DEERFIELD BEACH, Fla., Aug. 16, 2005 (PRIMEZONE) -- Caneum Inc. (OTCBB:CANM) is new to StockMarketNewsAlert.com. Caneum Inc. is a global provider of business process and information technology outsourcing products and services across vertical industries including technology, energy, government, transportation, financial services, education, and healthcare.
According to D. Baker at First Equity Group, Inc., "Recent news flow from the company has been very positive. Caneum Inc. Announced 235 Percent Year-over-Year Revenue Increase for Second Quarter 2005 Reporting Period; Company Reports Ninth Consecutive Quarter of Sequential Revenue Growth. The company, which subcontracts for start-up, mid-sized, and Fortune 100 companies, providing a range of services from software engineering to back-office work, attributed its performance to strong demand for such outsourcing services and increased corporate recognition among blue chip customers."
Chairman Alan Knitowski commented, "Management continues to be pleased with new business initiatives. We are seeing, as reported by industry leader Infosys (INFY), tremendous prospects for the coming 6-12 months. The future for our agnostic, hybrid outsourcing model approach is very bullish and we continue to sign new business and communicate to the financial markets our improved visibility, revenue, and gross margin expectations."
Knitowski went on to comment, "Our Industry Advisory Practice combined with our IT Services Group, Infrastructure Group, and Core Strategies Unit, have initiated new business relationships with customers at a rate that is beyond expectations. Additionally, both the size of our customers and our ongoing contract obligations permit us improved visibility with regard to operating margins in the upcoming quarters and throughout the next 12 months. The inclusion of Andrew Miller to our team has made an immediate impact, most notably, his involvement with the Countrywide Financial (CFC) customer relationship. The success is a credit to our team, and we feel that these results highlight the continued acceptance of our hybrid outsourcing model. It also validates the professional quality of services that we are providing to our customer base, both new and existing customers alike. We welcome shareholders, prospective and current, to review additional details and developments in our 2Q05 10-QSB filing. We are looking for continued positive news in the months ahead. In light of the recent announcements, we remain optimistic on the company's near-term prospects."
For the full profile, the reader's attention should be drawn to our initiating report, which is available on www.StockMarketNewsAlert.com. For more information, please visit the company's Web site at http://www.caneum.com.
About Caneum Inc.:
Caneum Inc. is a global provider of business process and information technology outsourcing products and services across vertical industries including technology, energy, government, transportation, financial services, education, and healthcare. The company provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, product development, product maintenance and customer support, and fulfills its services in-house, on-shore, near-shore, and off-shore depending on the business goals and objectives of its global customers. In parallel, Caneum is opportunistically pursuing accretive acquisitions within its core outsourcing product and service suite in order to broaden its core capabilities, expand its customer base, and supplement its organic growth. For more information, please visit the company's Web site at http://www.caneum.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the company's filings with the Securities & Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards, and frequent introductions of new products and enhancements by competitors; the competitive nature of the markets for Caneum's services; Caneum's ability to gain market acceptance for its services and products; the company's ability to fund its operations; the company's ability to attract and retain skilled personnel; the company's reliance on third-party suppliers; the company's ability to acquire 1138 Inc. and successfully integrate the operations of 1138 Inc. into the company.
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