EDMONTON, Oct. 3 /CNW/ - Matrikon Inc. (TSX:MTK) is pleased to provide a
corporate update on activities since its last quarterly financial report,
released on July 8, 2008.
President & CEO Nizar J. Somji commented: "At the beginning of fiscal
2008, we set out to turn Matrikon around. We've made tremendous progress,
achieving many of our goals and going beyond the turnaround to set the stage
for future growth. Our focus now is on profitable growth.
"Given the volatile market environment, we want to ensure that our
shareholders are properly informed about our business and the impact that the
macroeconomic climate may have.
"There has been no change in the operational aspects of Matrikon's
business or opportunities, and our opportunities in the resource sectors
remain particularly strong.
"A slowdown in the resource sector does not implicate a softening in
Matrikon's business or pipeline, in fact the opposite. When oil and other
resource prices are at their peak, operating companies generally focus their
energy and scarce resources on exploration rather than the type of solutions
that Matrikon provides, which serve to optimize efficiency and maximize the
performance of existing operations.
"Additionally, we do not expect a weaker general economy or the US
financial sector crisis to impact our business. Matrikon's client base is
largely comprised of Global 500 companies, with over 40% of sales coming from
"We have every confidence in our future. We believe the decline in our
stock is an over-reaction not reflecting the true value of our company. We
thank our shareholders for supporting us through this volatile environment."
Matrikon expects to release full year results on November 10, 2008.
Matrikon (www.matrikon.com) is a leading provider of integrated
industrial intelligence solutions that enable manufacturing plants to achieve
operational excellence by transforming production data into knowledge to
predict and prevent problems and optimize operations. Matrikon's customers
achieve agile operations through the combination of external market and plant
data to make informed, intelligent decisions in real-time. With offices in
major cities throughout North America, Australia, Europe and the Middle East
and a global client base including industry leaders in a wide range of process
industries, Matrikon's reach is global.
Matrikon is a registered trademark of Matrikon Inc.
Forward Looking Statements
In order to provide our investors with an understanding of our current
results and future prospects, our communications often include written or oral
forward-looking statements. This news release and other material filed with
the Canadian securities regulators contain statements that are
forward-looking. These statements are made pursuant to the "safe harbor"
provisions of applicable Canadian securities legislation. These statements
represent Matrikon's intentions, plans, expectations and beliefs and are based
on our experience and our assessment of historical and future trends and the
application of key assumptions relating to future events and circumstances.
These statements may include, but are not limited to, comments about our
objectives and priorities for 2008 and beyond, strategies and targets,
expectations for our financial condition, and the outlook for our operations
and external factors that may impact results, including global economies and
Forward-looking statements require assumptions and involve risks and
uncertainties related to our business and the general economic environment,
many beyond our control. There is significant risk that the predictions,
forecasts, conclusions or projections we make will not prove to be accurate
and that our actual results will be materially different from the targets,
expectations, estimates or intentions expressed in the forward-looking
statements. We caution readers of this information circular not to place undue
reliance on our forward-looking statements.
The future outcomes that relate to forward-looking statements may be
influenced by many factors, including but not limited to: general economic
conditions in the countries in which we operate; currency fluctuations; market
demand for our products and services; our ability to execute projects and
deliver solutions; our ability to execute our strategic plans and to complete
and integrate acquisitions; the degree of competition in the geographic and
business areas in which we operate; our ability to attract and retain
qualified employees and contain payroll costs; our ability to contain
expenses; technological changes and research and development; the length of
the sales cycle required to close larger solution contracts; availability of
financial resources to carry out our strategy; our ability to protect our
intellectual and intangible properties; legal claims; critical accounting
estimates; the possible effects on our business of war or terrorist
activities; disease or illness that affects local, national or international
economies; and disruptions to public infrastructure, such as transportation,
communications, power or water supply. We caution that this list is not
exhaustive of all possible factors.
Other factors could adversely affect our results. For more information,
please see the discussion on the principal risks that could affect our
results, beginning on page 44 of Matrikon's 2007 Annual Report.
When relying on forward-looking statements to make decisions with respect
to Matrikon, investors should carefully consider these factors, as well as
other uncertainties and potential events, and the inherent uncertainty of
forward-looking statements. Unless required by law, we do not undertake to
update any forward-looking statement, whether written or oral, that may be
made from time to time by the company or on its behalf.
For further information:
For further information: Nicole Sayler, Corporate Communications
Director, (780) 945-4010, (877) 628-7456 x 4010, email: