Epicor Announces Preliminary First Quarter 2001 Financial Results

Apr 03, 2001, 01:00 ET from Epicor Software Corporation

    IRVINE, Calif., April 3 /PRNewswire/ -- Epicor Software Corporation
 (Nasdaq: EPIC), a leading provider of integrated enterprise and eBusiness
 software solutions for the midmarket, today announced that based on
 preliminary information, total revenues for the first quarter 2001 are
 expected to be in the range of $44 million to $46 million, with software
 license revenues in the range of $12 million to $13 million.  Revenues were
 negatively impacted by decisions of prospective customers to delay purchases
 of enterprise and eBusiness applications as a result of capital expenditure
 and IT budget reductions fueled by general economic uncertainty and slowdown.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990503/LAM021 )
     "Within these uncertain market conditions, we will carefully review and
 take the necessary steps to realign our cost structure," said George Klaus,
 chairman and CEO.  "These steps will include a significant restructuring of
 operations that will involve a reduction in workforce and facilities.  The
 restructuring will be carried out within the next several days.  We believe
 that these actions will ensure that our business plan reflects the current
 economic realities while maintaining our goal to return the company to
 profitability.  We believe that we are in a strong position with our
 diversified portfolio of enterprise solutions and eBusiness components across
 targeted vertical industries.  This strategy allows us to focus on midmarket
 IT priorities which include rapid implementation and return on investment
 providing both our eBusiness and CRM component solutions to our large
 installed base of customers as well as our comprehensive end-to-end enterprise
 solutions to new midmarket customers."
     The company will hold a conference call today at 3:00 pm PDT for investors
 and analysts to discuss the preliminary results.  The dial-in number is
 212-271-4803.  A replay of call will be available from 8:00 am PST on April 4,
 2001 through midnight on April 5, 2001 at (800) 633-8284 or (858) 812-6440.
 On May 2, 2001, the company is scheduled to post final financial results for
 the first quarter 2001, and specific details and charges associated with the
 restructure and revised guidance for the second quarter 2001 will available at
 that time.
 
     About Epicor Software Corporation
     Founded in 1984, Epicor is a leading provider of integrated enterprise and
 eBusiness software solutions exclusively for midmarket companies.  With over
 30,000 customers, Epicor helps businesses around the world build eBusiness
 into their entire organization by integrating their systems and operations
 with the Internet to focus their entire enterprise on their customers.  By
 integrating leading edge eBusiness applications with advanced front office
 customer relationship management (CRM) applications and proven back office ERP
 applications, Epicor provides midmarket companies with the complete solution
 they need to compete in the new Internet economy.  Epicor is headquartered at
 195 Technology Drive, Irvine, California, 92618, and the main phone is
 (949) 585-4000.  More information about Epicor, its products and services is
 available at www.epicor.com.
 
     Epicor is a trademark of Epicor Software Corporation.  The product and
 service offerings depicted in this document are produced by Epicor Software
 Corporation.
 
     This release contains forward looking-statements.  In particular, the
 release includes statements about expected revenues for the first quarter
 2001, including expected software license revenues for the same period, an
 expected restructuring involving a reduction in workforce and facilities and a
 belief that the cost savings associated with the restructuring will maintain
 the Company's goal to return to profitability.  These statements involve risks
 and uncertainties and actual results may differ materially.  Such risks and
 uncertainties include but are not limited to, the effect of closing the
 accounting records for the quarter, finalization of the restructuring plans,
 assumptions regarding the current economic slowdown, which may not prove to be
 true, ability of Epicor to identify and eliminate expenses in the
 restructuring, possible fluctuations in future expenses and significant
 expenses that may need to be incurred but that are unforeseen at his time, the
 company's success in controlling costs, achieving operating results and
 margins; fluctuations in demand for the company's products, particularly in
 light of competitive offerings; the timely availability and market acceptance
 of new products and upgrades, the impact of competitive products and pricing,
 and the discovery of undetected software errors.  Other risks are discussed in
 the company's Annual report on Form 10-K, for the fiscal year ending December
 31, 2000, at pages 16-24.  As a result of these factors the business or
 prospects expected by the company as part of this announcement may not occur.
 The company undertakes no obligation to revise or update publicly any
 forward-looking statements.
 
     For further information please contact Valerie Brodie, Director, Investor
 Relations of Epicor Software Corporation, 949-585-4293, vbrodie@epicor.com.
 
