Archive for 2009

Park City Group to Present at 2nd Annual LD MICRO Conference on December 3rd, 2009 at 3:00 PM PST

PARK CITY, UT – November 20, 2009 – Park City Group, Inc. (OTCBB: PCYG), a developer of patented, innovative retail supply chain solutions and services, today announced that it will participate in the 2nd annual LD MICRO Conference on Thursday, December 3rd, at 3:00 PM PST at the Luxe Sunset in Los Angeles. Randall K. Fields, Park City Group’s Chairman and CEO will present at the conference and will review the Company’s operations and growth strategies.

About LD MICRO
LD MICRO is a by-invitation only newsletter firm that focuses on finding undervalued companies in the micro-cap space. Since 2002, the firm has published an annual list of recommended stocks as well as comprehensive reports on select companies throughout the year. LD MICRO concentrates on finding, researching, and investing in companies that are overlooked by institutional investors. It is a non-registered investment advisor.

About Park City Group
Park City Group is a trusted business solutions and services provider that enables retailers and suppliers to work collaboratively as strategic partners to reduce out-of-stocks, shrink, inventory and labor while improving profits, efficiencies, and customer service. Our innovative solutions provide trading partners a common platform on which they can capture, manage, analyze and share critical data, bringing greater visibility throughout the supply chain, and giving them the power to make better and more informed decisions. For more information please visit www.parkcitygroup.com.

Strack and Van Til Becomes the Fifth Retailer to Select Park City Group’s Consumer Driven Sales Optimization Solution in 2009

PARK CITY, UT – November 16, 2009 – Park City Group (OTCBB: PCYG), a developer of patented retail supply chain solutions and services, today announced that Strack and Van Til, a grocery retailer with stores spanning Illinois and Indiana, has signed on to become the fifth grocery retailer to implement Park City Group’s Consumer Driven Sales Optimization™ (CDSO) solution in 2009. Strack and Van Til selected Park City Group’s CDSO platform in order to capture, manage, analyze and share critical data with its partners, bringing greater visibility throughout the supply chain.

“We look forward to working with Strack and Van Til to enable them to optimize their supply chain and drive increased sales,” said Randall K. Fields, Chairman & CEO of Park City Group. “When we started the calendar year our goal was to add six additional retailers to the network of retail customers using our CDSO platform. Thanks to our sales team, we are one step closer to reaching that milestone.”

About Strack & Van Til
Strack and Van Til is a full service grocery and fresh food store committed to the complete satisfaction of its customers. They guarantee the finest quality products at the best value and provide their customers with a friendly shopping experience in a clean, safe, environment. Strack and Van Til realize that their success is because of the dedicated efforts of their associates and they are committed to their training and development.

About Park City Group
Park City Group is a trusted business solutions and services provider that enables retailers and suppliers to work collaboratively as strategic partners to reduce out-of-stocks, shrink, inventory and labor while improving profits, efficiencies and customer service. Park City Group’s innovative solutions provide trading partners a common platform on which they can capture, manage, analyze and share critical data, bringing greater visibility throughout the supply chain and giving them the power to make better and more informed decisions. For more information, go to www.parkcitygroup.com.

Park City Group to Present at the Southwest IDEAS Investor Conference

PARK CITY, UT – November 10, 2009 – Park City Group, Inc. (OTCBB: PCYG), a developer of patented, innovative retail supply chain solutions and services, today announced that it will participate in the Southwest IDEAS Investor Conference at the Hilton Anatole in Dallas, Texas on November 11th, 2009 at 3:55 P.M. CST. Randall K. Fields, Park City Group’s Chairman and CEO will present at the conference and will review the Company’s operations and growth strategies. The live presentation will be webcast and can be accessed at www.parkcitygroup.com. A replay will we be archived on the Park City Group website for 30 days.

About Park City Group
Park City Group is a trusted business solutions and services provider that enables retailers and suppliers to work collaboratively as strategic partners to reduce out-of-stocks, shrink, inventory and labor while improving profits, efficiencies, and customer service. Our innovative solutions provide trading partners a common platform on which they can capture, manage, analyze and share critical data, bringing greater visibility throughout the supply chain, and giving them the power to make better and more informed decisions. For more information please visit www.parkcitygroup.com.

