TRENTON, N.J., Jan. 6, 2005 (PRIMEZONE) -- Emtec Inc. (OTCBB:ETEC), a systems integrator providing technology solutions to enable customers to effectively use and manage data to grow their businesses, today announced that it had completed the final phase of its office consolidation plan with the sub-lease of its New York office located at 880 3rd Avenue and the move to a smaller office located at 116 West 23rd Street, New York, N.Y. "I'm happy to report that we have completed this last phase of office consolidation in our Northeast Region," said John Howlett, CEO. "After giving effect to a one-time expense of approximately $480,000, we will still have an ongoing total annual savings of approximately $500,000 from these office consolidations that began in April 2004."
About Emtec Inc.
Emtec Inc., established in 1981, is a systems integrator focused on providing technology solutions that enable its customers to effectively use and manage their data to grow their businesses. The company's areas of specialization in information technology (IT) include communications (IP telephony, wireless connectivity, cabling, network infrastructure), data availability (remote access, messaging, management), enterprise computing (enterprise architecture, high availability, server consolidation, data management), and managed services (network monitoring, help desk). Emtec's solutions are crafted to enable its customers to become more efficient and effective, thereby giving them a competitive advantage.
Forward-Looking Statements
Certain statements in this document constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Emtec Inc., or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The company's future operating results are dependent upon many factors, including but not limited to the company's ability to obtain sufficient capital or a strategic business arrangement to fund its plan of operations when needed and build the management and human resources and infrastructure necessary to support the growth of its business as well as competitive factors and developments beyond the company's control, and other risk factors discussed in the company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."
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