Lante Names William J. Davis Chief Financial Officer, Comments on First Quarter

Apr 02, 2001, 01:00 ET from Lante Corporation

    CHICAGO, April 2 /PRNewswire/ -- Lante Corporation (Nasdaq:   LNTE), a
 leading Internet consulting company, today announced the appointment of
 William J. Davis to chief financial officer.  Davis has served as corporate
 controller since joining the company in 1999.
     "Bill Davis has demonstrated the business insight, financial judgment and
 leadership skills to step seamlessly into the CFO role, even in this
 challenging market environment.  I look forward to his increased contributions
 to Lante's senior management team," said Rudy Puryear, president and CEO of
 Lante.  Davis replaces Brian Henry, who is leaving the company to pursue other
 opportunities in his native Northwest.
     Davis was instrumental in the successful execution of Lante's initial
 public offering in February 2000, and has played a key role in building and
 managing the company's financial operations.  Davis joined Lante following an
 accomplished career with PricewaterhouseCoopers, where he gained extensive
 capital markets experience serving major global clients in its technology
 group.  Davis, a CPA, earned his bachelor's degree in accounting from the
 University of Cincinnati.
     Lante commented on its first quarter of 2001, ended March 31.  The company
 expects revenue for the period to be approximately $12 million, which compares
 to $15 million in the prior quarter and $17.1 million in the first quarter of
 2000.  The "cash earnings" net loss (defined as net loss excluding
 amortization of deferred compensation, tax benefits and restructuring charges)
 is expected to range from $6.4 million to $7.3 million or $0.17 per share to
 $0.19 per share.
     The company's cash and investment balance at the close of the first
 quarter remains strong at approximately $73 million.
     "The market environment is extremely challenging right now," said Puryear.
 "At the same time, we are continuing to deepen our relationships with key
 Fortune 500 clients, and we are gaining traction in the market with our new
 service offerings.  We are cautiously optimistic in observing that our
 revenues in March were the strongest in the last 4 months.  In addition, we
 reduced our overall cost structure by more than 25 percent in the last quarter
 and will continue to aggressively manage our costs."
     Lante plans to issue its first quarter results after the market closes on
 Thursday, April 26, 2001.  To discuss today's announcement, Lante will host a
 conference call at 4:30 p.m. (Eastern) this afternoon, Monday, April 2, 2001.
 A live webcast of the call will be available on Lante's website,
 http://www.lante.com .
 
     About Lante
     Lante Corporation (Nasdaq:   LNTE) is a leading information technology
 consulting company focused on helping companies collaborate via the Internet
 to save money, grow revenue and build stronger, more profitable business
 relationships.  Since its inception in 1984, Lante has been an innovator in
 applying emerging technologies to business.  Headquartered in Chicago, Lante
 serves clients from offices throughout the United States.  Its web site is
 www.lante.com .
 
     "Safe Harbor" Statement under the Private Securities Litigation Reform Act
 of 1995
     This news release includes forward-looking statements that reflect Lante's
 current expectations and projections about its future results, performance,
 prospects and opportunities.  Lante has attempted to identify these
 forward-looking statements by using words such as "may," "will," "expects,"
 "anticipates," "believes," "intends," "estimates," "could" or similar
 expressions.  These forward-looking statements are based on information
 currently available to Lante and are subject to a number of risks,
 uncertainties and other factors that could cause Lante's actual results,
 performance, prospects or opportunities in 2001 and beyond to differ
 materially from those expressed in, or implied by, these forward-looking
 statements.  These risks, uncertainties and other factors include, without
 limitation:  Lante's ability to achieve or sustain profitability, Lante's
 ability to attract new clients and obtain new and expanded assignments from
 existing clients; Lante's continued work for smaller clients; demand for
 consulting services such as those offered by Lante; intense competition in the
 Internet professional services market; Lante's ability to predict revenues
 from project-based client engagements; Lante's ability to accurately estimate
 the cost, scope and duration of its engagements and to collect on amounts
 billed for such engagements; Lante's concentrated client base; Lante's ability
 to manage its expenses, quickly respond to changes in its marketplace and meet
 client expectations; the complexity of Lante's engagements and its use of new
 technology; Lante's ability to maintain its reputation and expand its name
 recognition; Lante's ability to hire and retain senior management and other
 qualified personnel; Lante's ability to effectively utilize its personnel; the
 rate of acceptance and use of the Internet as a means for commerce; Lante's
 ability to keep pace with technological changes and future regulations
 affecting its business; the implementation of the Internet generally; and
 Lante's ability to raise additional capital.  For further information about
 these and other risks, uncertainties and factors, please review the disclosure
 included in Lante's latest filings with the Securities and Exchange
 Commission, including Lante's most recent annual report on Form 10-K and its
 quarterly reports on Form 10-Q.  You should not place undue reliance on any
 forward-looking statements.  Except as required by the federal securities
 laws, Lante undertakes no obligation to publicly update or revise any forward-
 looking statements, whether as a result of new information, future events,
 changed circumstances or any other reason after the date of this news release.
 
     CONTACT:  Media, Kevin Kutz, Director of Media Relations,
 kkutz@lante.com , Investors, Todd Kobayashi, Investor Relations Manager,
 toddk@lante.com , 312-696-5279, or Industry Analysts, David Deal, Director of
 Industry Analyst Relations, 312-696-5056, ddeal@lante.com , all of Lante
 Corporation.
 
