MASS - Kronos Issues Second Quarter Earnings Advisory; Y2K Impact Lingers : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread

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Title: Kronos Issues Second Quarter Earnings Advisory; Y2K Impact Lingers

Story Filed: Thursday, March 30, 2000 4:10 PM EST

CHELMSFORD, Mass., Mar 30, 2000 (BUSINESS WIRE) -- Kronos Incorporated (Nasdaq:KRON) today reported that it expects revenue and earnings for the second quarter to be below analyst expectations. Revenue for the quarter, ending April 1, is expected to be in the range of $61 to $63 million. Earnings are expected to be between $.13 and $.15 per share.

Mark S. Ain, Kronos CEO, commented on the expected results, "We are disappointed that for the first time in several years we will miss our revenue and earnings projections. What we are seeing this quarter is a slowdown in orders which we attribute to the aftereffect of Y2K. Having directed much of their capital investments into other areas during the past two quarters, decision makers seemed to use this quarter to reassess priorities and re-allocate budgets for the remainder of the calendar year. We believe that orders will get back on track later this year."

Kronos will release actual second quarter results on April 19, 2000.

About Kronos Incorporated Kronos is the world's #1 provider of solutions for frontline labor management. Founded in 1977, Kronos has been universally recognized as the pioneer of labor management systems with over 50 percent market share and 30,000 customers worldwide. The Chelmsford, Mass.-based company offers the industry's broadest suite of applications for managing employee time and activity data, scheduling the workforce, and providing frontline managers with the tools they need to measure and improve labor productivity. For more information, visit Kronos at

This press release may contain forward-looking statements that involve a number of risks and uncertainties including those relating to the potential broader use of our technology and future financial performance. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: delays in product development, product performance issues, competitive pressures, general economic conditions and other risk factors detailed in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission.

Kronos is a registered trademark of Kronos Incorporated. Distributed via COMTEX.


-- (, March 30, 2000

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