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Merlin Software Technologies Provides Update For 4th Quarter 2001 and Projects Sales of $1.2 - 1.5 Million for Q1 2002 |
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Burnaby, BC - January 9, 2002 - At the beginning of 2002 Merlin Software Technologies International, Inc. (OTCBB: MLSW) moved away from packaged software products and focused on building complete system solutions for high growth markets. In late November Merlin began shipments of our first two lead products, EssentialServerTM and SecurDVRTM. In conjunction with the announcement of the new products, Merlin began an aggressive sales building process with the appointment of Robert Murray, former General Manager of Compaq Computer Corporation's (NYSE: CPQ) North American networking products business unit as the new CMO for Merlin, the authorization of 60 value added resellers across Canada, the opening of a Toronto office and the hiring of former Ingram Micro Sales Manager, Mark Lynus to lead the Eastern Canada region. During the approximately 40 days that the products were available during the fourth quarter of 2001, purchase orders were received from a number of Western Canada's top computer resellers including MicroAge, CompuSmart and Optima Networks. We expect to report increased revenues over those of the previous six quarters. The company's SecurDVR is being well received by the major security integrators in Canada. Volume orders have been received to provide enhanced surveillance capability for a number of banks, trust companies and educational facilities. "We are extremely happy with the level of interest in our new products," said Robert Murray, Chief Marketing Officer. "Indications are strong that we will be able to meet our goals for the first quarter of 2002, as we expect to close a number of significant opportunities that were brought to us by our resellers late last year." Financial Guidance For the first quarter ending March 31, 2002, we are providing the following guidance to reflect our current business indicators and expectations. Because of revenue recognition requirements, we expect that many of our December sales will not be recognized until the first quarter ending March 31, 2002. With this in mind, and taking into account the level of interest from distributors and resellers, we anticipate our first quarter revenues to be between US$1.2 - US$1.5 million. According to Robert Heller, President and CEO, "We are at the beginning of what we believe will be a watershed quarter for Merlin. We expect to close on a number of significant opportunities identified by our sales and marketing group in the last quarter. These opportunities include major distribution agreements in the United States, Canada, Europe, the Middle and Far East." Conference Call We plan to host a conference call to review our results with the release of our audited financial statements for the year ended December 31, 2001, which is anticipated to occur in mid to late February 2002. We will be making a further announcement in due course to confirm the date of the conference call, and to provide interested parties with instructions on how to participate in the conference call. About Merlin Software Technologies International, Inc. Merlin integrates leading-edge technologies into affordable, high-performance data storage and protection solutions for small to medium-sized business. Designed to protect critical data, commercial assets and the people who use those assets, Merlin's product lines utilize state-of-the-art digital storage and back-up capabilities. Merlin's EssentialServerTM provides easy-to-use information protection and recovery solutions for data intensive operations. The company's SecurDVR is a security and loss prevention system designed to monitor and protect the physical and human assets of any commercial enterprise. Merlin has offices in Burnaby, British Columbia, Toronto, Ontario and Seattle, Washington. For more information, contact:
Legal Notice Regarding Forward-Looking Statements Statements in this press release which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include but are not limited to our belief that we will be able to close a number of significant opportunities in the current quarter, including major distribution agreements in the United States, Canada, Europe and the Middle and Far East. It is important to note that Merlin's actual results and outcomes may differ materially from those contained in the forward-looking statements contained in this press release. Our expectations regarding future revenues - and specifically our revenue expectations of US$1.2 - US$1.5 million by the end of Q1 2002 - depend on, among other things, continued market interest in and market acceptance of our, continued development of our EssentialServerTM and SecurDVRTM products, and our ability to supply products that will meet with the expectations of our resellers and their customers. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties relating to such things as changes in technology, the introduction of competing products by our competitors, the ability of resellers and distributors to successfully market and sell our products, our ability to continue to raise funding to sustain our continuing operations, and the overall success of Merlin in general. Although Merlin believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Readers should refer to the risk disclosures outlined in the Company's quarterly report on Form 10-QSB for the quarter ended September 30, 2001 and its other periodic reports filed with the Securities and Exchange Commission.  Back to index page
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