CONTACT: Jacqueline Crowley
Investor Relations
Peritus Software Services, Inc.
978/670-0800
Fax: 978/670-2060
Internet: jcrowley@peritus.com
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PERITUS SOFTWARE SERVICES, INC.
COMMENTS ON THIRD QUARTER OUTLOOK
BILLERICA, MASS. -- SEPTEMBER 23, 1998 -- Peritus Software Services, Inc.
(Nasdaq:PTUS) today announced its preliminary results for the quarter ending
September 30, 1998 based on information available to date. Total revenue in the
1998 third quarter is expected to be between $4.2 million and $7.7 million, and
the Company expects a net loss for the quarter (excluding any restructuring
charge) of between $8.2 million and $4.7 million. Later this month, the Company
plans to announce the details of a restructuring charge to be incurred this
quarter.
The Company plans to announce its final 1998 third quarter results in late
October.
ABOUT PERITUS
Founded in 1991, Peritus Software Services, Inc. is a leading provider of
software maintenance outsourcing services. The Peritus Software Asset
Maintenance (SAM) offerings enable organizations to transform the maintenance
process into an efficient, cost-effective discipline that boosts productivity
and performance. SAM offerings include customized services for software
providers, information systems organizations, and Year 2000 renovations.
Peritus is headquartered in Billerica, MA, with offices worldwide. For more
information, see the Peritus web site at http://www.peritus.com.
This press release may contain certain forward-looking statements, which involve
risks and uncertainties. The Company's actual results may differ materially from
the results discussed in such statements. Certain factors that could cause
actual results to differ materially from those discussed in such forward-looking
statements include the risks described in the Company's Annual Report on Form
10-K for the year ended December 31, 1997, the Quarterly Report on Form 10-Q for
the quarter ended June 30, 1998, and other public filings made by Peritus with
the Securities and Exchange Commission, which factors are incorporated herein by
reference.
Peritus is a registered trademark and Software Asset Maintenance is a
servicemark of Peritus Software Services, Inc.