Metro Information Services, Inc. Expects First Quarter Cash EPS of $0.07 to $0.08

Apr 17, 2001, 01:00 ET from Metro Information Services, Inc.

    VIRGINIA BEACH, Va., April 17 /PRNewswire/ -- METRO INFORMATION SERVICES,
 INC. (Nasdaq:   MISI), an information technology consulting services and
 solutions company, today announced that first quarter results are expected to
 show revenue of $78 to $79 million and $0.07 to $0.08 of diluted earnings per
 share before amortization of goodwill net of tax effects ("Cash EPS").
 Diluted earnings per share is expected to be approximately $0.04 to $0.05.
     Management believes the shortfall in earnings reflects the general
 slowdown in the U.S. economy and sluggish IT spending.  In particular,
 weakness among clients in the telecom and financial services industries is
 affecting Metro's first quarter results.  Metro is carefully monitoring its
 revenue and costs and adjusting costs to reflect the slowdown in economic
 conditions.
     Due to the shortfall in first quarter results, Metro is withdrawing the
 full year earnings guidance it provided in its February 6, 2001 news release,
 as those results no longer appear achievable.  The Company does not expect to
 issue new full year guidance until economic conditions change enough to make
 future earnings estimates more predictable.
     The Company will provide more information on its first quarter results
 during its April 26, 2001, conference call with analysts.  Anyone may listen
 to the call, but only recognized analysts will be allowed to ask questions.
 The call is available by calling (800) 298-9646, Passcode: 8658437.  The call
 will start at 9 a.m. EDT, Thursday, April 26, 2001.
     A replay of the Company's telephone conference with analysts will be
 available via telephone from 12 p.m. EDT April 26, 2001 through 11:59 p.m. EDT
 May 6, 2001 by calling (402) 220-2491, Passcode: 8658437.  The call will also
 be available on Metro's website, http://www.MetroIS.com .
 
     For more than 21 years, Metro Information Services, Inc. has provided a
 wide range of information technology consulting services and solutions in the
 United States and Puerto Rico.  Metro's services include application systems
 development and maintenance, information technology architecture and
 engineering, systems consulting, project outsourcing and general information
 technology support services.  Metro consultants work on all major technology
 platforms including the rapidly growing e-Business area.  The Company
 emphasizes long-term relationships with its clients rather than one-time
 projects or assignments. Metro generated revenues of $314 million in 2000 from
 a wide variety of industries.  More information is available on the Web at
 http://www.MetroIS.com and through Metro's Investor Relations Department.
 
     Certain matters discussed in this news release are forward-looking
 statements as defined in the Private Securities Litigation Reform Act of 1995.
 All statements made in this news release, other than those consisting solely
 of historical facts, that address events or developments that the Company
 expects or anticipates will or may occur in the future, such as management's
 expectations regarding first quarter revenue, diluted earnings per share and
 Cash EPS are forward-looking statements. These forward-looking statements are
 subject to a number of known and unknown risks and uncertainties.  The Company
 assumes no obligation to update these forward-looking statements to reflect
 actual results, changes in assumptions or changes in other factors affecting
 such forward-looking statements. Please refer to a discussion of these and
 other factors in the Company's most recent Form 10-K, Form 10-Q and other
 documents filed with the Securities and Exchange Commission.
 
 

SOURCE Metro Information Services, Inc.
    VIRGINIA BEACH, Va., April 17 /PRNewswire/ -- METRO INFORMATION SERVICES,
 INC. (Nasdaq:   MISI), an information technology consulting services and
 solutions company, today announced that first quarter results are expected to
 show revenue of $78 to $79 million and $0.07 to $0.08 of diluted earnings per
 share before amortization of goodwill net of tax effects ("Cash EPS").
 Diluted earnings per share is expected to be approximately $0.04 to $0.05.
     Management believes the shortfall in earnings reflects the general
 slowdown in the U.S. economy and sluggish IT spending.  In particular,
 weakness among clients in the telecom and financial services industries is
 affecting Metro's first quarter results.  Metro is carefully monitoring its
 revenue and costs and adjusting costs to reflect the slowdown in economic
 conditions.
     Due to the shortfall in first quarter results, Metro is withdrawing the
 full year earnings guidance it provided in its February 6, 2001 news release,
 as those results no longer appear achievable.  The Company does not expect to
 issue new full year guidance until economic conditions change enough to make
 future earnings estimates more predictable.
     The Company will provide more information on its first quarter results
 during its April 26, 2001, conference call with analysts.  Anyone may listen
 to the call, but only recognized analysts will be allowed to ask questions.
 The call is available by calling (800) 298-9646, Passcode: 8658437.  The call
 will start at 9 a.m. EDT, Thursday, April 26, 2001.
     A replay of the Company's telephone conference with analysts will be
 available via telephone from 12 p.m. EDT April 26, 2001 through 11:59 p.m. EDT
 May 6, 2001 by calling (402) 220-2491, Passcode: 8658437.  The call will also
 be available on Metro's website, http://www.MetroIS.com .
 
     For more than 21 years, Metro Information Services, Inc. has provided a
 wide range of information technology consulting services and solutions in the
 United States and Puerto Rico.  Metro's services include application systems
 development and maintenance, information technology architecture and
 engineering, systems consulting, project outsourcing and general information
 technology support services.  Metro consultants work on all major technology
 platforms including the rapidly growing e-Business area.  The Company
 emphasizes long-term relationships with its clients rather than one-time
 projects or assignments. Metro generated revenues of $314 million in 2000 from
 a wide variety of industries.  More information is available on the Web at
 http://www.MetroIS.com and through Metro's Investor Relations Department.
 
     Certain matters discussed in this news release are forward-looking
 statements as defined in the Private Securities Litigation Reform Act of 1995.
 All statements made in this news release, other than those consisting solely
 of historical facts, that address events or developments that the Company
 expects or anticipates will or may occur in the future, such as management's
 expectations regarding first quarter revenue, diluted earnings per share and
 Cash EPS are forward-looking statements. These forward-looking statements are
 subject to a number of known and unknown risks and uncertainties.  The Company
 assumes no obligation to update these forward-looking statements to reflect
 actual results, changes in assumptions or changes in other factors affecting
 such forward-looking statements. Please refer to a discussion of these and
 other factors in the Company's most recent Form 10-K, Form 10-Q and other
 documents filed with the Securities and Exchange Commission.
 
 SOURCE  Metro Information Services, Inc.