Record Contracts Signed in Jan + Feb for Zanett; Over $12 million Among 42 Customers; Healthcare Focus on Target

NEW YORK, March 4 /PRNewswire/ -- Zanett, Inc. today announced that it has set an in-house corporate record for contracts closed in the months of January and February 2010. Between the two months, over $12 million dollars in new business has been closed. This amount of revenue is comprised of 42 different customers, with the largest customer being responsible for a $4 million mandate.

HEALTHCARE FOCUS – SOFTWARE PACKAGE

Healthcare was by far the biggest segment of contracts signed for the past 2 months.  Zanett recently announced that is has jointly developed a CODS software package (Clinical Online Delivery System) to support standardized, evidence-based order sets at the point of care, arming doctors and clinicians with critical information to improve medication safety and patient care.  With this solution, physicians and nurses will be able to spend more time with patients and less time on the charting required of them in creating paper records.  

BUSINESS IS BOOMING – U.S. CAPITAL SPENDING UP

Dennis Harkins, President of Zanett, said, "All I can say is... Business is booming...!  Throughout the US, corporations are currently hesitant about hiring individuals, due to unknown and unfunded mandates from Washington DC, so they are spending their money on increased capital expenditures.  For any corporation out there, Oracle ERP and other IT spending are a natural beneficiary of a reduction in labor force.  Here at Zanett, we have 21 great people in our national salesforce, and we are currently accelerating full speed ahead, firing on all 12 cylinders."

IN-HOUSE RECORD CLOSINGS – OLD RECORD TO BE BEAT

Last quarter (Q4 2009) was a record quarter at Zanett as far as contracts closed, with over $13.7 million signed.  Zanett management believes that, at this rate, this quarter (Q1 2010) will easily overtake last quarter and be a new in-house quarterly record.

About Zanett, Inc.

Zanett is a leading business process outsourcing (BPO), IT enabled services (ITES), and information technology (IT) consulting firm serving Fortune 500 corporations and mid-market organizations in Healthcare, Life Sciences, Manufacturing & Distribution, Retail, Gaming & Hospitality, and State & Local Government.

Zanett helps organizations align business objectives with outsourced technology-enabled services to create Real Enterprise Value. We serve the Fortune 500 and mid-market organizations in Health care, Life Sciences, Manufacturing & Distribution, Retail, Gaming & Hospitality, and State & Local Government with solutions ranging from business consulting as well as custom business solutions that integrate and implement Oracle's full suite of product offerings Oracle, JD Edwards, PeopleSoft, Seibel, including infrastructure technology and managed services together with associated Oracle Fusion technologies. Zanett employs over 225 professionals in North America and Asia with offices in Atlanta, Boston, Cincinnati, Indianapolis, Jacksonville, New York City, North Palm Beach, and Manila. For more information please visit http://www.zanett.com/ or http://healthcare.zanett.com.

Certain statements in this news release regarding projected results of operations, or, projected results of financial plans or future strategies and initiatives, including, but not limited to, projections of revenue, projections of profitability, any and all future expectation, and plans for future activities may and should be regarded as "forward-looking statements'' within the meaning of the Securities Litigation Reform Act. These statements involve, among other things, known and unknown risks, uncertainties and other factors that may cause Zanett, Inc.'s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Zanett currently is considering, but in reality may or may not in the future implement any or all of the items and issues listed in any planned budget or strategic initiative, due to, among other things, known and unknown risks, uncertainties and other factors.

Circumstances do change, and if and when the landscape changes, Zanett shall endeavor to remain as flexible as possible, and adjust its strategy accordingly. Zanett, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, change in strategy, or otherwise. The aforementioned listing of risks and uncertainties is not inclusive. For a more detailed discussion of some, but not all, of the risks and uncertainties that may affect Zanett, Inc., see Zanett, Inc.'s filings with the Securities and Exchange Commission.

Neither Zanett, Inc. nor Zanett Oracle Solutions is a part of, a division of, nor a subsidiary of, nor in any other manner connected with Oracle Corporation, and no implication is made whatsoever to suggest as such.

SOURCE Zanett, Inc.