Exhibit 99
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For More Information Contact:
Investor Relations
Astea International, Inc.
Rick Etskovitz, Chief Financial Officer
215-682-2500
ricke@astea.com
FOR IMMEDIATE RELEASE:
Astea Reports Second Quarter 2003 Results
Horsham, PA, August 14, 2003--Astea International Inc. (NASDAQ:ATEA), a global
provider of Service Smart, Enterprise Proven CRM solutions, today released
financial results for its second fiscal quarter of 2003.
For the quarter ended June 30, 2003, Astea reported revenues of $3.1 million
compared to revenues of $3.3 million for the quarter ended June 30, 2002. Net
loss for the quarter was $1.5 million or $0.10 per share, compared to a net loss
of $1.6 million or $0.11 per share for the same period in 2002. For the six
months ended June 30, 2003, the Company reported revenues of $7.1 million and a
net loss of $2.0 million, or $0.13 per share.
Service and maintenance revenues for Astea Alliance increased 31% over the same
period in 2002. Overall service and maintenance revenues increased 9% compared
with the same period in 2002.
"Restraints on capital spending continue to affect results," said Zack Bergreen,
chairman and CEO of Astea International. "We continue to wait for companies to
sign off on business that has
been negotiated and sits at the end of our sales pipeline. As has been widely
reported by leading industry analysts, many organizations are recognizing the
value to be found within their service organizations. Many companies are
planning deployment of Astea's products to launch new customer service
initiatives, but we are captive to their timetables. We have already closed
several sales at the start of the third quarter and we look forward to a
stronger second half."
Among the early Q3 sales is Ascent Media Systems & Technology Services, part of
Ascent Media Group, a wholly owned subsidiary of Liberty Media Corporation; and
Gambro Technical Services, Inc., a unit of Gambro, the global provider of
medical products and services. Both companies will deploy Astea Alliance to
manage their respective field service operations throughout the U.S., and are
also examples of existing legacy Dispatch-1 customers who have decided to
license the newer software.
Second Quarter Highlights
o Astea's Alliance Pocket PC solution was certified by Microsoft,
receiving the Microsoft Mobile2Market Logo qualification.
o Astea was identified by AMR Research as a leader and "taking top seat"
among best-of-breed field service management solution providers. AMR
Research cites Astea's Alliance CRM Suite to be the most complete in
supporting CRM needs. (Source: AMR Research Alert, June 5, 2003)
o A wave of established Astea customers, who have recently licensed
add-on Alliance Laptop and Alliance Pocket PC functionality, have
begun to go live with their new mobile capabilities. Among these
companies are Toshiba Electronic Imaging, Haemonetics and Diagnostica
Stago in North America and Phoenix IT Group in Europe.
o Companies currently implementing v6.1 include Carrier Corporation,
Circuit City and Unicom in North America; Thales and Phoenix IT Group
in Europe; and Skilled Engineering Limited in Australia.
o Other new customers going live on Astea's earlier v5.5 product
included Enovation Graphic Systems (a division of Fuji Photo Film),
Optos, Memorex EDS and BANC:source.
Astea will host a conference call that will be broadcast live over the Internet
on August 15, 2003 at 11:00 AM EDT to discuss the Company's second quarter
financial results. Investors can access the call from the Company's Web site at
http://www.astea.com/ab_investors.asp. For those who cannot listen to the live
broadcast, a replay will be available shortly after the call.
About Astea International Inc.
Astea International Inc. (www.astea.com) is a global provider of service-focused
CRM software that addresses the unique needs of companies who manage capital
equipment, mission critical assets and human capital. The Astea Alliance CRM
suite addresses the complete service lifecycle, from lead generation and project
quotation to service and billing through asset retirement. It integrates and
optimizes critical business processes for Sales & Marketing, Contact Center,
Field Service, Depot Repair, Professional Services, Portals, Analytics and
Mobile solutions. Astea has licensed applications to companies in a wide range
of sectors including information technology, telecommunications, instruments &
controls, business systems, and medical devices.
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(C)2003 Astea International Inc. Astea and Astea Alliance CRM are trademarks of
Astea International Inc. All other company and product names contained herein
are trademarks of the respective holders.
This press release contains forward-looking statements that are made under the
"safe harbor" provisions of the Private Securities Litigation Reform Act of 1995
and involve a number of risks and uncertainties that could materially affect
future results. Among these risk factors are possibilities that the companies
mentioned in this press release may not purchase licenses for Astea Alliance,
the continuing acceptance of Astea's products, general competitive pressures in
the marketplace, and continued overall growth in the customer relationship
management solutions industry. Further information regarding these as well as
other key risk factors and meaningful cautionary statements that could affect
the Company's financial results are included at length in the Company's Form
10-K for the fiscal year ended December 31, 2002, filed with the Securities and
Exchange Commission.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ASTEA INTERNATIONAL INC.
Date: August 14, 2003 By: /s/Zack B. Bergreen
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Zack B. Bergreen
President and Chief Executive
Officer
By: /s/Fredric Etskovitz
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Fredric Etskovitz
Chief Financial Officer