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Primus Knowledge Solutions Announces Preliminary Financial ResultsThird Quarter Revenue Grows Sequentially By More Than 40 PercentSEATTLE, WA – October 2, 2002 – Primus Knowledge Solutions (Nasdaq: PKSI), a global provider of knowledge application software for customer contact centers, IT help desks, and Web self-service, today announced preliminary results for the third quarter ended September 30, 2002. Revenues for the third quarter will be approximately $6 million, an increase of more than 40%, compared with $4.2 million for the second quarter of 2002. Net loss is expected to be approximately $0.07 to $0.09 per share, compared with a second quarter 2002 net loss of $0.17 per share. “We grew revenues and enhanced our bottom line in a challenging business environment and a traditionally slow quarter. We continue to expand our product suite, grow our blue chip customer base and drive toward profitability. In addition, our financial position remains solid, with no long term debt and approximately $13 million in cash and investments,” said Mike Brochu, President and Chief Executive Officer of Primus. During the quarter Primus closed an enterprise deal with T-Mobile, and signed agreements with Airbus, GE Power Systems, Hitachi Data Systems, Lexmark, Online Development, Primus KK and others. Primus will provide detailed information on the quarter's financial results at the regular quarterly conference call later this month. About Primus Knowledge Solutions, Inc. Primus® (Nasdaq: PKSI) provides knowledge management solutions to help companies define, meet and exceed the productivity and quality goals of their contact centers, help desks, and Web-interaction environments. Businesses around the world use Primus software to increase customer satisfaction, improve employee efficiency and lower operating costs. Primus clients include such industry leaders as 3Com, 3M, Airbus, the Boeing Company, Compaq Computer Corp., EMC, Enterasys, Ericsson, Inc., Fujitsu Limited, Inc., IBM, Motorola, Novell, T-Mobile and VeriSign. For more information, visit www.primus.com or call 206-834-8100. Primus, Primus Knowledge Solutions, Primus Answer Engine, Primus eServer, Primus eSupport and Primus eServer iView are registered trademarks or service marks of Primus Knowledge Solutions, Inc. Other products and company names mentioned in this press release may be the trademarks of their respective owners. Any statements, expectations and assumptions contained in this press release that do not describe historical facts, such as statements about the integration, performance, use, and deployment of Primus products, customer orders, preliminary expected financial statement results, revenues required to achieve profitability, future spending levels and the anticipated results of our operations constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There is no guarantee that these results will actually occur. Any forward-looking statements contained in this release are based on current expectations, are not guarantees of future performance, and are subject to a number of risks and uncertainties. Factors that could cause actual results to differ materially from current expectations include the following: any accounting adjustments made during the close of Primus’s quarter; the pace of information technology spending; general economic conditions; failure in the customer's widespread adoption and use of the Primus products; fluctuations in customer demand; use of the Web as a delivery vehicle for customer support solutions; risk resulting from new product introductions and customer acceptance of new products; our need to develop new products and service offerings in the face of rapid technological change; the risks associated with competition and the rapid consolidation of competitors; the impact of class action securities litigation against Primus and certain of its officers; continued growth in the use of the Internet; the ability of Primus to manage its integration efforts and the ability of Primus to compete successfully in the future, as well as other risks identified in Primus' Securities and Exchange Commission filings, including but not limited to those appearing under the caption "Factors Affecting our Future Operating Results" in the Primus report on 10-K filed in March of 2002 and the Primus reports on 10-Q filed in May of 2002 and August of 2002. Editorial Contact: Kristin Treat Primus Knowledge Solutions Inc. 206-283-2624 treatk@fleishman.com top of page |
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