Park City Group Reports Positive Earnings Per Share for the Quarter Ended September 30, 2009

First Quarter 2010 Results Exceed Expectations Reflecting Adjusted EBITDA of $720,000 and Positive Operating Cash Flow

PARK CITY, UT – November 10, 2009 – Park City Group, Inc. (OTCBB: PCYG), a developer of patented, innovative retail supply chain solutions and services, today announced its financial results for the first quarter ended September 30, 2009.

Highlights:

  • Total revenue of $2.69 million for the quarter ended September 30, 2009, compared with $530,278 in the prior year’s first quarter;
  • Income from operations of $311,145 for the quarter ended September 30 2009, compared to an operating loss of ($901,542) in the prior year’s first quarter;
  • Earnings Per Share (EPS) of $.01 for the quarter ended September 30, 2009, compared to a loss of ($.13) per share in the prior year’s first quarter;
  • EBITDA increased to $517,670 for the quarter ended September 30, 2009, meeting the Company’s previous guidance for EBITDA to be in excess of $500,000;
  • Adjusted EBITDA increased to approximately $720,000 for the quarter ended September 30, 2009, compared with an Adjusted Pro-forma EBITDA loss of approximately ($313,000) for the prior year’s first quarter.

Park City Group reported total revenue of $2.69 million for quarter ended September 30, 2009, compared with $530,278 for the quarter ended September 30, 2008. The increase is principally due to the acquisition of Prescient Applied Intelligence on January 13, 2009.

The Company reported income from operations of $311,145 for the quarter ended September 30, 2009, compared with a loss from operations of ($901,542) in the same period in 2008.

EBITDA increased to $517,670 for the quarter ended September 30, 2009. Adjusted EBITDA increased to approximately $720,000 for the quarter ended September 30, 2009, compared with an Adjusted Pro-forma EBITDA loss of approximately ($313,000) for the prior year’s first quarter. Adjusted EBITDA excludes certain non-cash items such as non-cash stock compensation, allowance for doubtful accounts, and acquisition related costs.
Net income applicable to common shareholders for the quarter ended September 30, 2009 was $86,903, or $0.01 per common share, compared with a net loss of ($1,209,884) in the prior year’s first quarter, or $(0.13) per common share. Results for the quarter ended September 30, 2009 include a gain on refinancing of certain debt instruments of $43,811 and other gains of $24,185, offset by an increase in net interest expense of $188,006 due to debt incurred as a result of the Prescient acquisition.

“This was a very strong way to begin fiscal 2010, with positive operating cash flow, positive EPS and our fourth consecutive quarter of positive EBITDA. We also restructured the debt incurred as a result of the Prescient acquisition. These milestones exceeded our internal expectations and provide evidence that we are on the way to achieve the kind of operating leverage we anticipated when we first contemplated the Prescient acquisition,” said Randall K. Fields, Park City Group’s Chairman and CEO. “With over 75% of our revenue coming from recurring sources, it is clear that our evolution from a traditional licensing based model to a subscription, or recurring software as a service (SaaS) model, was the right progression for our Company.”

Non-GAAP Financial Measures

EBITDA is calculated as net income before deducting interest, taxes, depreciation and amortization. Adjusted EBITDA also excludes items such as impairment charges, charges to consolidate and integrate recently acquired businesses, costs of closing corporate facilities, non-cash stock based compensation and other non-cash charges. Adjusted pro-forma EBITDA excludes certain items and considers Non GAAP results as if the Company’s were combined July 1, 2008. Although EBITDA, adjusted EBITDA, and adjusted pro-forma EBITDA are not measures of actual cash flow because they do not consider changes in assets and liabilities that may impact cash balances, the Company’s management reviews these non-GAAP financial measures internally to evaluate the Company’s performance and manage the operations. Additionally, the Company believes they are useful metrics to evaluate operating performance and has therefore included such measures in the reporting of operating results.

