KING OF PRUSSIA, Pa., July 14, 2003 (PRIMEZONE) -- Neoware Systems (Nasdaq:NWRE), the leading supplier of software, services and thin client appliances, today announced that Textron Financial is realizing financial benefits by replacing personal computers with Neoware's centrally managed thin client appliances and ezRemote Manager software. By installing Neoware's thin client appliances and their award-winning enterprise-class management software, Textron Financial is improving profitability by reducing the overall cost of desktop administration by as much as 50 percent.
Textron Financial is a subsidiary of Textron Inc. (NYSE:TXT), an $11 billion multi-industry company with more than 49,000 employees in 40 countries. The company leverages its global network of businesses to provide customers with innovative solutions and services in industries such as aircraft, fastening systems, industrial products and components and finance. Textron Financial provides financing solutions to small and mid-size companies and was looking to reduce the cost of managing the computers deployed in 11 field offices across North America. Textron Financial found that Neoware offered the best solution for reducing both up-front and ongoing costs and is in the process of installing Neoware thin client appliances in their regional data centers to handle customized accounting packages that manage portfolio accounts.
"Neoware's software and thin client appliances provide us with the central management tools to easily maintain and upgrade our users, enabling us to focus on our core business of managing financial assets," said David Raspallo, CIO of Textron Financial. "Our IT operation costs are now nearly half of what we spent to administer a PC-based network, and we expect the thin clients' extended lifetime to provide further savings."
Neoware's thin client appliances deliver secure access to applications running on servers, preventing staff from accessing the non-essential programs that ordinarily ship with PCs. In addition, Neoware's thin client appliances are much less expensive than PCs to maintain since network administrators can upgrade them remotely, eliminating the need to send IT staff into the field.
"Nobody looks at cost savings as closely as a financial company," says Michael Kantrowitz, Chairman and CEO of Neoware Systems. "When Textron Financial wanted to do more with a constrained IT budget, Neoware's software and thin client appliances were the ideal answer, offering lower initial capital investment, as well as lower ongoing capital expenditures and administrative costs. Textron Financial's implementation of Neoware's thin client technology has already proven cost-effective, and their savings will continue to add up."
About Neoware
Neoware provides software, services, and solutions to enable Appliance Computing, a proven Internet-based computing architecture targeted at business customers that is designed to be simpler and easier than traditional PC-based computing. Neoware's software and management tools power and manage a new generation of smart computing appliances that utilize the benefits of open, industry-standard technologies to create new alternatives to personal computers used in business and a wide variety of proprietary business devices.
Neoware's products are designed to run local applications for specific vertical markets, plus allow access across a network to multi-user Windows servers, Linux servers, mainframes, minicomputers, and the Internet. Computing appliances that run and are managed by Neoware's software offer the cost benefits of industry-standard hardware and software, easier installation, and have lower up-front, maintenance, and administrative costs than proprietary or PC-based alternatives.
More information about Neoware can be found on the Web at http://www.neoware.com or via email at invest@neoware.com. Neoware is based in King of Prussia, PA.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding: the growth of the thin client market; our position as the fastest growing player in the thin client computing market; our position as the leading supplier of software, products, services and solutions for the Appliance Computing market; and the benefits of our software-focused business model allowing customers to preserve capital investment and lower ongoing costs of ownership. These forward-looking statements involve risks and uncertainties. Factors that could cause actual results to differ materially from those predicted in any such forward-looking statement include our ability to continue to lower our costs, our timely development and customers' acceptance of our Appliance Computing products, pricing pressures, rapid technological changes in the industry, growth of the Appliance Computing market, increased competition, our ability to attract and retain qualified personnel, our ability to identify and successfully consummate and integrate future acquisitions, adverse changes in customer order patterns, adverse changes in general economic conditions in the U.S. and internationally, risks associated with foreign operations and political and economic uncertainties associated with current world events. These and other risks are detailed from time to time in Neoware's periodic reports filed with the Securities and Exchange Commission, including, but not limited to, its report on Form 10-K for its fiscal year ended June 30, 2002 and Form 10-Q for the quarter ended December 31, 2002
Neoware is a registered trademark of Neoware Systems, Inc. All other names products and services are trademarks or registered trademarks of their respective holders.
From: For: Gregory FCA Communications, Inc. Neoware Systems, Inc. 27 W. Athens Ave. 400 Feheley Drive Ardmore, PA 19003 King of Prussia, PA 19406 Contact: Contact: Tim Cifelli Sharon O'Shea (610) 642-8253 (610) 277-8300, ext. 1743 email: tim@gregoryfca.com email: sharon.oshea@neoware.com