Archive for 2008

Park City Group to Close Acquisition of Prescient Applied Intelligence by January 16th

PARK CITY, Utah – December 29, 2008Park City Group, Inc. (OTCBB: PCYG), a developer of patented retail supply chain solutions and services, today announced that the shareholders of Prescient Applied Intelligence (OTCBB: PPID) will vote on the pending acquisition by Park City Group at a special meeting of shareholders on January 13, 2009.  Park City Group expects to consummate the acquisition within three days following the meeting, and will operate Prescient as a wholly owned subsidiary.

 This accretive acquisition is projected to provide:

  • Significant increase in recurring subscription based revenues
  • Increase in Park City Group total revenues from $3.3 million to $12 million
  • Substantially increased EBITDA to approx. 15% of revenue
  • Synergies of product and service offerings
  • Strong future revenue growth opportunities within the combined customer base, and
  • Economies of scale in business operations and development costs
    • Identified $4 million in annualized cost reduction measures
      • Of which $3+ million have already been taken and will be reflected over the next several quarters

Commenting on the combined companies, Randall K. Fields, Chairman and CEO, said that, “We are very satisfied with the continued and increasing positive results of our cross selling efforts.  The integration of the two businesses is in its final stages and will be completed by the time we close the acquisition.  Park City Group has successfully transitioned its business model from one that historically generated approximately 70% of its revenues from license-related business to one that now generates approximately 70% of revenues from recurring subscription-based customers.”

 About Park City Group

Park City Group, Inc. develops and markets patented computer software and consulting services that help retailers and their suppliers to increase sales while reducing inventory and labor costs — the two largest, controllable expenses. The technology has its genesis in the operations of Mrs. Fields Cookies, co-founded by Randy Fields, chief executive officer of Park City Group. Industry-leading customers such as The Home Depot, Victoria’s Secret, The Limited, Anheuser Busch Entertainment and Tesco Lotus benefit from Park City Group software. To find out more about Park City Group, please visit www.parkcitygroup.com.

Statements in this news release that relate to Park City Group’s future plans, objectives, expectations, performance, events and the like are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Those factors could include changes in economic conditions that may change demand for the Company’s products and services and other factors discussed in the “forward-looking information” section and the “risk factor” section of the management’s discussion and analysis included in the Company’s report on Form 10-K for the year ended June 30, 2008 and in any risk factors or cautionary statements contained in the Company’s periodic reports on Form 10-Q or current reports on Form 8-K filed with the Securities and Exchange Commission. This presentation is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. Park City Group uses paid services of investor relations organizations to promote the Company to the investment community. Investments in any company should be considered speculative and prior to acquisition, should be thoroughly researched. Park City Group does not intend to update these forward-looking statements prior to announcement of quarterly or annual results.

Southeastern Retailer Subscribes to Park City Group’s Supply Chain Profit Link After $5.2M Opportunity Gap Identified

Subscription Follows Completion of SCPL Opportunity Identification Program

PARK CITY, Utah – October 31, 2008 – Park City Group, Inc. (OTCBB: PCYG), a developer of patented retail supply chain solutions and services, today announced that a 225 store southeastern grocery chain has signed a subscription agreement for Supply Chain Profit Link (SCPL). The subscription for the first product category, ice cream, comes after the completion of a successful SCPL opportunity identification program in three categories, in which a $5.2M opportunity gap was recognized through out-of-stock identification and promotion optimization. The opportunity gap in ice cream represented over 50% total gap uncovered. The grocery chain plans to expand SCPL into the other categories in coming months.

The grocery chain will initially utilize SCPL as the foundation for collaboration across 20 brands with multiple suppliers. SCPL will allow the retailer to view category and item product movement at various aggregations including corporate, division, region, and department level, down to hourly increments.  This visibility allows for unprecedented tracking and continuous correction of store and shelf-level issues, eliminating out-of-stocks and reducing shrink. The retailer and its suppliers will be working together to focus on mutual opportunities and realize the sales and profit improvement identified in the significant opportunity gap.

 

SCPL is a service offering for both perishable and non-perishable product categories which analyzes retail data and provides specific action steps to improve sales and implement cost savings measures not previously recognized by retailers and suppliers. Results of these engagements with other retailers have historically uncovered tens of millions of dollars in lost opportunities, including improvements to assortment/store clustering, increased service level and improvement in distribution voids.

Randall K. Fields, Park City Group Chairman and CEO, commented, “Our opportunity identification program provides retailers just a taste of what SCPL can do. The millions of dollars in cost savings and/or lost sales we have uncovered to date will most definitely increase as we expand across additional suppliers and categories. We take pride in the level of cost savings and increased revenue we provide our customers.”

