Lawson Software Stockholders Approve All Proposals at Fiscal 2007 Annual Meeting ST. PAUL, Minn.--(BUSINESS WIRE)--Oct. 18, 2007--Regulatory News: Lawson Software (Nasdaq:LWSN) announced today that its stockholders approved all proposals voted at its Annual Meeting of Stockholders held today at the company's headquarters in St. Paul, Minn. Voting results for two proposals were as follows: -- All nine directors standing for election were approved to serve during the fiscal year ending May 31, 2008. -- Stockholders voted to ratify and approve the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the company for the fiscal year ending May 31, 2008. For those who were unable to attend the meeting in person or listen to the live conference call or webcast, replay service is available for a limited time. A telephonic replay will be available for one week. The toll-free U.S. replay number is 1-866-429-0570, and the international replay number is 203-369-0912. The webcast replay will remain on www.lawson.com for approximately two weeks. Additional information about this Annual General Meeting is available on the company's website at www.lawson.com/investor. About Lawson Software Lawson Software provides software and service solutions to approximately 4,000 customers in manufacturing, distribution, maintenance and service sector industries across 40 countries. Lawson's solutions include Enterprise Performance Management, Supply Chain Management, Enterprise Resource Planning, Customer RelationshipManagement, Manufacturing Resource Planning, Enterprise Asset Management and industry-tailored applications. Lawson solutions assist customers in simplifying their businesses or organizations by helping them streamline processes, reduce costs and enhance business or operational performance. Lawson is headquartered in St. Paul, Minn., and has offices around the world. Visit Lawson online at www.lawson.com. Forward-Looking Statements This press release contains forward-looking statements that contain risks and uncertainties. These forward-looking statements contain statements of intent, belief or current expectations of Lawson Software and its management. Such forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company is not obligated to update forward-looking statements based on circumstances or events that occur in the future. Risks and uncertainties that may cause such differences include but are not limited to: uncertainties in Lawson's ability to realize synergies and revenue opportunities anticipated from the Intentia International acquisition; uncertainties in the software industry; uncertainties as to when and whether the conditions for the recognition of deferred revenue will be satisfied; global military conflicts; terrorist attacks; pandemics, and any future events in response to these developments; changes in conditions in the company's targeted industries; increased competition and other risk factors listed in the company's most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. Lawson assumes no obligation to update any forward-looking information contained in this press release. Use of Non-GAAP Financial Information In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Lawson Software reports non-GAAP financial results. These non-GAAP results exclude amortization of all acquisition-related intangibles, amortization of purchased maintenance contracts, Intentia integration costs, restructuring charges, certain stock-based compensation expenses and other expenses. In addition, Lawson's non-GAAP financial results include pro forma revenue for maintenance contracts acquired in the Intentia acquisition for which the deferred revenue on Intentia's balance sheet has been eliminated from GAAP results as part of the purchase accounting for the acquisition. Lawson's management believes the non-GAAP measures used in this press release are useful to investors because they provide supplemental information that research analysts frequently use to analyze software companies that have recently made significant acquisitions. Management uses these non-GAAP measures to evaluate its financial results, develop budgets and manage expenditures. The method Lawson uses to produce non-GAAP results is not computed according to GAAP, may differ from the methods used by other companies, and should not be regarded as a replacement for corresponding GAAP measures. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to the comparable GAAP results, which is attached to this release. CONTACT: Lawson Software Media: Joe Thornton, 651-767-6154 joe.thornton@us.lawson.com or Investors and Analysts: Barbara Doyle, 651-767-4385 barbara.doyle@us.lawson.com
Lawson Software Stockholders Approve All Proposals at Fiscal 2007 Annual Meeting
| Source: Lawson Software, Inc.