KING OF PRUSSIA, Pa., June 22, 2004 (PRIMEZONE) -- Neoware Systems (Nasdaq:NWRE), the leading supplier of award-winning software, services, and appliances for thin client computing, today announced that Michael Kantrowitz, the Company's Chairman and CEO, was chosen by professional services firm Ernst & Young LLP as a winner of the Ernst & Young Entrepreneur of the Year 2004 Awards. Neoware Systems was selected from nominations in Greater Philadelphia & Central-Eastern Pennsylvania by a panel of judges comprised of local community and business leaders. Award recipients were announced at an awards banquet on June 18, 2004.
Michael Kantrowitz was appointed CEO of Neoware Systems in February 2000, to develop and implement the Company's growth strategy in the thin client market. Neoware is now the leading supplier of award-winning software, services, and appliances for thin client computing with revenues of $57 million for FY 2003. Neoware's software, services and thin client appliances are making computing more open, secure, reliable, affordable, manageable and obsolete-free for thousands of customers and millions of users around the globe, including Bed Bath & Beyond, Cook County Circuit Courts, Gap, Geodis Logistics, Harrahs, Kroger, Lufthansa, Federated Department Stores, Manpower, Pathmark, Royal Bank of Canada, University of NC Hospitals, the Veterans Administration Hospitals, and WalMart. Neoware's products are available from a worldwide network of trained, authorized business partners, including IBM.
The Entrepreneur of the Year awards program was created and is produced by professional services firm Ernst & Young LLP. As the first award of its kind, Ernst & Young Entrepreneur of the Year recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. The program honors entrepreneurs through regional, national and global award programs in over 100 cities and 35 countries. Past recipients of this prestigious award include: Jim McCann of 1-800-Flowers.com, Jeff Bezos of Amazon.com, Richard Schulze of Best Buy Co., Inc., Michael Dell of Dell, Inc., and Howard Schultz of Starbucks Corp.
About Ernst & Young
Ernst & Young, a global leader in professional services, is committed to restoring the public's trust in professional services firms and in the quality of financial reporting. Its 103,000 people in more than 140 countries around the globe pursue the highest levels of integrity, quality, and professionalism to provide clients with solutions based on financial, transactional, and risk-management knowledge in Ernst & Young's core services of audit, tax, and transaction services. Further information about Ernst & Young and its approach to a variety of business issues can be found at www.ey.com/perspectives. Ernst & Young refers to all the members of the global Ernst & Young organization.
About Neoware
Neoware's software, services, and thin client appliances make computing more secure, manageable, reliable and affordable by enabling global enterprises to fully leverage server-based computing. By incorporating open, standards-based technologies and eliminating the obsolescence that is built into standard PC architectures, Neoware provides enterprises with increased flexibility and choice, as well as lower up-front and total costs.
Neoware's software products enable enterprises to gain control of their desktops, and to integrate mainframe, midrange, UNIX and Linux applications with Windows(r) and the web. Neoware's thin client appliances enable enterprises to run applications on servers, and display them across wired or wireless networks on secure, managed, reliable appliances that cost as little as one fourth the price of today's typical business PC. Neoware services enable corporations to benefit from server-based computing with training and end-to-end support.
Neoware's products are available worldwide from IBM, as well as from select, knowledgeable resellers. More information about Neoware can be found on the Web at http://www.neoware.com or via email at invest@neoware.com. Neoware is based in King of Prussia, PA.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding: our expectation of gaining market share as a result of our new product introductions; the growth of the thin client segment of the PC industry; our belief as to Open Management increasing thin client sales; and the benefits of our business model allowing customers to lower ongoing costs of technology ownership. These forward-looking statements involve risks and uncertainties. Factors that could cause actual results to differ materially from those predicted in any such forward-looking statement include acceptance of our thin client products, pricing pressures, rapid technological changes in the industry, growth of the Appliance Computing market, increased competition, our ability to attract and retain qualified personnel, adverse changes in general economic conditions in the U.S. and internationally and political and economic uncertainties associated with current world events. These and other risks are detailed from time to time in Neoware's periodic reports filed with the Securities and Exchange Commission, including, but not limited to, its report on Form 10-K for its fiscal year ended June 30, 2003 and Forms 10-Q for the quarters ended September 30, 2003 and December 31, 2003.