HOUSTON, Jan. 26, 2004 (PRIMEZONE) -- The Project Group, Inc. (OTCBB:PJTG), a leading integrator of Microsoft(r) Project and provider of business initiative services to Fortune 1000 companies, today announced its Strategic Initiatives for 2004. The announcement was made by Craig Crawford, President of The Project Group.
Mr. Crawford stated, "With the commencement of our first quarter, the company is now announcing our Strategic Initiatives. These Initiatives support our core mission: to extend the Company's field-proven, high-margin business model across domestic and international markets. As our past successes illustrate, our strategy is working. In fact, Microsoft recently recognized our accomplishments by naming The Project Group a Premier Solutions Provider. With this designation, The Project Group is now recognized as a global, top-tier partner and shares many Fortune 1000 clients with Microsoft. These clients include some of the most recognizable corporate names in the world."
The Company recently logged the following accomplishments:
-- Microsoft Names The Project Group Premier Solutions Provider
(December 10, 2003)
-- The Project Group Announces Expansion of Contract With Southwest
Airlines (December 3, 2003)
-- The Project Group Announces Projected 275% Increase in Revenue for
2004 (November 26, 2003)
-- The Project Group wins ten new clients in the past six months,
including: Wal-Mart, Halliburton, Waste Management, Texas
Industries Inc., Cooper Cameron, Tetra Technology, Affiliated
Computer Services, Carter Burgess Inc., and Solvay S.A
Strategic Initiative 1 - Market Expansion:
Growth is the key driver at The Project Group. The Company was built by seasoned project management experts who understand the advantages of a modular, scalable business model and equally flexible infrastructure. The Project Group, by design, can deploy teams anywhere in the world with equal efficiency. Since there are no vertical market boundaries hindering growth, The Project Group can effectively service organizations engaged in any business.
The Project Group's recently earned Microsoft Premier Solution Provider designation positions the Company to participate in lead-sharing of clients across the globe. Project-related leads that come into Microsoft flow through its partner portal to The Project Group. Additionally, Microsoft often directly engages The Project Group to implement its software, provide training and ongoing program management on behalf of its customers.
Strategic Initiative 2 - Proprietary Software:
The Project Group enjoys distinct competitive advantages based on extensive product knowledge, proprietary technologies and business initiative processes. As a leading integrator of Microsoft Project, The Project Group's continued growth depends in part of developing significant value-added products and services.
The Company recently unveiled its Web-based digital dashboard product. Management describes it as, "An information hierarchy based in sound project management methodology that provides a snapshot view of key business metrics." It is, in essence, a reporting tool that enables client management and The Project Group's program personnel to create real-time reports and view business-critical data generated by Microsoft Project.
The Project Group will continue to develop proprietary products, application add-ons, training regimens and key processes that will differentiate the Company's offerings, reinforce its leadership position and contribute to accelerated growth.
Strategic Initiative 3 - Recruitment of Key Personnel:
The nature of The Project Group's strategic plan allows for the rapid assemblage and deployment of teams to client sites. Team functionality and performance is determined by strict procedure and policy. This allows the Company to provide consistent, exemplary service to any client, regardless of the nature of their business or their location.
Teams are assembled on an as-needed basis, providing higher margins through lowered overhead. Given the surplus of highly qualified technology workers seeking contract employment, The Project Group has little trouble meeting demand for its services. Additionally, with The Project Group's leadership position in its industry, management has the luxury of picking the best and brightest professionals to augment their own ranks.
Modular and scalable by design, The Project Group anticipates a smooth transition from smaller solutions provider to global powerhouse.
Financial Summary
The Project Group is well positioned to capitalize on its leadership status and sales momentum. With a wealth of new Fortune 1000 contracts and a strengthened relationship with Microsoft, the Company's management and board of directors eagerly anticipate the coming year.
On January 16, 2004, in its reiterated guidance for 2004, the Company announced that it anticipates revenues in excess of $6 million for 2004. Additionally, The Company also anticipates the gross revenue for 2003 of approximately $1.94 million.
Mr. Crawford concluded, "For some companies, rapid growth can be both blessing and burden. For The Project Group, growth has always been built into the Company's strategic plan. We are now reaping the fruits of this forethought with continued growth in market share, revenue and value to our investors."
About The Project Group
The Project Group Inc., a Microsoft Gold Certified Partner, is an emerging growth information technology company specializing in project management advisory services, implementation services, configuration, custom programming and other related products and services using its proprietary methods. The Project Group has provided its expertise to the Fortune 1000 including Waste Management (WMI), Microsoft (MSFT) and Texas Industries Inc. (TXI). PJTG, headquartered in Houston, Texas, was founded in 2001 by senior project managers with broad Fortune 1000 project experience. PJTG focuses on providing enterprise based project management solutions and improving project schedule and budget performance for its customers throughout the United States and world. The company focuses on providing enterprise-based project management tools and solutions and improving project performance for its customers throughout the United States and around the world. Its clients include many of the largest and most prestigious corporations in the world, including Wal-Mart, Microsoft Corporation, Halliburton, Waste Management, Lukoil and Ernst & Young.
Cautionary Language
This press release contains 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. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated by these statements. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new opportunities, and the unpredictable nature of business risks; as well as other factors set forth in the Company's most recent filings with the SEC. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. The Company assumes no obligation to update the statements contained in this release.