It was .12 x .15 before a wave of buying came in Level II is strong:
(Applies to: SSGI)
SSGI Adds Westinghouse to Client List; Company Surpasses Q1 Revenues in First Half of Q2
ANNAPOLIS, Md., May 15, 2001 /PRNewswire via COMTEX/ -- Strategic Solutions Group, Inc. (OTC Bulletin Board: SSGI), a leading services provider of technology-based training and just-in-time information applications for the manufacturing market, today announced that the Company has been awarded eight new contracts in the first four months of 2001 with a total approximate value of $1.2 million. SSGI officials also announced that the Company has crossed the $300,000 plateau in revenue for its current quarter, already exceeding its total first quarter revenue.
Four of the eight new contracts are with non-automotive manufacturers who are first time clients for SSGI. This validates the strategic emphasis SSGI has placed on developing a broader client base. The Company currently anticipates it will produce the work called for in these contracts, and thus book the associated revenue, during the remainder of its 2001 fiscal year.
The year began with strong project activity, including SSGI being awarded a major contract with Westinghouse's Nuclear Services. "We have initially selected SSGI to convert existing instructor-led training for our "Ovation System" -- a sophisticated operations system used to upgrade nuclear power plants. The program will be designed for our diverse global audience with a range of experience from new-hires performing routine tasks to those in supervisory positions who help shape policy, decisions, and strategic planning," said Karen Dynoske an instructor with the Westinghouse Nuclear Services Business Unit. "SSGI's highly interactive and animated technology- based approach to training solutions provides Westinghouse with a more consistent and thorough learning experience than traditional learning methods of classroom training, and resource-intensive on-the-job training. Through SSGI's technology, we are also able to make this training available very cost- effectively to a much broader audience by sending the training programs out to the nuclear power plants via CD-ROM, or by making the training continuously available via a secured intranet."
In highlighting the growing number of projects and opportunities for SSGI outside its traditional target market of automotive-related manufacturers, SSGI's Eastern Region Sales Manager, Eric Fotis commented, "SSGI is being selected for the design and development of manufacturers' most critical training projects. We were awarded the projects because of our proven ability to offer the most effective solutions by delivering a high level of quality and service. SSGI has established its reputation as one of North America's leading application services providers of technology-based training solutions, and those solutions are just as appropriate across a very broad range of manufacturing industries."
Online Learning Market Outlook
Leading market researcher, Gartner Group is predicting that the online learning business will soar from its current $1.5 billion annual level to at least $22 billion by 2003. This eLearning boom prediction for the near future is backed up by research from the Corporate University Xchange, based in New York City. This research says that the educational market currently spends 20 percent on eLearning and 80 percent on traditional classroom instruction. By 2003, this figure is expected to shift to 40 percent for online learning and 60 percent for traditional classroom instruction.
About Westinghouse Nuclear Services:
With headquarters at the Westinghouse Energy Center in Monroeville, Pennsylvania, Nuclear Services deploys people, technology, and equipment to keep nuclear power plants operating safely and competitively worldwide. Located in Madison, Pennsylvania, USA, the Westinghouse Waltz Mill Site presently quarters more than 500 engineers, technicians and service support personnel. It is the Center of Excellence for field service technology, steam generator services, plant services and training. For more information, please visit their web site at http://www.westinghouse.com .
About Strategic Solutions Group:
Strategic Solutions Group, Inc. is a leading services provider of Technology-Based Training and Just-In-Time Information software applications that seamlessly link digital video and audio content with rich text and graphics, comprehensive animations and simulations and dynamic Web links. These customized solutions provide end-users with a robust, fully integrated and highly interactive and intuitive learning experience on their computer desktops delivered via the Internet, Intranets, DVD, CD-ROM or any combination thereof.
For more information or to view copies of recent SEC filings, please visit their web site at http://www.ssgi.net or contact SSGI's Investor Relations at 480-839-2266.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this document the matters described herein contain forward looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product demand, competition, and market conditions, the result of litigation, technological difficulties, the ability of the company to obtain financing on acceptable terms and/or factors outside the control of the Company, which are detailed from time to time in the Company's SEC reports.
CONTACT: Kim McIntyre of Riley Communications, 480-839-2266, or kimmcintyre@qwest.net, for Strategic Solutions Group, Inc.
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