Conference Call

The Company will host a conference call at 10:00 A.M. EST on November 11, 2009 to discuss its first quarter financial results. Shareholders and other interested parties may participate in the conference call by dialing (877) 278-9471 or (International) (763) 488-3310 and entering Conference ID #40582353.
A replay of the conference call will be accessible until December 11, 2009 by dialing (800) 642-1687 and entering Conference ID # 40582353.

About Park City Group

Park City Group is a trusted business solutions and services provider that enables retailers and suppliers to work collaboratively as strategic partners to reduce out-of-stocks, shrink, inventory and labor while improving profits, efficiencies, and customer service. Our innovative solutions provide trading partners a common platform on which they can capture, manage, analyze and share critical data, bringing greater visibility throughout the supply chain, and giving them the power to make better and more informed decisions. For more information, go to www.parkcitygroup.com.

Forward-Looking Statement

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “if”, “should” and “will” and similar expressions as they relate to Park City Group, Inc. (”Park City Group”) are intended to identify such forward-looking statements. Park City Group may from time to time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. For a discussion of such risks and uncertainties, see “Risk Factors” in Park City’s annual report on Form 10-K for the year ended June 30, 2009, its quarterly report on Form 10-Q for the quarter ended September 30, 2009, and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.

PARK CITY GROUP, INC. AND SUBSIDIARIES
Consolidated Statements of Operations (unaudited)

Consolidated Statements of Operations (unaudited)

PARK CITY GROUP, INC. AND SUBSIDIARIES
Reconciliation of GAAP and Non-GAAP Financial Measures

Reconciliation of GAAP and Non-GAAP Financial Measures

Investor Relations Contact

Park City Group, Inc. Schedules First Quarter 2010 Financial Results Conference Call

Conference Call for November 11, 2009 at 10:00 A.M. EST

PARK CITY, Utah. – November 6, 2009 – Park City Group (OTCBB: PCYG), a developer of patented retail supply chain solutions and services, today announced that Randy K. Fields, Chairman and CEO, will host a conference call on Wednesday, November 11, 2009 at 10:00 A.M. EST to discuss its first quarter fiscal year 2010 financial results.

Shareholders and other interested parties may participate in the conference call by dialing (877) 278-9471 or (International) (763) 488-3310 and entering Conference ID #40582353.

A replay of the conference call will be accessible until December 11, 2009 by dialing (800) 642-1687 or (International) (706) 645-9291 and entering Conference ID #40582353.

About Park City Group
Park City Group is a trusted business solutions and services provider that enables retailers and suppliers to work collaboratively as strategic partners to reduce out-of-stocks, shrink, inventory and labor while improving profits, efficiencies, and customer service. Our innovative solutions provide trading partners a common platform on which they can capture, manage, analyze and share critical data, bringing greater visibility throughout the supply chain, and giving them the power to make better and more informed decisions. For more information please visit www.parkcitygroup.com.

Park City Group Strengthens its Board of Directors with the Addition of Richard A. Jacobsen, President and CEO of Time Warner Retail Sales and Marketing

PARK CITY, UT – October 30, 2009 – Park City Group, Inc. (OTCBB: PCYG), a developer of patented, innovative retail supply chain solutions and services, today announced that Richard A. Jacobsen, President & Chief Executive Officer of Time Warner Retail Sales and Marketing (NYSE: TWX), has joined its Board of Directors.

“Richard’s addition to our Board of Directors reflects our ability to add experienced advisors from both the retail and supplier community,” said Randall K. Fields, Park City Group’s Chairman and CEO. “In addition to his Fortune 500 experience, Richard brings a deep understanding of the supply chain inefficiencies in the magazine and publishing industry and broadens the experience of our already diverse Board of Directors. I’m sure Richard’s perspective will prove invaluable as we seek to penetrate the magazine and publishing industry.”

About Park City Group
Park City Group is a trusted business solutions and services provider that enables retailers and suppliers to work collaboratively as strategic partners to reduce out-of-stocks, shrink, inventory and labor while improving profits, efficiencies, and customer service. Our innovative solutions provide trading partners a common platform on which they can capture, manage, analyze and share critical data, bringing greater visibility throughout the supply chain, and giving them the power to make better and more informed decisions. For more information, go to www.parkcitygroup.com.

About Richard A. Jacobsen
Mr. Jacobsen was named President & Chief Executive Officer, Time Warner Retail Sales and Marketing in August of 2000. Rich returned to Time Warner after a brief hiatus as Vice-Chairman and Chief Operating Officer of The Source Information Management Company. Prior thereto, he was President & Chief Executive Officer of Time Distribution Services, serving in several executive capacities since 1981.

He is a member of the Board of Directors of the International Periodical Distributors Association, the President’s Advisory Council of the Grocery Manufacturers of America, Students in Free Enterprise (SIFE) and One-to-One Interactive. In 1999 Mr. Jacobsen was the recipient of the prestigious Folio: 40 Award.

Park City Group Expects First Quarter Results to Exceed Expectations

Company Expects to Report EBITDA in Excess of $500,000 and Positive EPS

PARK CITY, UT – October 23, 2009 – Park City Group, Inc. (OTCBB: PCYG), a developer of patented, innovative retail supply chain solutions and services, today announced that it expects fiscal first quarter EBITDA and Earnings per Share to exceed expectations driven by strong revenue growth and prudent expense management.

For its fiscal first quarter ended September 30, 2009, the company expects to report:

  • Revenue between $2.6 and $2.7 million, compared with $530,000 in the first quarter of fiscal 2009. The increase in revenue is primarily the result of the acquisition of Prescient Applied Intelligence, Inc. that occurred in January of 2009.
  • EBITDA in excess of $500,000, a sequential improvement of nearly 60% when compared with the fourth quarter of fiscal 2009.
  • Positive Earnings per Share, compared with a loss of $.13 per share in the first quarter of fiscal 2009.

“Our first quarter results not only validate the quality of our products and services but their growing acceptance in the marketplace,” said Randall K. Fields, Park City Group’s Chairman and CEO. “Looking forward, we expect to report consecutive quarterly earnings growth, though quarterly revenue growth may reflect the seasonality of our customers businesses.”

The projected and unaudited financial results discussed in this press release are preliminary only and are subject to change as a result of the completion of the Company’s quarterly review. GAAP results are anticipated to be different than projected EBITDA results and those differences are anticipated to be material.

EBITDA is calculated as net income before deducting interest, taxes, depreciation and amortization. Adjusted EBITDA also excludes items such as impairment charges, charges to consolidate and integrate recently acquired businesses, costs of closing corporate facilities, non-cash stock based compensation and other non-cash charges. Although EBITDA and adjusted EBITDA are not measures of actual cash flow because they do not consider changes in assets and liabilities that may impact cash balances, the Company’s management reviews these non-GAAP financial measures internally to evaluate the Company’s performance and manage the operations. Additionally, the Company believes they are useful metrics to evaluate operating performance and has therefore included such measures in the reporting of operating results.

About Park City Group
Park City Group is a trusted business solutions and services provider that enables retailers and suppliers to work collaboratively as strategic partners to reduce out-of-stocks, shrink, inventory and labor while improving profits, efficiencies, and customer service. Our innovative solutions provide trading partners a common platform on which they can capture, manage, analyze and share critical data, bringing greater visibility throughout the supply chain, and giving them the power to make better and more informed decisions. For more information, go to www.parkcitygroup.com.

Park City Group to Present at the Financial Services Exchange Investment Conference on October 30, 2009

PARK CITY, UT – October 20, 2009 – Park City Group, Inc. (OTCBB: PCYG), a developer of patented, innovative retail supply chain solutions and services, today announced that it will participate in the Financial Services Exchange (FSX) Investment Conference on October 30, 2009 at the Hyatt Regency Penns Landing, in Philadelphia, PA. Randall K. Fields, Park City Group’s Chairman and CEO, will present at the conference and will review the Company’s operations and growth strategies.

About the Financial Services Exchange (FSX)
Founded in 1983, FSX is a national organization comprised of independent FINRA broker/dealer firms. Through a series of regularly scheduled conferences, FSX brings these firms together with the purpose of sharing information and showcasing investment opportunities. The organization has hosted consecutive quarterly conferences for more than 25 years.

About Park City Group
Park City Group is a trusted business solutions and services provider that enables retailers and suppliers to work collaboratively as strategic partners to reduce out-of-stocks, shrink, inventory and labor while improving profits, efficiencies, and customer service. Our innovative solutions provide trading partners a common platform on which they can capture, manage, analyze and share critical data, bringing greater visibility throughout the supply chain, and giving them the power to make better and more informed decisions. For more information please visit www.parkcitygroup.com.

Park City Group Amends Revolving Line of Credit and Certain Long Term Debt Obligations

Interest Expense Expected to Decline by More Than $100,000 Annually

PARK CITY, UT – October 6, 2009 – Park City Group, Inc. (OTCBB: PCYG), a developer of patented, innovative retail supply chain solutions and services, today announced that it has amended certain revolving credit agreements and long term debt obligations at favorable terms:

  • Park City Group has amended its $3.0 million Revolving Credit Agreement with U.S. Bank. Under the terms of the amendment, the annual interest rate has been lowered from 7.26% to 3.25%. Approximately $2.9 million is currently outstanding under this revolving line of credit.
  • Park City Group has agreed to amend its loan agreement and Note with U.S. Bank dated February 2006. Under the terms of the amendment, the maturity date of the Note has been extended to September 30, 2010 and the interest rate has been lowered by .75%, or 75 basis points.
  • Park City Group and U.S. Bank have entered into a $500,000 Term Loan Agreement at 3.73%, replacing a $500,000 revolving line of credit with U.S. Bank. The Principal and accrued interest under the terms of the Note are payable in 16 monthly installments of approximately $9,000 each, beginning on October 15, 2009.

“Since February of 2009 we have refinanced, replaced or amended substantially all of our financing obligations at lower interest rates and at more favorable terms. The lower interest rates are expected to reduce total annual interest expense by more than $100,000,” said John R. Merrill, Chief Financial Officer of Park City Group.

“Our decision to replace a revolving line of credit with a fully amortized loan is consistent with our strategic initiatives and our commitment to use our free cash flow to pay down debt. These transactions demonstrate the comfort our financing partners have in our recurring revenue business model and their confidence in our ability to meet or exceed our cash flow targets” said Randall K. Fields, Park City Group’s Chairman and CEO.

About Park City Group
Park City Group is a trusted business solutions and services provider that enables retailers and suppliers to work collaboratively as strategic partners to reduce out-of-stocks, shrink, inventory and labor while improving profits, efficiencies, and customer service. Our innovative solutions provide trading partners a common platform on which they can capture, manage, analyze and share critical data, bringing greater visibility throughout the supply chain, and giving them the power to make better and more informed decisions. For more information please visit www.parkcitygroup.com.

Forward-Looking Statements
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “if”, “should” and “will” and similar expressions as they relate to Park City Group, Inc. (”Park City Group”) are intended to identify such forward-looking statements. Park City Group may from time to time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. For a discussion of such risks and uncertainties, see “Risk Factors” in Park City’s annual report on Form 10-K for the year ended June 30, 2009 and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.

Park City Group Financial Results Exceed Expectations for the Fiscal Year Ended June 30, 2009

Company Achieves Positive EBITDA One-Year Ahead of Plan on a Adjusted Pro-forma Basis

PARK CITY, UT – September 24, 2009 – Park City Group, Inc. (OTCBB: PCYG), a developer of patented, innovative retail supply chain solutions and services, today announced its financial results for the year ended June 30, 2009.

Highlights:

  • Total revenue of $5.9 million for the year ended June 30, 2009, representing growth of 78%;
  • Adjusted pro-forma EBITDA increased to approximately $357,000 for the year ended June 30, 2009, achieving positive EBITDA one-year ahead of plan;
  • Adjusted pro-forma EBITDA for the fourth quarter of fiscal 2009 of approximately $330,000 exceeded the Company’s previous guidance for adjusted pro-forma EBITDA of between $235,000 and $300,000;
  • Company continues to see strong new customer activity, highlighted by the recent signing of its fourth new retailer Hub in calendar 2009.

Park City Group reported total revenue of $5,964,767 for year ended June 30, 2009, compared with $3,344,973 for the year ended June 30, 2008. The increase is principally due to the acquisition of Prescient Applied Intelligence on January 13, 2009, partially offset by a one-time license sale in 2008 which did not recur in 2009.

