Matrikon Releases Guidance for 2006 and Announces Executive Team Promotion | Automation.com

Matrikon Releases Guidance for 2006 and Announces Executive Team Promotion

July 202005
  • Fiscal year 2006 revenue expected to be $75 - 77 million (representing growth of 15 - 18% over current fiscal year 2005 estimates)
  • Fiscal year 2006 net income expected to be $7 - 8.5 million (representing growth of 40 - 70% over current fiscal year 2005 estimates)
  • Amin Rawji promoted to President
  • Nizar J. Somji will remain as CEO to focus on strategic initiatives

    Edmonton, Alberta - July 20, 2005 - Matrikon Inc. (TSX:MTK), a leading provider of solutions for integrated industrial intelligence, today announced fiscal 2006 revenue and net income expectations following its annual strategic planning session.

    Revenue is expected to be in the range of $75 - $77 million and net income is expected to be in the range of $7 - $8.5 million. This guidance reflects Matrikon's current business indicators and expectations. Various factors could cause actual results to differ materially from these expectations, including but not limited to foreign currency fluctuations relative to the Canadian dollar.

    To manage the company's continued growth and in accordance with Matrikon's strategic plan, the board of directors is also pleased to announce that Amin Rawji has been promoted to president. Mr. Rawji joined Matrikon in 1998 as manager of the Industrial Connectivity Division. Over the next three years, Mr. Rawji transformed the division from a six person $350,000 group into a 20 person, $3 million group, making it one of the company's most profitable divisions. His career at Matrikon has included senior appointments in product development, the services division and sales and marketing. Mr. Rawji also played key roles in the acquisitions of Resolution Integration Solutions, PIA and Hunter Control.

    Mr. Rawji's involvement in day-to-day operations over the past several years will make the transition seamless and enable CEO Nizar J. Somji to focus on strategic initiatives to drive growth, and to provide mentorship to high potential leaders to further develop internal capacity.

    "We are excited about our opportunities for the future, and with Amin's promotion to president and the depth added to the senior management team last October, Matrikon has a solid foundation for continued growth and success. We are well positioned to reach our targets for 2006," stated Mr. Somji.

    About Matrikon Inc.
    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 manufacturing and process industries, Matrikon's reach is global.

    Matrikon is a trademark of Matrikon Inc.

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