Event Summary
On May 8, Infinium Software (NASDAQ: INFM), a provider of Web-integrated enterprise business solutions, announced that Rampart Resort Management, operators of The Rampart Casino at the Resort at Summerlin and owner/operators of The Cannery Hotel and Casino, selected Infinium Financial Management, Human Resources, and Payroll solutions to support its ambitious expansion and growth strategies. In an effort to provide its patrons with a world-class gaming experience, Rampart Resort Management is investing $6 million in The Rampart Casino at the Resort at Summerlin to renovate the property to better serve its patrons, more than double its hotels convention space, and hire up to 150 people to join the casinos 310-person workforce in time for its "Grand Re-Opening" set for June, 2002.
In support of its ambitious expansion and growth strategies, Rampart Resort Management began to evaluate enterprise business solutions and reportedly narrowed their search to include: PeopleSoft, J.D. Edwards, and Infinium. Rampart Resort Management reportedly selected Infinium because of its long-established, in-depth understanding and commitment to the hospitality and gaming industry; its over 20 year commitment to the IBM iSeries (formerly AS/400) platform, which is regarded by many to offer strong platform reliability at the lowest total cost of ownership (TCO); its iSeries channel partnership with Computer Configuration Services (CCS); its competitive functionality, utilization of innovative technologies, rapid implementations, and outstanding customer service. Infinium's solutions are used at more than 60% of the Fortune 500 companies in the hospitality industry, approximately 90% of the hotels and casinos on the Las Vegas Strip, and 100% of the Fortune 500 companies in the gaming industry.
To illustrate its unrelenting commitment to the iSeries platform, on April 29, Infinium announced that it has signed IBM eServer iSeries channel partnership agreements with Computer Configuration Services (CCS); Dynamix Group; Essex Technology Group, Inc.; Inter-American Data, Inc. (IAD); Mainline Information Systems, Inc.; and Sirius Computer Solutions (SCS) to increase its revenues and grow its customer base. As part of Infinium's relationship with its new IBM iSeries channel partners, those partners' sales forces will become an extension of Infinium's direct sales force. Infinium and its iSeries channel partners will allocate internal resources to develop joint marketing programs that promote their respective offerings and enhance their awareness within targeted markets, generate sales leads, and ultimately, drive new business revenues. All of Infiniums iSeries channel partners were selected by Infinium based on several, specific criteria including: number of existing customers, number of U.S. sales representatives, geographical coverage, technical competence, and vertical market expertise, among others.
Further, in its endeavor to create another strong vertical industry awareness, on April 23, Infinium announced that Catholic Medical Center, a 330-bed full-service healthcare facility in Manchester, NH, selected Infinium's Financial Management and Materials Management solutions to streamline its non-clinical operations. As part of its strategic initiatives to reduce costs and enhance operating efficiencies, Catholic Medical Center reportedly began evaluating high return-on-value (ROV), low TOC enterprise business solutions and selected Infinium's solutions to streamline and automate its processes to reduce the time and money spent on its non-clinical operations, freeing those resources to focus on delivering the highest-quality of patient care. More than 100 healthcare organizations, ranging in size from 100 to 800-plus beds, reportedly rely on Infinium's solutions to help streamline their non-clinical business operations, reduce administrative costs, and maximize their capital and human resources. Infinium believes its solutions provide healthcare organizations with the ability to:
* Reduce administrative costs
* Streamline business processes and improve workflow
* Manage constant change
* Recruit, retain, and maximize the value of professional staff
* Ensure compliance with JCAHO (Joint Commission on Accreditation of Healthcare Organizations), HIPAA (Health Insurance Portability and Accountability Act), and OSHA (Occupational Safety and Health Administration) 300 regulations
* Interface easily with leading insurance processing, medical practice, clinical information, and inventory and supply management solutions
To point out success in its third vertical industry of focus, on March 28, Infinium announced that Crest Foods Company, a process manufacturer with ingredient, consumer products and contract packaging divisions, enhances the efficiency and increases the productivity of its operations with Infinium's Process ERP solution. Infinium's integrated Process ERP solution, which includes: Process Manufacturing, Materials Management, Human Resources (HR), and Financial Management, streamlines Crest Foods operations, from formula to accounting, and unites everyone in its organization, from operations managers to the CFO. All departments, from human resources to shipping, reportedly operate from the same page, with the same updated information, creating administrative efficiencies from division to division and allowing for timely adjustments according to market demands and fluctuations.
