HELSINKI, Finland, April 12, 2002 (PRIMEZONE) -- The Proha Group has released its consolidated financial results for year 2001 on March 14, 2002. The fiscal year 2001 financial results of Artemis International Solutions Corporation (AISC) released today are consolidated into the released financial results of the Proha Group for 2001. The Group's financial statements are presented in detail in the Annual Report of the Proha Group, available on the Internet at www.proha.com.
Differences in the financial results of Proha Group and AISC are due to different accounting principles in the United States and Finland. The amortization expense and impairment charge shown in AISC statements are made in accordance with the accounting principles in the United States and are based on the calculated value of the Artemis acquisitions during the year 2000. The amortization expense and the impairment charge do not have any effect on the cash situation or profitability of the actual business operations of either AISC or Proha Group. The cash assets of both AISC and the Proha Group increased during the year 2001.
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