OHIO - Symix Announces Preliminary 3rd Quarter Financial Results, Y2K-Affected Enterprise Systems Market Slow To Rebound...

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Title: Symix Announces Preliminary Third Quarter Financial Results

Y2K-Affected Enterprise Systems Market Slow To Rebound; eCommerce

Software Sales Accelerate In Symix's Frontstep eBusiness Subsidiary -

Story Filed: Monday, April 03, 2000 6:39 PM EST

COLUMBUS, Ohio, Apr 3, 2000 /PRNewswire via COMTEX/ -- Symix Systems, Inc. (Nasdaq: SYMX) today released preliminary financial performance results for the third quarter ended March 31, 2000. The Company expects results for the third quarter to be below current expectations, and expects to report a quarterly operating loss.

The operating loss is expected to be in the range of $0.15 to $0.17 per share, or between $1.2 million and $1.4 million after tax consideration, excluding non-recurring charges for the acquisition of Profit Solutions, Inc. in February 2000, compared with the prior year results of $0.11 (diluted) gain per share.

For the quarter, the Company expects total revenue to be between $31 million and $33 million, compared to the prior year total revenue results of $31.3 million. Symix intends to release its final third quarter earnings results on April 20, 2000.

"Our assumption that demand for traditional ERP systems would rebound immediately following Y2K was optimistic," said Stephen A. Sasser, Symix President and Chief Executive Officer.

"Although we are beginning to see a recovery in our traditional markets, this recovery is taking a new form. Today's markets are focused on eBusiness and customer-facing systems, and we expect that trend to continue.

"Our recently-established eBusiness subsidiary, Frontstep, has ramped up quickly, exceeding our expectations," added Sasser. "Since the announcement of the subsidiary in late January, the revenue from our new eBusiness applications is already approaching $2 million.

We are also pleased with our newly acquired eCRM offering, where we have signed several new deals outside of our traditional manufacturing and distribution markets. In our upcoming fourth quarter we will be delivering both our new eProcurement offering resulting from our Commerce One relationship and our initial supply chain planning Web applications.

"There is no question both our business and traditional enterprise markets are going through a significant transition period. The business system of the future will require customer-facing and supply chain planning applications over the Web, and during the last year, we made the business decision to invest resources in the development of these systems.

We are now in a unique leadership position to deliver these solutions to the market. We are moving rapidly in the right direction, and we remain very optimistic about our long-term prospects. We have the most comprehensive eBusiness offering in the midmarket, and we will continue to invest in business-to-business applications and adjust our business plans to reflect this transition period."

The financial results released today are preliminary and reflect Symix's current expectations on information currently available to Symix.

Symix Systems, Inc. and its subsidiaries develop and market software and services that enable companies worldwide to quickly identify and deploy eBusiness opportunities, and build the supporting business and technology infrastructure.

Symix's comprehensive suite of products include the eSyte suite of eBusiness applications and deployment services, and the SyteLine, SyteCentre and SyteDistribution ERP and supply chain application suites.

Through its eBusiness subsidiary, Frontstep, Inc., Symix is helping its customers take their talents and services to the Internet, today's "digital marketplace." Headquartered in Columbus, Ohio, Symix has helped over 3,900 customers build their business systems and better serve their customers. Symix markets its products through sales and service offices worldwide, as well as through independent business partners. Symix company and product information is available at http://www.symix.com.

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The statements contained in this press release which are not historical fact are "forward-looking statements" that involve risks and uncertainties, including, but not limited to, the effect of revenue recognition accounting rules, sales execution and completion and other factors detailed in Symix's fil ings with the Securities and Exchange Commission.

SyteLine is a registered trademark and SyteCentre, SyteDistribution and eSyte are trademarks of Symix Computer Systems Delaware, Inc. All other products mentioned are trademarks or registered trademarks of their respective companies.

For more information, contact: Noelle Sicuro Symix, 614-523-7344 noesic@symix.com

Tariq Jawad, Ruder-Finn 212-593-6391 jawadt@ruderfinn.com SOURCE Symix Systems, Inc.

(C) 2000 PR Newswire. All rights reserved.

http://www.prnewswire.com

CONTACT: Noelle Sicuro of Symix, 614-523-7344, or noesic@symix.com; or

http://library.northernlight.com/FD20000403090000050.html?cb=200&dx=2006&sc=0#doc

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-- (Dee360Degree@aol.com), April 04, 2000


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