For example, Infinium Advanced Planning helps Crest Foods production planners, schedulers, and buyers determine a time-phased production schedule and calculate the amount of critical resources needed to fulfill it on time. Thereafter, Crest Foods scheduled requirements are fed into Infinium Purchase Management and Manufacturing Control to automatically create purchase and production orders. Infinium Manufacturing Control helps Crest Foods maintain, update, and provide detailed, real-time information for production, including batch scheduling, instructions processing, and batch ticket and production order printing. Designed from the ground-up for formula-based process manufacturing operations, Infinium Process Manufacturing solution captures and reports in logical combinations all the cost resources, raw materials, labor, containers, machines, and burdens and might particularly be effective in environments like Crest Foods where the production process can change dramatically.
The above-espoused renewed focus resulted in improving financial performance according to Infinium's April 22 announcement of its financial results for the second quarter of fiscal year 2002 that ended March 31, 2002. Software license fees for Q2 2002 were $2.9 million, a 34% increase compared to $2.2 million for the previous quarter, and a 3% decline compared to $3.0 million for Q2 2001. Total revenues for Q2 2002 were $16.5 million, a 1% increase compared to $16.3 million for the previous quarter, and still a 13% decrease compared to $18.9 million for Q2 2001 (see Figure 1 below). However, net income for the quarter was $3.5 million including a $337,000 gain from the divestiture of a Netherlands subsidiary, compared to $2.7 million Q1 2002, and the net loss of $2.9 million the second quarter of the prior year. Also important, Infinium's cash, cash equivalents and marketable securities balance for Q2 2002 was $17.5 million, compared to $13.7 million for the previous quarter, and $15.3 million for the fiscal year ended September 30, 2001.
SOURCE:
http://www.technologyevaluation.com/research/articles/infinium-returns-to-its-core-competencies-to-succeed-part-1-recent-announcements-16665/
On May 8, Infinium Software (NASDAQ: INFM), a provider of Web-integrated enterprise business solutions, announced that Rampart Resort Management, operators of The Rampart Casino at the Resort at Summerlin and owner/operators of The Cannery Hotel and Casino, selected Infinium Financial Management, Human Resources, and Payroll solutions to support its ambitious expansion and growth strategies. In an effort to provide its patrons with a world-class gaming experience, Rampart Resort Management is investing $6 million in The Rampart Casino at the Resort at Summerlin to renovate the property to better serve its patrons, more than double its hotels convention space, and hire up to 150 people to join the casinos 310-person workforce in time for its "Grand Re-Opening" set for June, 2002.
In support of its ambitious expansion and growth strategies, Rampart Resort Management began to evaluate enterprise business solutions and reportedly narrowed their search to include: PeopleSoft, J.D. Edwards, and Infinium. Rampart Resort Management reportedly selected Infinium because of its long-established, in-depth understanding and commitment to the hospitality and gaming industry; its over 20 year commitment to the IBM iSeries (formerly AS/400) platform, which is regarded by many to offer strong platform reliability at the lowest total cost of ownership (TCO); its iSeries channel partnership with Computer Configuration Services (CCS); its competitive functionality, utilization of innovative technologies, rapid implementations, and outstanding customer service. Infinium's solutions are used at more than 60% of the Fortune 500 companies in the hospitality industry, approximately 90% of the hotels and casinos on the Las Vegas Strip, and 100% of the Fortune 500 companies in the gaming industry.
To illustrate its unrelenting commitment to the iSeries platform, on April 29, Infinium announced that it has signed IBM eServer iSeries channel partnership agreements with Computer Configuration Services (CCS); Dynamix Group; Essex Technology Group, Inc.; Inter-American Data, Inc. (IAD); Mainline Information Systems, Inc.; and Sirius Computer Solutions (SCS) to increase its revenues and grow its customer base. As part of Infinium's relationship with its new IBM iSeries channel partners, those partners' sales forces will become an extension of Infinium's direct sales force. Infinium and its iSeries channel partners will allocate internal resources to develop joint marketing programs that promote their respective offerings and enhance their awareness within targeted markets, generate sales leads, and ultimately, drive new business revenues. All of Infiniums iSeries channel partners were selected by Infinium based on several, specific criteria including: number of existing customers, number of U.S. sales representatives, geographical coverage, technical competence, and vertical market expertise, among others.