About Park City Group:

Park City Group, Inc. develops and markets patented computer software and consulting services that help retailers and their suppliers to increase sales while reducing inventory and labor costs — the two largest, controllable expenses. The technology has its genesis in the operations of Mrs. Fields Cookies, co-founded by Randy Fields, chief executive officer of Park City Group. Industry-leading customers such as The Home Depot, Victoria’s Secret, The Limited, Anheuser Busch Entertainment and Tesco Lotus benefit from Park City Group software. To find out more about Park City Group, please visit www.parkcitygroup.com.

 

Statements in this news release that relate to Park City Group’s future plans, objectives, expectations, performance, events and the like are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Those factors could include changes in economic conditions that may change demand for the Company’s products and services and other factors discussed in the “forward-looking information” section and the “risk factor” section of the management’s discussion and analysis included in the Company’s report on Form 10-K for the year ended June 30, 2008 and in any risk factors or cautionary statements contained in the Company’s periodic reports on Form 10-Q or current reports on Form 8-K filed with the Securities and Exchange Commission. This presentation is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. Park City Group uses paid services of investor relations organizations to promote the Company to the investment community. Investments in any company should be considered speculative and prior to acquisition, should be thoroughly researched. Park City Group does not intend to update these forward-looking statements prior to announcement of quarterly or annual results.

Park City Group Initiates Second Supply Chain Profit Link Opportunity Evaluation This Month

Assessment to Uncover Improvements for In-Stock Positions and Assortment Planning  In Three Product Categories for 160+ Stores of Northeast-Based Grocery Retailer 

PARK CITY, Utah – October 23, 2008 – Park City Group, Inc. (OTCBB: PCYG), a developer of patented retail supply chain solutions and services, announced today that a Northeast grocery chain, a division of a global food retailing leader, has initiated a Supply Chain Profit Link (SCPL) opportunity identification program throughout its 160+ store chain. This latest SCPL evaluation comes on the heels on last week’s announced opportunity identification by a prominent northwest grocery retailer in 120+ stores in two product categories.

 

The SCPL service offering for perishable and non-perishable categories analyzes retail data and provides specific action steps to improve sales opportunities and cost saving measures not previously recognized by retailers and suppliers. Across categories, SCPL allows retailers and suppliers to view category and item-level product movement from a high-level corporate, division, region, store, department level, down to hourly increments allowing for unprecedented tracking and correction of store- and shelf-level issues.

 

During the 2-3 month pilot opportunity identification period, Park City Group will analyze inventory and sales data provided by the retailer, in the rotisserie chicken, ground beef and milk categories, and perform a detailed analysis using patented technology that results in identification of quantifiable areas.  Results of these engagements with other retailers have historically uncovered tens of millions of dollars in lost opportunities, including improvements to assortment/store clustering, increased service level and improvement in distribution voids. Subsequent subscription to the ongoing SCPL service builds upon the opportunity identification program and its analytic foundation, providing recommended specific action and ongoing steps that enable the retailer and its suppliers to capture millions of dollars of missed sales and profits.

 

“The ability to respond and react quickly to the changing needs of retail customers is a competitive advantage all retailers are looking for. Supply Chain Profit Link is that competitive advantage. It gives retailers an hour-by-hour view of sales, allowing them to base assortment planning and store clustering on actual item performance, and ensures the right item is on the shelf for the customers,” commented Randall K. Fields, Park City Group Chairman and CEO.

 

 

About Park City Group:

Park City Group, Inc. develops and markets patented computer software and consulting services that help retailers and their suppliers to increase sales while reducing inventory and labor costs — the two largest, controllable expenses. The technology has its genesis in the operations of Mrs. Fields Cookies, co-founded by Randy Fields, chief executive officer of Park City Group. Industry-leading customers such as The Home Depot, Victoria’s Secret, The Limited, Anheuser Busch Entertainment and Tesco Lotus benefit from Park City Group software. To find out more about Park City Group, please visit www.parkcitygroup.com.

 

Statements in this news release that relate to Park City Group’s future plans, objectives, expectations, performance, events and the like are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Those factors could include changes in economic conditions that may change demand for the Company’s products and services and other factors discussed in the “forward-looking information” section and the “risk factor” section of the management’s discussion and analysis included in the Company’s report on Form 10-K for the year ended June 30, 2008 and in any risk factors or cautionary statements contained in the Company’s periodic reports on Form 10-Q or current reports on Form 8-K filed with the Securities and Exchange Commission. This presentation is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. Park City Group uses paid services of investor relations organizations to promote the Company to the investment community. Investments in any company should be considered speculative and prior to acquisition, should be thoroughly researched. Park City Group does not intend to update these forward-looking statements prior to announcement of quarterly or annual results.