 

SOURCE Epicor Software Corporation
    IRVINE, Calif., April 3 /PRNewswire/ -- Epicor Software Corporation
 (Nasdaq: EPIC), a leading provider of integrated enterprise and eBusiness
 software solutions for the midmarket, today announced that based on
 preliminary information, total revenues for the first quarter 2001 are
 expected to be in the range of $44 million to $46 million, with software
 license revenues in the range of $12 million to $13 million.  Revenues were
 negatively impacted by decisions of prospective customers to delay purchases
 of enterprise and eBusiness applications as a result of capital expenditure
 and IT budget reductions fueled by general economic uncertainty and slowdown.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990503/LAM021 )
     "Within these uncertain market conditions, we will carefully review and
 take the necessary steps to realign our cost structure," said George Klaus,
 chairman and CEO.  "These steps will include a significant restructuring of
 operations that will involve a reduction in workforce and facilities.  The
 restructuring will be carried out within the next several days.  We believe
 that these actions will ensure that our business plan reflects the current
 economic realities while maintaining our goal to return the company to
 profitability.  We believe that we are in a strong position with our
 diversified portfolio of enterprise solutions and eBusiness components across
 targeted vertical industries.  This strategy allows us to focus on midmarket
 IT priorities which include rapid implementation and return on investment
 providing both our eBusiness and CRM component solutions to our large
 installed base of customers as well as our comprehensive end-to-end enterprise
 solutions to new midmarket customers."
     The company will hold a conference call today at 3:00 pm PDT for investors
 and analysts to discuss the preliminary results.  The dial-in number is
 212-271-4803.  A replay of call will be available from 8:00 am PST on April 4,
 2001 through midnight on April 5, 2001 at (800) 633-8284 or (858) 812-6440.
 On May 2, 2001, the company is scheduled to post final financial results for
 the first quarter 2001, and specific details and charges associated with the
 restructure and revised guidance for the second quarter 2001 will available at
 that time.
 
     About Epicor Software Corporation
     Founded in 1984, Epicor is a leading provider of integrated enterprise and
 eBusiness software solutions exclusively for midmarket companies.  With over
 30,000 customers, Epicor helps businesses around the world build eBusiness
 into their entire organization by integrating their systems and operations
 with the Internet to focus their entire enterprise on their customers.  By
 integrating leading edge eBusiness applications with advanced front office
 customer relationship management (CRM) applications and proven back office ERP
 applications, Epicor provides midmarket companies with the complete solution
 they need to compete in the new Internet economy.  Epicor is headquartered at
 195 Technology Drive, Irvine, California, 92618, and the main phone is
 (949) 585-4000.  More information about Epicor, its products and services is
 available at www.epicor.com.
 
     Epicor is a trademark of Epicor Software Corporation.  The product and
 service offerings depicted in this document are produced by Epicor Software
 Corporation.
 
     This release contains forward looking-statements.  In particular, the
 release includes statements about expected revenues for the first quarter
 2001, including expected software license revenues for the same period, an
 expected restructuring involving a reduction in workforce and facilities and a
 belief that the cost savings associated with the restructuring will maintain
 the Company's goal to return to profitability.  These statements involve risks
 and uncertainties and actual results may differ materially.  Such risks and
 uncertainties include but are not limited to, the effect of closing the
 accounting records for the quarter, finalization of the restructuring plans,
 assumptions regarding the current economic slowdown, which may not prove to be
 true, ability of Epicor to identify and eliminate expenses in the
 restructuring, possible fluctuations in future expenses and significant
 expenses that may need to be incurred but that are unforeseen at his time, the
 company's success in controlling costs, achieving operating results and
 margins; fluctuations in demand for the company's products, particularly in
 light of competitive offerings; the timely availability and market acceptance
 of new products and upgrades, the impact of competitive products and pricing,
 and the discovery of undetected software errors.  Other risks are discussed in
 the company's Annual report on Form 10-K, for the fiscal year ending December
 31, 2000, at pages 16-24.  As a result of these factors the business or
 prospects expected by the company as part of this announcement may not occur.
 The company undertakes no obligation to revise or update publicly any
 forward-looking statements.
 
     For further information please contact Valerie Brodie, Director, Investor
 Relations of Epicor Software Corporation, 949-585-4293, vbrodie@epicor.com.
 
 SOURCE  Epicor Software Corporation

RELATED LINKS

http://www.epic.com