Contact Information: Contacts: Peerless Systems Corporation: John Rigali Chief Financial Officer (310) 297-3146 Investor Contact: Geoff High Pfeiffer High Investor Relations, Inc. (303) 393-7044
Adobe Extends the Term of Agreement With Peerless to June 30, 2008
| Source: Peerless Systems Corporation
EL SEGUNDO, CA--(Marketwire - August 21, 2007) - Peerless Systems Corporation (Peerless)
(NASDAQ : PRLS ), a provider of advanced imaging and networking technologies
and components to the digital document market, today announced that Adobe
Systems Incorporated (Adobe) has extended the term of the PostScript
Software Development License and Sublicense Agreement that it entered into
with Peerless on July 23, 1999, and confirmed the license granted from
Adobe to Peerless under the terms of the Agreement is non-exclusive in
nature. The termination date of the Agreement has been extended to June
30, 2008, from December 31, 2007.
About Peerless Systems Corporation
Founded in 1982, Peerless Systems Corporation is a provider of imaging and
networking technologies and components to the digital document markets,
which include manufacturers of color, monochrome and multifunction office
products and digital appliances. In order to process digital text and
graphics, digital document products rely on a core set of imaging software
and supporting electronics, collectively known as an imaging controller.
Peerless' broad line of scalable software and silicon offerings enables its
customers to shorten their time-to-market and reduce costs by offering
unique solutions for multiple products. Peerless' customer base includes
companies such as Canon, IBM, Konica Minolta, Kyocera Mita, Lenovo,
OkiData, Ricoh, RISO, Seiko Epson and Xerox. Peerless also maintains
strategic partnerships with Adobe and Novell. For more information, visit
Peerless' web site at www.peerless.com.
Safe Harbor Statement Under The U.S. Private Securities Litigation Reform
Act Of 1995
Statements made by us in this press release that are not historical facts
constitute "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, including the Board of Director's interest in increasing the
number of directors by up to three additional individuals. These
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operating results. Statements that use words such as we "believe,"
"anticipate," "estimate," "intend," "could," "plan," "expect," "project" or
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of future performance, rely on a number of assumptions concerning future
events, many of which are outside of our control, and involve known and
unknown risks and uncertainties that could cause our actual results,
performance or achievements, or industry results, to differ materially from
any future results, performance or achievements, expressed or implied by
such
forward-looking statements. Such risks and uncertainties include, among
other things, our ability to identify, attract and retain additional
members of our Board of Directors, changing competitive and market
conditions, our reliance on certain OEM customers for significant portions
of our revenues, the sufficiency of our capital resources, any adverse
change in our relationship with Adobe Systems Incorporated and Novell,
Inc., increased competition both from in-house OEM products and low cost
offshore competitors, the impact of Microsoft's Vista™ operating system,
reduced demand for our existing monochrome technologies, the rapid changes
taking place in the emerging color print devices markets, contract backlog
will be realized, our ability to identify new customers or place our
technology in a broader base of products, our ability to leverage core
competencies and find product segments that blend well with our core
business, our ability to successfully enter new software application
sectors, our ability to maintain our profit objectives and create
compelling margins, the tenure of the competitive advantage of our old and
new technologies, our reliance on block licensing, our ability to develop
and market our advanced devices and software, the validity and protection
of our intellectual property rights and our ability to execute our business
plan and strategic partnering transactions.
The above risks, and others, are described in further detail in our reports
filed with the Securities and Exchange Commission, including, but not
limited to, those described under "Item 1A. Risk Factors" in our most
recent Annual Report on Form 10-K for the fiscal year ended January 31,
2007, filed on April 13, 2007, and those described under "Item 1A. Risk
Factors" in the most recent Quarterly Report on Form10-Q for the quarter
ended April 30, 2007, filed on June 11, 2007.
Current and prospective stockholders are urged not to place undue reliance
on forward-looking statements, which speak only as of the date hereof. We
are under no obligation, and expressly disclaim any obligation, to update
or alter any forward-looking statements, whether as a result of new
information, future events or otherwise. All forward-looking statements
contained herein are qualified in their entirety by the foregoing
cautionary statements.