Park City Group Announces Prominent Northwest Grocery Retailer Initiates Supply Chain Profit Link Evaluation To Identify Lost Opportunity In Sales, Stock Outs And Shelf Optimization

120+ Store Supermarket Chain Assessment in Two Product Categories

PARK CITY, Utah – October 20, 2008 – Park City Group, Inc. (OTCBB: PCYG), a developer of patented retail supply chain solutions and services, announced today that a Northwest division of one the largest US grocery retailers has initiated a Supply Chain Profit Link (SCPL) opportunity identification program throughout its 120+ store chain. The SCPL service offering for perishable and non-perishable categories analyzes retail data and provides specific action steps to improve sales opportunities and cost saving measures not previously recognized by retailers and suppliers. Results of these engagements with other retailers have historically uncovered tens of millions of dollars in lost opportunities, including improvements to assortment/store clustering, increased service level and improvement in distribution voids.

During the 60-90 day pilot opportunity identification period, Park City Group will analyze inventory and sales data provided by the retailer, in the commercial bakery and poultry categories, and perform a detailed analysis using patented technology that results in identification of quantifiable improvement areas. Subscription to the ongoing SCPL service builds upon the opportunity identification program and its analytic foundation, providing recommended specific action steps that enable the retailer and its suppliers to capture millions of dollars of missed sales and profits. Across categories, SCPL allows retailers and suppliers to view corporate, division, region, store, department, category and item-level product movement down to hourly increments allowing for unprecedented tracking and correction of store- and shelf-level issues.

“Due to the current economic climate, there is a heightened interest level within the retail community for SCPL services. Now more than ever, there is a growing need to utilize technology throughout the supply chain to maximize shrinking margins,” commented Randall K. Fields, Park City Group Chairman and CEO. “The recently announced merger agreement between Park City Group and Prescient Applied Intelligence allows us to service a growing customer base, which presently includes seven of the top ten grocery retailers, through a deeper staff and highly scalable platform.

Park City Group, Inc. and Prescient Applied Intelligence, Inc. Agree To Merge

Combined Companies Will Provide One of the Most Comprehensive Inventory and Labor Management Solutions for Suppliers and Retailers

Park City Group’s Pro-Forma Revenue Expected to Triple

PARK CITY, UT and WEST CHESTER, PA – September 3, 2008Park City Group, Inc. (OTCBB: PCYG) and Prescient Applied Intelligence, Inc. (OTCBB: PPID) today announced the execution of an Agreement and Plan of Merger.  Under the terms of the Agreement, Prescient will merge with a newly formed subsidiary of Park City Group, becoming a wholly owned operating subsidiary.  Simultaneous with the execution of the Agreement, Park City Group acquired, from two Prescient stockholders in a private transaction, over 43% of Prescient’s Series E Preferred Stock, and Randall K. Fields, Chairman and Chief Executive Officer of Park City Group, was appointed Chief Executive Officer of Prescient.  Prescient’s current Board of Directors and executive management team will remain in office until completion of the merger. The merger is subject to customary terms and conditions, including Prescient stockholder approval.
(more…)

Park City Group Enhances ActionManager® Labor Technology System For a Leading Home Improvement Specialty Retailer

PARK CITY, Utah, Jul 21, 2008 (BUSINESS WIRE) — Park City Group, Inc. (PCYG) , developer and marketer of patented computer software and consulting services which enable its retail customers to increase sales while reducing inventory and labor costs, today announced it has enhanced its ActionManager® labor technology system for an existing home improvement specialty retailer customer.

The national retailer is a long time user of the ActionManager labor management solution and had very specific requirements to be met in order to seamlessly migrate its business to a new technology infrastructure. The retailer required that the integration for all systems be ready simultaneously. Park City Group’s application consulting team upgraded and migrated its application and unique business rules to the retailer’s new technology platform. The Park City Group team successfully completed upgrades, systems testing and migration support for the customer in less than 45 days – without any impact to the customer’s information technology team.

Park City Group’s ActionManager tools have been used to schedule labor in hundreds of stores of this leading home improvement retailer.

Randall K. Fields, Chairman and CEO, said that, “Our ActionManager labor management solution has been a valuable tool, allowing this retailer to reduce costs and streamline and speed labor-related administrative processes. The need to transition to a new operating system was one of those unique opportunities for our technical staff to show how really good they are. The superior ability of our ActionManager suite of products to dramatically improve upon operational processes, including electronic paperwork, time and attendance, labor scheduling and business intelligence, allows us to continue to deliver on our promise to ensure that the retailer has the ‘Right People, Doing the Right Things, At the Right Time’.”

Park City Group either licenses ActionManager on a per store basis with annual maintenance based upon a percentage of the purchase price or, alternatively, sells it as a hosted subscription service (software as a service).


  • You are currently browsing the Park City Group archives for the year 2008.

Contact Sales

Have Sales Contact Me!

Your Name

Your Email

Your Phone

Question / Comment

Enter the text in the image
captcha