes have been previously announced.  The NASDAQ
 has been notified of this delay.
     The company still expects to release first quarter 2001 earnings by May
 15, 2001.
 
     About Breakaway Solutions
     Breakaway Solutions, Inc. (Nasdaq:   BWAY) is the #1 Global Full Service
 Provider (FSP) specializing in defining, creating, and operating sustainable
 digital businesses for Global 3000 collaborative e-business enterprises
 through strategy, implementation, and application hosting services.
 Headquartered in Philadelphia, PA, Breakaway Solutions has a network of
 regional offices and Solutions Centers in major cities across the U.S. and in
 Europe, as well as 11 Application Hosting facilities in North America, Europe,
 Asia and Australia.  Breakaway Solutions can be reached at 978/461-7800 or at
 www.breakaway.com.
 
     Except for the historical information contained in this announcement, the
 matters discussed in this announcement are "forward-looking statements" (as
 that term is used in the Private Securities Litigation Reform Act of 1995)
 that involve risks and uncertainties, including risks relating to the
 attractiveness of Breakaway's Full Service Provider model to its current and
 prospective customers, likely variations in quarterly revenues and operating
 results, the ability to realize benefits from acquisitions and strategic
 alliances, risks in conducting business outside the United States, the
 adoption and acceptance of application hosting services by growing
 enterprises, personnel and customer retention, ability to raise additional
 capital, equity dilution, business change, product acceptance and customer
 demand, variation in quarterly results, competition, and growth management
 detailed from time-to-time in Breakaway Solutions, Inc.'s filings with the
 Securities and Exchange Commission.  Breakaway Solutions, Inc. draws the
 reader's attention to the factors described in its Quarterly Report on Form
 10-Q for the Period Ended Sept. 30, 2000 under the heading "Factors That May
 Affect Future Results."  Any such forward-looking statements speak only as of
 the date such statements are made, and the company undertakes no obligation to
 publicly release the results of any revision to these forward-looking
 statements or otherwise update or supplement this announcement or the risk
 factors contained in its filings with the Securities and Exchange Commission.
 
      Joanna Bolles
      Breakaway Solutions, Inc.
      jbolles@breakaway.com
      978-461-7800
 
 SOURCE  Breakaway Solutions, Inc.