 

SOURCE Lante Corporation
    CHICAGO, April 2 /PRNewswire/ -- Lante Corporation (Nasdaq:   LNTE), a
 leading Internet consulting company, today announced the appointment of
 William J. Davis to chief financial officer.  Davis has served as corporate
 controller since joining the company in 1999.
     "Bill Davis has demonstrated the business insight, financial judgment and
 leadership skills to step seamlessly into the CFO role, even in this
 challenging market environment.  I look forward to his increased contributions
 to Lante's senior management team," said Rudy Puryear, president and CEO of
 Lante.  Davis replaces Brian Henry, who is leaving the company to pursue other
 opportunities in his native Northwest.
     Davis was instrumental in the successful execution of Lante's initial
 public offering in February 2000, and has played a key role in building and
 managing the company's financial operations.  Davis joined Lante following an
 accomplished career with PricewaterhouseCoopers, where he gained extensive
 capital markets experience serving major global clients in its technology
 group.  Davis, a CPA, earned his bachelor's degree in accounting from the
 University of Cincinnati.
     Lante commented on its first quarter of 2001, ended March 31.  The company
 expects revenue for the period to be approximately $12 million, which compares
 to $15 million in the prior quarter and $17.1 million in the first quarter of
 2000.  The "cash earnings" net loss (defined as net loss excluding
 amortization of deferred compensation, tax benefits and restructuring charges)
 is expected to range from $6.4 million to $7.3 million or $0.17 per share to
 $0.19 per share.
     The company's cash and investment balance at the close of the first
 quarter remains strong at approximately $73 million.
     "The market environment is extremely challenging right now," said Puryear.
 "At the same time, we are continuing to deepen our relationships with key
 Fortune 500 clients, and we are gaining traction in the market with our new
 service offerings.  We are cautiously optimistic in observing that our
 revenues in March were the strongest in the last 4 months.  In addition, we
 reduced our overall cost structure by more than 25 percent in the last quarter
 and will continue to aggressively manage our costs."
     Lante plans to issue its first quarter results after the market closes on
 Thursday, April 26, 2001.  To discuss today's announcement, Lante will host a
 conference call at 4:30 p.m. (Eastern) this afternoon, Monday, April 2, 2001.
 A live webcast of the call will be available on Lante's website,
 http://www.lante.com .
 
     About Lante
     Lante Corporation (Nasdaq:   LNTE) is a leading information technology
 consulting company focused on helping companies collaborate via the Internet
 to save money, grow revenue and build stronger, more profitable business
 relationships.  Since its inception in 1984, Lante has been an innovator in
 applying emerging technologies to business.  Headquartered in Chicago, Lante
 serves clients from offices throughout the United States.  Its web site is
 www.lante.com .
 
     "Safe Harbor" Statement under the Private Securities Litigation Reform Act
 of 1995
     This news release includes forward-looking statements that reflect Lante's
 current expectations and projections about its future results, performance,
 prospects and opportunities.  Lante has attempted to identify these
 forward-looking statements by using words such as "may," "will," "expects,"
 "anticipates," "believes," "intends," "estimates," "could" or similar
 expressions.  These forward-looking statements are based on information
 currently available to Lante and are subject to a number of risks,
 uncertainties and other factors that could cause Lante's actual results,
 performance, prospects or opportunities in 2001 and beyond to differ
 materially from those expressed in, or implied by, these forward-looking
 statements.  These risks, uncertainties and other factors include, without
 limitation:  Lante's ability to achieve or sustain profitability, Lante's
 ability to attract new clients and obtain new and expanded assignments from
 existing clients; Lante's continued work for smaller clients; demand for
 consulting services such as those offered by Lante; intense competition in the
 Internet professional services market; Lante's ability to predict revenues
 from project-based client engagements; Lante's ability to accurately estimate
 the cost, scope and duration of its engagements and to collect on amounts
 billed for such engagements; Lante's concentrated client base; Lante's ability
 to manage its expenses, quickly respond to changes in its marketplace and meet
 client expectations; the complexity of Lante's engagements and its use of new
 technology; Lante's ability to maintain its reputation and expand its name
 recognition; Lante's ability to hire and retain senior management and other
 qualified personnel; Lante's ability to effectively utilize its personnel; the
 rate of acceptance and use of the Internet as a means for commerce; Lante's
 ability to keep pace with technological changes and future regulations
 affecting its business; the implementation of the Internet generally; and
 Lante's ability to raise additional capital.  For further information about
 these and other risks, uncertainties and factors, please review the disclosure
 included in Lante's latest filings with the Securities and Exchange
 Commission, including Lante's most recent annual report on Form 10-K and its
 quarterly reports on Form 10-Q.  You should not place undue reliance on any
 forward-looking statements.  Except as required by the federal securities
 laws, Lante undertakes no obligation to publicly update or revise any forward-
 looking statements, whether as a result of new information, future events,
 changed circumstances or any other reason after the date of this news release.
 
     CONTACT:  Media, Kevin Kutz, Director of Media Relations,
 kkutz@lante.com , Investors, Todd Kobayashi, Investor Relations Manager,
 toddk@lante.com , 312-696-5279, or Industry Analysts, David Deal, Director of
 Industry Analyst Relations, 312-696-5056, ddeal@lante.com , all of Lante
 Corporation.
 
 SOURCE  Lante Corporation