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Analytical Surveys Expands Use of Overseas Affiliate as Part of Global Conversion Services InitiativeIncreased Reliance on Infotech Enterprises Provides ASI with High-Quality Conversion Capacity at Significantly Lower Costs than Domestic Resources; Company Announces Reduction in Staff and Costs Associated with Domestic CapacityINDIANAPOLIS, Jan. 17 - Analytical Surveys, Inc., (ASI) (Nasdaq: ANLT), a leading provider of customized data conversion and digital mapping services for geographic information systems (GIS) and related "spatial data" markets, today announced it has taken further steps to shift an increased portion of its data conversion work to its overseas affiliate, India-based Infotech Enterprises. The ASI and Infotech strategic alliance, announced in last year's fourth fiscal quarter, commits Infotech to provide the resources necessary to meet specific long-term production needs for ASI. The Infotech services are being provided at a predetermined price structure that is well below ASI's domestic costs for similar services. Additionally, Infotech will utilize ASI's proprietary mapping software exclusively for work on ASI production projects. The expanded use of Infotech's services has resulted in decreased reliance on ASI's domestic conversion capacity. As a result, the Company has reduced its workforce by approximately 18%. ASI continues to employ approximately 905 individuals at offices in Colorado Springs, Colorado; San Antonio, Texas; Waukesha, Wisconsin; Cary, North Carolina and Indianapolis, Indiana. "We believe this restructuring of our conversion capacity will allow us to more effectively serve our customers, as we capitalize on a greater blend of overseas and domestic production," said Sidney V. Corder, president and CEO. "Additionally, by expanding our use of lower-cost data conversion services, we anticipate a meaningful, long-term decline in our production costs and associated improvements in our financial performance. Moreover, this move enhances our competitive posture as we target new global and domestic customer opportunities." Corder added, "Infotech employs a highly skilled staff that has been extensively trained on our production technologies and our quality assurance programs. The business also has achieved ISO 9000-series quality management system standards for both data conversion and software development. Customer satisfaction is of paramount importance to ASI, and we are now confident Infotech will maintain our high standards for accuracy, timeliness and overall quality. "As we stated when we originally announced our Infotech partnership, this relationship allows us to focus our domestic resources on new value-added services, research and development of new technologies and expansion into new vertical markets," Corder said. ASI recently provided publicly issued guidance related to the Company's anticipated financial performance during fiscal 2000. The anticipated costs associated with the reduction in ASI's workforce as well as the expected improvements in the Company's production costs were considered when the Company provided that guidance. Analytical Surveys is an industry leader in providing customized data conversion, digital mapping and consulting services for the spatial data markets. Geospatial data is used for a variety of applications, including the creation of geographic information systems (GIS). A GIS is a high-resolution, large-scale, richly detailed "intelligent map" that allows users to input, update, query, analyze and display detailed information about a geographic area. Geographic information systems are widely used by utilities, state and local governments, federal agencies and commercial businesses to manage massive infrastructures effectively, to improve operating efficiencies and to analyze future demand for facilities. The Company's traditional markets have been utilities and state and local governments. The Company also is expanding its target markets by offering a broad new range of services. Certain statements made in this news release are forward-looking statements within the meaning of the Private Securities Litigation Act of 1995. Results may differ materially from the Company's expectations. A number of uncertainties and other factors could cause actual results to differ materially from such forward-looking statements, including, but not limited to, the possibility that the Company will not be awarded contracts in the numbers, for the amounts, or at the time that the Company currently expects, and therefore, that overall contract volume does not increase. The forward- looking statements are also based on assumptions related to the growth of the Company's consulting services, as to which there can be no assurance. A more detailed description of factors that could affect the Company's financial results are included in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. |
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