WESTBOROUGH, Mass., Aug. 11 /PRNewswire/ -- Peritus Software Services,
Inc. (OTC: PTUS.OB), a provider of solutions for software maintenance
technology and services, today announced its financial results for the quarter
ended June 30, 2000.
Total revenue in the three months ended June 30, 2000 decreased 70.3% to
$926,000 from $3,113,000 in the three months ended June 30, 1999. The
Company's net loss decreased 18.0% to $433,000 or $0.02 per share from
$528,000 or $0.03 per share in the three months ended June 30, 1999. The
period ended June 30, 1999 included a net charge of $458,000 related to
restructuring and impairment of long-lived assets.
The Company continues to evaluate extensions of and additions to its
current product and service offerings. The Company has also explored certain
extensions to its currently marketed CodeNine tool (formerly named SAM
Workbench), including extensions to support the renewal and web enablement of
legacy applications, and has concluded that they are not feasible at this
time.
Detailed results and commentary will be contained in the Company's
Quarterly Report on Form 10-Q to be filed with the Securities and Exchange
Commission via the EDGAR system by August 14, 2000.
About Peritus
Founded in 1991, Peritus Software Services, Inc. offers products and
services that enable organizations to improve the productivity, effectiveness
and quality of the software evolution process. The Peritus Software Asset
Maintenance (SAM) offerings enable organizations to transform the maintenance
process into an efficient, cost-effective discipline that boosts productivity
and performance. Peritus is headquartered in Westborough, MA. For more
information, see the Peritus web site at http://www.peritus.com.
This press release may contain certain forward-looking statements, which
involve risks and uncertainties. The Company's actual results could differ
materially from those anticipated in those forward looking statements as a
result of various factors, including the risks described in the Company's
Annual Report on Form 10-K for the year ended December 31, 1999 and other
public filings made by Peritus with the Securities and Exchange Commission,
which factors are incorporated herein by reference. From time to time, the
Company may also provide oral and or written forward-looking statements in
other materials it releases to the public. The Company does not assume any
obligation to update any of the forward-looking statements it makes.
Contact: Ron Garabedian
Vice President and Treasurer
Peritus Software Services, Inc.
Phone: 508-870-0963
Fax: 508-870-0764
E-mail: rgarabedian@peritus.com
Peritus is a registered trademark and CodeNine and SAM Workbench are
trademarks of Peritus Software Services, Inc.
SOURCE Peritus Software Services, Inc.
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Related links:
http://www.peritus.com
Company News On-Call:
http://www.prnewswire.com/comp/123089.html or fax,
800-758-5804, ext. 123089
CONTACT:
Ron Garabedian, Vice President and Treasurer
of Peritus Software Services, Inc., 508-870-0963,
508-870-0764(fax), rgarabedian@peritus.com
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