Further, in its endeavor to create another strong vertical industry awareness, on April 23, Infinium announced that Catholic Medical Center, a 330-bed full-service healthcare facility in Manchester, NH, selected Infinium's Financial Management and Materials Management solutions to streamline its non-clinical operations. As part of its strategic initiatives to reduce costs and enhance operating efficiencies, Catholic Medical Center reportedly began evaluating high return-on-value (ROV), low TOC enterprise business solutions and selected Infinium's solutions to streamline and automate its processes to reduce the time and money spent on its non-clinical operations, freeing those resources to focus on delivering the highest-quality of patient care. More than 100 healthcare organizations, ranging in size from 100 to 800-plus beds, reportedly rely on Infinium's solutions to help streamline their non-clinical business operations, reduce administrative costs, and maximize their capital and human resources. Infinium believes its solutions provide healthcare organizations with the ability to:
* Reduce administrative costs
* Streamline business processes and improve workflow
* Manage constant change
* Recruit, retain, and maximize the value of professional staff
* Ensure compliance with JCAHO (Joint Commission on Accreditation of Healthcare Organizations), HIPAA (Health Insurance Portability and Accountability Act), and OSHA (Occupational Safety and Health Administration) 300 regulations
* Interface easily with leading insurance processing, medical practice, clinical information, and inventory and supply management solutions
To point out success in its third vertical industry of focus, on March 28, Infinium announced that Crest Foods Company, a process manufacturer with ingredient, consumer products and contract packaging divisions, enhances the efficiency and increases the productivity of its operations with Infinium's Process ERP solution. Infinium's integrated Process ERP solution, which includes: Process Manufacturing, Materials Management, Human Resources (HR), and Financial Management, streamlines Crest Foods operations, from formula to accounting, and unites everyone in its organization, from operations managers to the CFO. All departments, from human resources to shipping, reportedly operate from the same page, with the same updated information, creating administrative efficiencies from division to division and allowing for timely adjustments according to market demands and fluctuations.
For example, Infinium Advanced Planning helps Crest Foods production planners, schedulers, and buyers determine a time-phased production schedule and calculate the amount of critical resources needed to fulfill it on time. Thereafter, Crest Foods scheduled requirements are fed into Infinium Purchase Management and Manufacturing Control to automatically create purchase and production orders. Infinium Manufacturing Control helps Crest Foods maintain, update, and provide detailed, real-time information for production, including batch scheduling, instructions processing, and batch ticket and production order printing. Designed from the ground-up for formula-based process manufacturing operations, Infinium Process Manufacturing solution captures and reports in logical combinations all the cost resources, raw materials, labor, containers, machines, and burdens and might particularly be effective in environments like Crest Foods where the production process can change dramatically.
The above-espoused renewed focus resulted in improving financial performance according to Infinium's April 22 announcement of its financial results for the second quarter of fiscal year 2002 that ended March 31, 2002. Software license fees for Q2 2002 were $2.9 million, a 34% increase compared to $2.2 million for the previous quarter, and a 3% decline compared to $3.0 million for Q2 2001. Total revenues for Q2 2002 were $16.5 million, a 1% increase compared to $16.3 million for the previous quarter, and still a 13% decrease compared to $18.9 million for Q2 2001 (see Figure 1 below). However, net income for the quarter was $3.5 million including a $337,000 gain from the divestiture of a Netherlands subsidiary, compared to $2.7 million Q1 2002, and the net loss of $2.9 million the second quarter of the prior year. Also important, Infinium's cash, cash equivalents and marketable securities balance for Q2 2002 was $17.5 million, compared to $13.7 million for the previous quarter, and $15.3 million for the fiscal year ended September 30, 2001.
SOURCE:
http://www.technologyevaluation.com/research/articles/infinium-returns-to-its-core-competencies-to-succeed-part-1-recent-announcements-16665/
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