EXHIBIT 99.1
CONTACT: Brainerd Communicators
The Management Network Group, Inc. Michele Clarke (Media)
Janet Hall clarke@braincomm.com
Janet.Hall@tmng.com 212.986.6667
800.876.5329 Corey Kinger (Investors)
kinger@braincomm.com
212.986.6667
TMNG SETS FIRST QUARTER RESULTS CONFERENCE CALL FOR MAY 31
- Expects to File Form 10-Q On or Before May 31 -
- Receives Nasdaq Staff Determination Letter -
Overland Park, KS - May 25, 2007 - TMNG Global (Nasdaq: TMNG), a leading
provider of management consulting and software solution services to the global
communications, media and entertainment industries, today announced the timing
of its release of financial results for the first quarter ended March 31, 2007
and its quarterly conference call for the investment community. TMNG has
scheduled the conference call for May 31, 2007 at 5:00 p.m. (ET). TMNG Global
expects to file its Form 10-Q for the fiscal quarter ended March 31, 2007 with
the SEC and issue a press release with its first quarter 2007 earnings on or
prior to May 31, 2007.
TMNG Global was not able to file its first quarter 2007 Form 10-Q by the May 21,
2007 extended filing date under SEC Rule 12b-25 because of the effort involved
in restating its prior financial statements. Those prior financial statements
were filed on May 14 and May 16, 2007. As a result of the late filing of the
first quarter 2007 10-Q, the Company received a Nasdaq Staff Determination
Letter dated May 24, 2007 indicating the Company is not in compliance with
Nasdaq Marketplace Rule 4310(c)(14) and that this noncompliance serves as a
basis to delist the Company's common stock from the Nasdaq Global Market. The
Company provided written notice of its filing delay to Nasdaq on May 21, 2007.
Once the Form 10-Q for the quarter ended March 31, 2007 has been filed, the
Company believes it will be in compliance with all Nasdaq Marketplace Rules and
expects that its common stock will continue to be listed on the Nasdaq Global
Market.
Conference Call
The Company will host a conference call at 5:00 p.m. ET on Thursday, May 31,
2007 to discuss its first quarter earnings results. Investors can access the
conference call via a live webcast on the company's website, www.tmng.com, or by
dialing 973-935-8757, passcode 8847522. A replay of the conference call will be
archived on the company's website for one week. Additionally, a replay of the
call will be available by dialing 877-519-4471, passcode 8847522, through June
6, 2007.
About TNMG Global
TMNG Global (NASDAQ: TMNG) is a leading provider of professional services to the
converging communications industry. Its companies, TMNG, CSMG Adventis, and
Cartesian, and its base of over 500 consultants, have provided strategy,
management, and technical consulting, as well as products and
services, to more than 1200 communications service providers, entertainment,
media, and technology companies and financial services firms worldwide. The
company is headquartered in Overland Park, Kansas, with offices in Berlin,
Boston, Chicago, London, New York, Shanghai and Washington, D.C.
This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
involve risks and uncertainties. Factors that might affect actual results,
performance, or achievements include, among other things, the matters discussed
in this release, the completed restatement of the Company's historical financial
statements, future legal, accounting or regulatory developments relating to our
stock option and non-vested stock awards or our accounting for those awards,
potential claims or liability that may arise as a result of these matters, that
the accounting adjustments made by us could have negative tax implications for
the Company, the potential for delisting of our common stock on the Nasdaq Stock
Market, the effectiveness of remedial measures adopted by management and our
Board of Directors, and other actions that may be taken as a result of the
matters discussed in this release. In addition to the matters discussed in this
release, risks and uncertainties are described from time to time in our filings
with the Securities and Exchange Commission. You should not place undue reliance
on any forward-looking statements, which speak only as of the date on which they
are made. We undertake no responsibility to update any of these forward-looking
statements to reflect events or circumstances occurring after the date of this
release.