ITEM 1
STARLIMS Provides
Preliminary Third Quarter 2008 Results
HOLLYWOOD, Florida, October 6, 2008
– STARLIMS Technologies Ltd. (Nasdaq:LIMS), a leading provider of laboratory
information management systems (LIMS), announced today that the Company expects to report
third quarter 2008 revenue of approximately $5 million and a GAAP earnings per share of
$(0.03) to $0.01 and a Non-GAAP earnings per share of $(0.02) to $0.02.
“Our business in the third
quarter was impacted by increased tightening of IT budgets resulting in smaller initial
deal sizes and elongated sales and implementation cycles,” stated Itschak Friedman,
STARLIMS’s Chief Executive Officer. “However, we continue to have a strong and
growing pipeline and are seeing ongoing customer commitments to their LIMS projects driven
by standardization and harmonization initiatives, government regulation and replacement
cycles.
“In response to the financial
crisis and the increased pressure on IT capital expenditure budgets, we are working with
customers on phased licensing and implementation programs of multi-site STARLIMS
deployments that better align with their current IT spending patterns. We are leveraging
our leadership position and financial strength to build these sustainable long-term
relationships with our customers and further expand market share. We believe that these
phased roll-out programs should ultimately result in overall deal sizes that are in line
with historical company averages,” continued Itschak Friedman.
STARLIMS continues to see global
demand for its STARLIMS v10 product, including several seven-figure deals in the pipeline.
The field-proven web-based platform continues to be a key differentiator for STARLIMS, as
customers are looking for integrated solutions to help them meet the growing need for
enterprise-wide laboratory information management solutions which present long-term
operational efficiencies and improved return on investment.
STARLIMS management is currently
reviewing the opportunity pipeline and will address 2008 guidance on the third quarter
financial results conference call scheduled for Tuesday, November 18, 2008 before the
market opens.
Conference Call to
Discuss Preliminary Results
STARLIMS will host a live conference
call to discuss the preliminary results on Monday, October 6, at 8:30 a.m. Eastern Time
(14:30 Israeli Time). The listen-only webcast can be accessed from the Investor Relations
page of the company’s web site at
http://www.starlims.com
. Those interested in
participating in the call and the question and answer session should dial 303-262-2143.
The webcast will be archived on the
Investor Relations page of the company’s website,
http://www.starlims.com
,
starting at 10 a.m. Eastern Time on Monday, October 6, 2008.
About STARLIMS
STARLIMS Technologies Ltd. (Nasdaq:
LIMS) is a leading provider of laboratory information management systems (LIMS), with over
20 years of LIMS experience. The Company’s flagship product, STARLIMS®, improves
the reliability of laboratory sampling processes, supports compliance with domestic and
international regulations and industry standards, and provides comprehensive reporting,
monitoring and analysis capabilities. STARLIMS software is used for quality assurance and
control, testing and monitoring, and research and development in government, manufacturing
and life sciences organizations. With operations in the United States, Canada, the United
Kingdom, Israel and Hong Kong, the company serves over 500 organizations in 40 countries.
For more information, please see
http://www.starlims.com
.
Safe Harbor for
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties
which could cause the actual results, performance or achievements of the company to be
materially different from those which may be expressed or implied by such statements,
including, among others, changes in general economic and business conditions, changes in
demand for products and services, the timing and amount or cancellation of orders, loss of
market share and other risks detailed from time to time in STARLIMS’s filings from
time to time with the Securities and Exchange Commission. Such filings contain and
identify these and other important factors that could cause actual results to differ
materially from those contained in our projections or forward-looking statements.
Shareholders and other readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date on which they are made. We
undertake no obligation to update publicly or revise any forward-looking statement.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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|
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STARLIMS Technologies Ltd.
(Registrant)
By: /s/ Chaim Friedman
——————————————
Chaim Friedman
Chief Financial Officer
|
Date: October 6, 2008
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