Palace Entertainment Extends Contract With Elcom
July 13 2004 - 3:00AM
PR Newswire (US)
Palace Entertainment Extends Contract With Elcom Nation's largest
family amusement and waterpark operator Extends Contract with Elcom
for its Hosted eProcurement Solution, PECOS Internet Procurement
Manager NORWOOD, Mass., July 13 /PRNewswire/ -- elcom, inc., the
wholly-owned B2B eCommerce solutions subsidiary of Elcom
International, Inc. (OTC Bulletin Board: ELCO and AIM: ELC and
ELCS), today announced that Palace Entertainment, the nation's
largest family amusement and waterpark operator, has elected to
extend its contract with Elcom for an additional three years. Under
the terms of the contract extension, Elcom will continue to provide
Palace Entertainment with on going access to PECOS Internet
Procurement Manager, Elcom's remotely- hosted, full circle, source
to pay eProcurement system. Dale Ciciora, Palace Entertainment's
Chief Financial Officer, said, "We are pleased to extend our
contract with Elcom. We have been able to automate many aspects of
our procurement process without the need for a large capital
investment or any significant involvement of our internal IT
organization. Our total cost of ownership has been very low because
of PECOS' sophisticated administration system, which enables our
personnel to control all aspects of the system without any
professional services involved by Elcom or third party technical
resources. The stability and responsiveness of the system has been
exceptional and the continued evolution of PECOS has enabled us to
address all categories of our spend. The net result has been very
positive for our business." Robert J. Crowell, Elcom International
Inc.'s Chairman and CEO, added, "In the current economic climate,
controlling costs is an important aspect of running a successful
business and we are pleased that our low cost, pay as you go
subscription based pricing delivers high value to our clients.
Palace Entertainment has proven that you do not need to spend
millions of dollars in licensing fees and professional services to
deploy a world class eProcurement system." PECOS Internet
Procurement Manager(TM) (PECOS.ipm) is Elcom's best of breed
eProcurement solution that automates the procurement process from
sourcing through financial settlement. Hosted by Elcom on its
company owned and operated data center, PECOS.ipm delivers high
value at a low cost of ownership by eliminating the need for buying
organizations to invest in infrastructure and B2B eCommerce
transactional gateways. Offered on a subscription basis, PECOS.ipm
delivers benefits to enterprises of all sizes and is redefining the
way eProcurement systems are implemented. A unique aspect of
PECOS.ipm is a comprehensive, self-service administrative system,
which empowers designated business managers with the ability to
define and refine business policies and rules without the need for
third party technical assistance. As a result, buying organizations
can embrace a continuous improvement approach to the implementation
of procurement best practices with the confidence that they are in
complete control of the system. About Palace Entertainment Palace
Entertainment is the nation's largest family amusement and
waterpark operator with over 15 million annual visitors and
operates over 34 parks in the U.S. Palace Entertainment is located
in Newport Beach, California. Additional information can be found
at http://www.palaceentertainment.com/ About Elcom International,
Inc. Elcom International, Inc.
(OTC:ELCOOTC:andOTC:AIM:OTC:ELCOTC:and ELCS) (BULLETIN BOARD: ELCO
and AIM: ELC and ELCS) , operates elcom, inc., an international B2B
Commerce Service Provider offering affordable solutions for buyers,
sellers and commerce communities to conduct business online. PECOS,
Elcom's remotely-hosted flagship solution, enables enterprises of
all sizes to achieve the many benefits of B2B eCommerce without the
burden of infrastructure investment and ongoing content and system
management. http://www.elcominternational.com/ STATEMENT UNDER THE
PRIVATE SECURITIES LITIGATION REFORM ACT Except for the historical
information contained herein, the matters discussed in this press
release could include forward-looking statements or information.
All statements, other than statements of historical fact,
including, without limitation, those with respect to the Company's
objectives, plans and strategies set forth herein and those
preceded by or that include the words "believes," "expects,"
"targets," "intends," "anticipates," "plans," or similar
expressions, are forward-looking statements. Although the Company
believes that such forward-looking statements are reasonable, it
can give no assurance that the Company's expectations are, or will
be, correct. These forward-looking statements involve a number of
risks and uncertainties which could cause the Company's future
results to differ materially from those anticipated, including: (i)
the Company's history of ongoing operating losses; (ii) the overall
marketplace and clients' acceptance and usage of eCommerce software
systems, specifically the Company's PECOS eProcurement and
eMarketplace systems, and demand therefor by public sector
organizations in the U.K., the impact of competitive technologies,
products and pricing, particularly given the substantially larger
size and scale of certain competitors and potential competitors,
control of expenses, revenue growth, and corporate demand for
eProcurement and eMarketplace solutions; (iii) the consequent
results of operations given the aforementioned factors; (iv) the
possibility that the Company's revenues may not reach the level
necessary to support positive cash flow and if so, the Company
might need to raise additional working capital to fund operations
in the future; (v) the availability and terms of any such funding
to the Company, if available, and (vi) other risks detailed in the
Company's Annual Report on Form 10-K, filed on May 10, 2004, as
amended, in its Form 10-QSB for the first quarter of 2004 filed on
May 14, 2004, and from time to time in its other SEC reports and
statements. The Company assumes no obligation to update any of the
information contained or referenced in this press release.
DATASOURCE: Elcom International, Inc. CONTACT: Investor Relations:
Web site: http://www.elcominternational.com/
http://www.palaceentertainment.com/
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