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PlanGraphics, Inc.,
Investor Relations Conference Call
FRANKFORT, Ky., January
8, 2003PlanGraphics, Inc. (OTC BB: PGRA), a designer and integrator
of e-government solutions and spatially enabled information systems and
data warehouses, hosted a conference call for shareholders and investors
on January 7, 2003. Highlights of information disclosed during the conference
call are presented below:
- For fiscal 2002
the wholly owned subsidiary was profitable on a standalone basis. The
net loss on a consolidated basis was the lowest in the past several
years.
- Management expects
to continue to make incremental progress over fiscal 2002. While the
economy has been uncertain, heightened interest in security and emergency
preparedness has brought more work to the company. Increased sales and
marketing activities by the company are also expected to enhance revenue.
- Backlog and assignments
at December 31, 2002 amounts to approximately $19.5 million of which
about $9.0 million is unfunded. The total is about $10.0 million higher
than a year ago.
- Revenue for fiscal
2003 is expected to grow about 20% over 2002. Company expects to be
profitable for fiscal 2003.
- First quarter of
fiscal 2003 results are not yet known. Given the number of holidays
and other constraints such as the delays in initiating the recent HUD
contract and in the approval of government agency appropriation bills
by Congress, which affects funding to federal agencies and state and
local governments, the quarter has been a challenge.
- The Company has
made significant improvement in reducing aged accounts receivable and
most are expected to be current about the end of January. In addition
to the payment received and reported in its Form 10-KSB, PlanGraphics
has subsequently received a second significant payment from its largest
customer.
- New York City ("NYC")
contract presently valued at $15.4 million could be worth as much as
$25 to $30 million, if the customer exercises all options and renewals.
State agencies in New York are also in the process of funding additional
work against the NYC contract. PlanGraphics will add staffing in New
York to service the contract in addition to servicing it from its existing
offices. The company expects the recent very positive article in Federal
Computer World to enhance its visibility; the URL for it is http://www.fcw.com/geb/articles/2002/1230/web-nyc-01-03-03.asp.
- PlanGraphics' meetings
with local government elected officials and managers have been well
received and there is expressed interest in the Company's security and
emergency preparedness service and systems capabilities. Company expects
that as fiscal 2003 federal funding for Homeland Security is finalized
and flows down to state and local governments these marketing investments
will bear fruit.
- PlanGraphics has
completed two significant projects in Shanghai, China, funded by the
World Bank and is completing a third. It has also begun a significant
project in Sechuan and expects additional awards from Sechuan Province
and other locations in China during FY 2003.
PlanGraphics' President,
John Antenucci, concluded, "In summary, while disappointed at failing
to show positive net income we have continued to make positive strides
and we are looking better than in prior years. We are well positioned
for fiscal year 2003."
An audio webcast of
the conference call is available on the Internet at www.plangraphics.com
where it will be available for 30 days.
The annual report
filed with the Securities and Exchange Commission is available at www.plangraphics.com
or at www.sec.gov.
PlanGraphics, founded
in 1979, is a full life-cycle systems integration and implementation firm
that provides a broad range of services in the design and implementation
of information technology in the public and commercial sectors. PlanGraphics'
experience with spatial information systems and e-services capabilities
provides a critical discriminator among other IT consulting and integration
firms. PlanGraphics is headquartered in Frankfort, Kentucky, and has regional
offices in Maryland, Colorado, California, Rhode Island, and New York.
For more information about the company on the Internet: www.plangraphics.com
The foregoing contains
forward-looking statements that are subject to contingencies and uncertainties.
Such forward-looking statements are not guarantees of future performance,
and are based on numerous assumptions about future transactions or results
that may differ materially from anticipated events, transactions or results
indicated and are included in the "safe harbor" provided by
the Private Securities Litigation Reform Act of 1995.
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Copyright
2003 PlanGraphics, Inc.
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