EXHIBIT 99
[TECHTEAM LOGO]
NEWSRELEASE
NASDAQ/NM -- "TEAM"
FOR IMMEDIATE RELEASE, Tuesday, September 30, 2003
TECHTEAM APPOINTS LARRY W. GRANGER CHIEF OPERATING OFFICER
COMPANY ANNOUNCES PRELIMINARY RESULTS FOR THE QUARTER ENDED
SEPTEMBER 30, 2003
TECHTEAM TERMINATES LETTER OF INTENT TO PURCHASE MAJORITY STAKE IN A GROUP OF
MALAYSIAN COMPANIES
COMPANY TO ANNOUNCE THIRD-QUARTER RESULTS AND HOST LIVE WEBCAST ON
NOVEMBER 7, 2003
SOUTHFIELD, MICHIGAN, September 30, 2003...TECHTEAM GLOBAL, INC., (Nasdaq:
TEAM), a global provider of information technology and business process
outsourcing support services, today announced that Larry W. Granger has been
appointed by its Board of Directors to serve as the Company's Chief Operating
Officer with responsibility for the Company's operations, quality, technology,
and human resource functions. Mr. Granger will report directly to William F.
Coyro, Jr., President and Chief Executive Officer of TechTeam.
Larry Granger joined TechTeam in December 2002 as Vice President of Professional
Services. Previously, Mr. Granger has held numerous executive positions within
Ford Motor Company's information technology organization, including Chief
Information Officer for three major business units of Ford Motor Company,
including the Steel Division, Electronics Division, and Visteon Automotive
Systems. In addition, Mr. Granger worked for three years at Ford's Manufacturing
Engineering Staff where he was Manager of Computer Integrated Manufacturing and
Manager of Operations Engineering. He was also a key member of the Ford 2000
Transition Team, which created the Process Leadership Office in 1994 to
reengineer Ford's Global Automotive Operations. From 1996 to 1998, Mr. Granger
resided in Europe and was the Director of the Ford European Process
Reengineering Office. For the three years prior to joining TechTeam, Mr. Granger
was the Founder, President, and Chief Executive Officer of Perodon, L.L.C., a
company providing business improvement and information technology services to
Detroit-area clients.
-- More --
27335 West 11 Mile Road, Southfield, Michigan 48034 - Telephone (248) 357-2866
- Fax (248) 357-2570 - www.techteam.com
[TECHTEAM LOGO]
NEWSRELEASE
"The promotion of Larry Granger to Chief Operating Officer will better enable
TechTeam to respond to the current business climate, where customers expect
higher quality service at a lower cost," said Dr. Coyro. "Larry provides the
operational and process engineering experience which will better enable us to
profitably grow our global business. Even more importantly, I will now be able
to devote more of my time and attention to the continued expansion of our global
business with new and existing customers and our strategic and acquisition
plans."
Separately, TechTeam also announced that it expects to report a net loss for the
quarter ended September 30, 2003 of between $1.3 million and $1.5 million, or
($.13) to ($.15) per basic share outstanding. The anticipated loss arises
primarily from start up costs associated with the growth of major new business
activity in Europe, renewal of existing business at lower pricing, and a
significant operational expansion of TechTeam's multilingual help desk in
Brussels, Belgium. The Company's European operations have continued to expand at
a substantial pace and the Company anticipates growth of about 70% in the size
and revenue of our European operations in 2003 from 2002.
Further, TechTeam announced the termination of its non-binding letter of intent
to acquire 88% of the outstanding stock in a group of Malaysian companies, which
provide Pan-Asian outsourced support services for the technology, finance, and
telecommunications industries. While TechTeam remains committed to implementing
a premier global help desk strategy, it could not reach terms with the
shareholders of this group, terms necessary to assure the long-term success of
its global strategy.
Finally, TechTeam announced that it will host an investor teleconference to
discuss its third-quarter 2003 results at 10:00 a.m. Eastern Standard Time
(EST), on Friday, November 7, 2003. The Company anticipates releasing its
financial results at approximately 7:00 a.m. that morning.
To access a simultaneous Webcast of the teleconference, go to the TechTeam
Global Web site at www.techteam.com/press and click on the Webcast icon. From
this site, you can download the necessary software and listen to the
teleconference. TechTeam encourages you to review the site before the
teleconference to ensure that your computer is configured properly.
A taped replay of the call will be available beginning at approximately 12 noon
EST, Friday, November 7. This toll-free replay will be available until 12 noon
EST, Friday, November 14, 2003.
To listen to the teleconference replay, call 800-633-8284. (Outside the United
States, call 402-977-9140.) When prompted, enter the TechTeam reservation
number: 21162028.
TECHTEAM GLOBAL, INC. is a global provider of information technology and
business process outsourcing services. The Company's ability to integrate
computer services into a flexible, total single point of contact solution is a
key element of its success. Partnerships with some of the world's
"best-in-class" corporations provide TechTeam with unparalleled experience and
expertise in providing the following IT support solutions: help desk/call center
services, technical staffing, professional services/systems integration, and
training programs. For information about TechTeam Global, Inc. and its
outstanding services call 1-800-522-4451.
-- More --
27335 West 11 Mile Road, Southfield, Michigan 48034 - Telephone (248) 357-2866
- Fax (248) 357-2570 - www.techteam.com
[TECHTEAM LOGO]
NEWSRELEASE
SAFE HARBOR STATEMENT
The statements contained in this press release that are not purely historical,
including statements regarding the Company's expectations, hopes, beliefs,
intentions, or strategies regarding the future, are 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. Forward-looking
statements include statements regarding, among other things, the growth of the
Company's core business, revenue, and earnings performance going forward,
management of overhead expenses, productivity, and operating expenses.
Forward-looking statements may be identified by words including, but not limited
to, "anticipates," "believes," "intends," "estimates," "promises," "expects,"
"should," "conditioned upon," and similar expressions. Prospective investors are
cautioned that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors. Such factors include, but are not limited to, the
award or loss of significant client assignments, timing of contracts and the
launch of new business, recruiting and new business solicitation efforts, the
market's acceptance of and demand for the Company's offerings, competition,
unforeseen expenses, the continuing difficult market and downward price pressure
for information technology outsourcing services, the Company's exit from the
leasing business, demands upon and consumption of the Company's cash and cash
equivalent resources or changes in the Company's access to working capital,
changes in the quantity of the Company's common stock outstanding, regulatory
changes and other factors affecting the financial constraints on the Company's
clients, economic factors specific to the automotive industry, general economic
conditions, unforeseen disruptions in transportation, communications or other
infrastructure components, unforeseen or unplanned delays in the Company's
ability to consummate acquisitions, and the Company's ability to successfully
integrate acquisitions on a timely basis. All forward-looking statements
included in this press release are based on information available to the Company
on the date hereof, and the Company assumes no obligation to update any such
forward-looking statement. Prospective investors should also consult the risks
described from time to time in the Company's Reports on Forms 8-K, 10-Q and 10-K
filed with the United States Securities and Exchange Commission.
###
CONTACTS:
TECHTEAM GLOBAL, INC. TECHTEAM GLOBAL, INC. TECHTEAM GLOBAL, INC.
William F. Coyro, Jr. Larry W. Granger Kim Cooper
President and Chief Executive Chief Operating Officer Chairman of the Board of
Officer (248) 357-2866 Directors
(248) 357-2866 lgranger@techteam.com (248) 357-2866
wcoyro@techteam.com
27335 West 11 Mile Road, Southfield, Michigan 48034 - Telephone (248) 357-2866
- Fax (248) 357-2570 - www.techteam.com