Xenos to Report Lower Than Expected Second Quarter Sales

Apr 04, 2001, 01:00 ET from Xenos Group Inc.

    TORONTO, April 4 /PRNewswire/ - Xenos (TSE:XNS), the data to e-content
 company(TM), has announced that revenues for its second quarter ended March
 31, 2001 will be lower than expected. The preliminary management estimate is
 $2.6 million, compared with $3.7 million for the same period last year. The
 Company's cash position, however, remains strong as a result of its lean
 infrastructure, stringent cost controls and prudent balance sheet management.
     While Xenos' business pipeline remains healthy, performance this quarter
 has been negatively impacted by a general economic slowdown, which has led to
 a deferral of some technology projects and an unusual number of blue-chip
 customers not finalizing contracts with the Company before quarter end.
     Glen Manchester, Xenos' President and C.E.O., said: "Given the current
 economic climate, we believe our strategy of creating strategic alliances with
 industry leading providers of e-business solutions to grow our revenues is
 further validated. These partners and their bricks-and-mortar customers will
 benefit from Xenos' component-based software, which will significantly reduce
 the time and cost of web-enabling customer information such as statements and
 bills. We're in this for the long term and our strong cash balance together
 with our strategy of stringent cost controls and forthcoming product releases
 puts us in a better position than many software companies."
     The Company will announce its full quarter results in mid-May, at which
 time management will hold a conference call to discuss its outlook on the
 balance of the year.
 
     About Xenos
 
     Xenos is a world leader in developing software that enables 'clicks and
 mortar' companies to rapidly produce online bills and statements without the
 need to redevelop their systems. Our software transforms legacy data and
 printstreams into e-business applications, allowing organizations to benefit
 from fast time to market and maximum return on investment. Xenos' robust and
 proven solutions are deployed at over 100 blue-chip companies, including
 American Express, Bank One and Wells Fargo. Xenos has partnerships with
 leading e-business software companies, including IBM, iPlanet E-Commerce
 Solutions, and ZixIt Corp. Headquartered in Toronto, Canada, Xenos is a public
 company listed on the Toronto Stock Exchange (TSE:XNS), and has global sales,
 professional services, product development, customer support and marketing
 operations.
     This press release contains forward-looking statements based on current
 expectations. These forward-looking statements entail various risks and
 uncertainties that could cause actual results to differ materially from those
 reflected in these forward-looking statements. Risks and uncertainties about
 the Company's business are more fully discussed in the Management Discussion
 and Analysis published in the Company's annual report.
 
 

SOURCE Xenos Group Inc.
    TORONTO, April 4 /PRNewswire/ - Xenos (TSE:XNS), the data to e-content
 company(TM), has announced that revenues for its second quarter ended March
 31, 2001 will be lower than expected. The preliminary management estimate is
 $2.6 million, compared with $3.7 million for the same period last year. The
 Company's cash position, however, remains strong as a result of its lean
 infrastructure, stringent cost controls and prudent balance sheet management.
     While Xenos' business pipeline remains healthy, performance this quarter
 has been negatively impacted by a general economic slowdown, which has led to
 a deferral of some technology projects and an unusual number of blue-chip
 customers not finalizing contracts with the Company before quarter end.
     Glen Manchester, Xenos' President and C.E.O., said: "Given the current
 economic climate, we believe our strategy of creating strategic alliances with
 industry leading providers of e-business solutions to grow our revenues is
 further validated. These partners and their bricks-and-mortar customers will
 benefit from Xenos' component-based software, which will significantly reduce
 the time and cost of web-enabling customer information such as statements and
 bills. We're in this for the long term and our strong cash balance together
 with our strategy of stringent cost controls and forthcoming product releases
 puts us in a better position than many software companies."
     The Company will announce its full quarter results in mid-May, at which
 time management will hold a conference call to discuss its outlook on the
 balance of the year.
 
     About Xenos
 
     Xenos is a world leader in developing software that enables 'clicks and
 mortar' companies to rapidly produce online bills and statements without the
 need to redevelop their systems. Our software transforms legacy data and
 printstreams into e-business applications, allowing organizations to benefit
 from fast time to market and maximum return on investment. Xenos' robust and
 proven solutions are deployed at over 100 blue-chip companies, including
 American Express, Bank One and Wells Fargo. Xenos has partnerships with
 leading e-business software companies, including IBM, iPlanet E-Commerce
 Solutions, and ZixIt Corp. Headquartered in Toronto, Canada, Xenos is a public
 company listed on the Toronto Stock Exchange (TSE:XNS), and has global sales,
 professional services, product development, customer support and marketing
 operations.
     This press release contains forward-looking statements based on current
 expectations. These forward-looking statements entail various risks and
 uncertainties that could cause actual results to differ materially from those
 reflected in these forward-looking statements. Risks and uncertainties about
 the Company's business are more fully discussed in the Management Discussion
 and Analysis published in the Company's annual report.
 
 SOURCE Xenos Group Inc.