Operating expenses of $9,337,682 for the year ended June 30, 2009 include a $1,457,383 non-cash charge related to the impairment of certain capitalized software costs acquired in connection with the acquisition of Prescient, as well as $236,117 in non-recurring costs incurred in connection with the consummation of the merger. No further impairment costs are currently anticipated.  Operating expenses are anticipated to substantially decline as a percentage of revenue as a result of cost reduction measures initiated in fiscal 2009.  The benefits of these cost reduction measures are expected to be more fully realized during the current 2010 fiscal year.

Adjusted pro-forma EBITDA increased to approximately $357,000 for the year ended June 30, 2009 compared with an EBITDA loss of approximately ($60,000) for the year ended 2008, achieving positive EBITDA one year ahead of plan on an adjusted pro-forma basis.

For the fourth quarter of fiscal 2009, the Company reported adjusted pro-forma EBITDA of approximately $330,000, exceeding its preliminary guidance for adjusted pro-forma EBITDA to be between $235,000 and $300,000.

Including non-recurring costs and charges incurred in connection with the Prescient acquisition, net loss applicable to common shareholders for the year ended June 30, 2009 was $4,727,892, or $(0.48) per common share, compared with a net loss of $3,199,016 for the year ended June 30, 2008, or $(0.35) per common share.

“Fiscal 2009 exceeded our own expectations, with adjusted pro-forma EBITDA well ahead of our financial plan and preliminary guidance” said Randall K. Fields, Park City Group’s Chairman and CEO. “Our strategies are clearly working as evidenced by the recent announcement of our fourth new retailer Hub signing in calendar 2009.  As I look forward to 2010, I anticipate a year of greater penetration of our broad suite of services into our existing customer base, the addition of new retailer Hubs and supplier Spokes, operating margin expansion, strong growth in EBITDA and our first year of positive net earnings and EPS.”

EBITDA is calculated as net income before deducting interest, taxes, depreciation and amortization. Adjusted EBITDA also excludes items such as impairment charges, charges to consolidate and integrate recently acquired businesses, costs of closing corporate facilities, non-cash stock based compensation and other non-cash charges.  Although EBITDA and adjusted EBITDA are not measures of actual cash flow because they do not consider changes in assets and liabilities that may impact cash balances, the Company’s management reviews these non-GAAP financial measures internally to evaluate the Company’s performance and manage the operations. Additionally, the Company believes they are useful metrics to evaluate operating performance and has therefore included such measures in the reporting of operating results.

Conference Call

The Company will host a conference call at 11:00 A.M. EDT on September 30, 2009 to discuss fiscal year 2009 financial results.  Shareholders and other interested parties may participate in the conference call by dialing (888) 679-8018 or (International) (617) 213-4845 and entering Conference ID #40859144.

A replay of the conference call will be accessible until October 30, 2009 by dialing (888) 286-8010 and entering Conference ID # 77464283.

PARK CITY GROUP, INC. AND SUBSIDIARIES
Consolidated Statements of Operations (Audited)
For the Years Ended June 30, 2009 and 2008

PCG 2009 Financial Results - SoO

Reconciliation of GAAP and Non-GAAP Financial Measures
For the Years Ended, June 30, 2009 and 2008

PCG 2009 Financial Results - GAAP

About Park City Group

Park City Group is a trusted business solutions and services provider that enables retailers and suppliers to work collaboratively as strategic partners to reduce out-of-stocks, shrink, inventory and labor while improving profits, efficiencies, and customer service. Our innovative solutions provide trading partners a common platform on which they can capture, manage, analyze and share critical data, bringing greater visibility throughout the supply chain, and giving them the power to make better and more informed decisions. For more information, go to www.parkcitygroup.com.

Forward-Looking Statement

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “if”, “should” and “will” and similar expressions as they relate to Park City Group, Inc. (”Park City Group”) are intended to identify such forward-looking statements. Park City Group may from time to time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. For a discussion of such risks and uncertainties, see “Risk Factors” in Park City’s annual report on Form 10-K for the year ended June 30, 2009 and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.


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