HOUSTON, Jan. 16, 2004 (PRIMEZONE) -- The Project Group, Inc. (OTCBB:PJTG), a leading integrator of Microsoft(r) Project and provider of business initiative services, today reiterated financial projections for fiscal 2004. Craig Crawford, president and CEO, made the announcement. On November 26, 2003, the company announced that it anticipates revenues in excess of $6 million for 2004. These projected results assume that significant working capital will be generated by investment activities and that certain large services contracts will be extended through the balance of 2004.
"Based on the significant number of material contracts which The Project Group has entered into -- particularly in the last six months -- now that the year has drawn to a close, we are able to provide comfort on our previous guidance for 2004," stated Mr. Crawford. "As we have stated, our strategic plan, including proprietary methodologies and technology, as well as our infrastructure, are modular and scalable. In the last six months alone, The Project Group has been engaged by such substantial companies as Blue Cross/Blue Shield of Louisiana, Pioneer Natural Resources, Inc., Solvay Chemical, Inc., as well as expanded engagements with such prestigious companies as Microsoft, Southwest Airlines and Carter-Burgess, Inc."
About The Project Group
The Project Group, Inc., a Microsoft Gold Certified Partner, is an emerging growth information technology company specializing in project management advisory services, implementation services, configuration, custom programming and other related products and services using its proprietary methods. The Project Group has provided its expertise to the Fortune 1000 including Waste Management (WMI), Microsoft (MSFT) and Texas Industries, Inc. (TXI). PJTG, headquartered in Houston, Texas was founded in 2001 by senior project managers with broad Fortune 1000 project experience. PJTG focuses on providing enterprise based project management solutions and improving project schedule and budget performance for its customers throughout the United States and world. The company focuses on providing enterprise-based project management tools and solutions and improving project performance for its customers throughout the United States and around the world. Its clients include many of the largest and most prestigious corporations in the world, including Wal-Mart, Microsoft Corporation, Halliburton, Waste Management, Lukoil and Ernst & Young. For additional information on The Project Group contact Racquel Rivera, Vice President -- Investor Relations, Trilogy Capital Partners, racquel@trilogy-capital.com.
Cautionary Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated by these statements. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new opportunities, and the unpredictable nature of business risks; as well as other factors set forth in the Company's most recently filed Form 10 reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. The projections herein assume that a significant amount of cash will be invested in the Company; if that cash is not available these projections are not valid. The Company assumes no obligation to update the statements contained in this release.