Archive for 2012

Park City Group Approves New $2.0 Million Repurchase Program

PARK CITY, Utah – Sept 4, 2012 – Park City Group (NYSE Amex: PCYG), a Software-as-a-Service (SaaS) provider of unique supply chain solutions for retailers and their suppliers, today announced that its Board of Directors has approved a share repurchase program of up to $2.0 million of the Company’s common stock over the next two years,or such other date, which ever is earlier, when the repurchase program is revoked or varied by the Board of Directors.

The size, scope and timing of any purchases under the repurchase program will be based on business, market and other conditions and factors, including price, regulatory and contractual requirements or consents, and capital availability. The share repurchase program is intended to be implemented through purchases made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions, or by any combination of such methods, in compliance with applicable insider trading and other securities laws and regulations. This plan does not obligate the Company to acquire any particular number of shares of common stock. The plan may be suspended, modified or discontinued at any time at the Company’s discretion without prior notice.

Randall K. Fields, Chairman and CEO said, “The authorization of the share purchase program demonstrates our confidence in the scalability of our business model, which we believe will begin generating significant excess cash flow in the coming fiscal year as we enter a more rapid growth phase. We believe repurchasing our stock represents a prudent use of our capital and will enhance long-term shareholder value.”

Park City Group (NYSE Amex: PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain, delivering actionable information that ensures product is on the shelf when the consumer expects it as well as providing food safety tracking information. The Company’s service increases customers’ sales and profitability while enabling lower inventory levels and ensuring regulatory compliance for both retailers and their suppliers.

Through a process known as Consumer Driven Sales OptimizationTM, Park City Group helps its customers turn information into cash and increased sales, using the largest scan based platform in the world. Scan based trading provides retail trading partners with a distinct competitive advantage through scan sales that provide store level visibility and set the supply chain in motion. And since it is scan based, it can be used in a Direct Store Delivery (DSD) or warehouse setting.

ReposiTrakTM provides food retailers and suppliers with a robust solution that will help them protect their brands and remain in compliance with rapidly evolving regulations in the recently passed Food Safety Modernization Act. An internet-based technology, ReposiTrakTM, will enable all participants in the farm-to-table supply chain to easily manage tracking and traceability requirements as products move between trading partners.

Two Major Grocery Customers Begin Implementation of Park City Group’s Food & Drug Safety Technology

PARK CITY, Utah, Aug. 8, 2012 — Park City Group, Inc. (NYSE Amex:PCYG), a leader in consumer goods supply chain technology, today announced that Global Supply Chain Systems, Inc., the food and drug safety track and trace business powered by Park City Group, Inc.’s technology platform, has begun the first two implementations of its ReposiTrakTM software solution at a global grocery retailer and a major grocery wholesaler.

As previously announced, Park City Group and Leavitt Partners, an internationally-known health care and food safety consulting firm, formed Global Supply Chain Systems, Inc. to provide a targeted solution for improving supply chain visibility for food and drug safety.

“The initial response to ReposiTrak from retailers, suppliers, wholesalers and other participants in the global food and drug supply chain has been very encouraging. The solution offers an easy to implement and cost effective way to address very real safety problems,” said Randall K. Fields, Chairman and CEO of Park City Group. “In very short order, we have progressed to the point of implementation with our first customers and have several more in the pipeline.”
Powered by Park City Group’s technology, Global Supply Chain System’s ReposiTrak solution enables grocery, supermarkets, packaged goods manufacturers, food processing facilities, drug stores and drug manufacturers, as well as logistics partners, to track and trace products and components to products throughout the food, drug and dietary supplement supply chains. In addition, the technology addresses the market need of receiving, storing, sharing, and maintaining regulatory documentation all in one convenient location. In the unfortunate, but highly likely, event of a product recall, the solution quickly identifies the supply chain path taken by the recalled product or product component. ReposiTrak reduces risk in the supply chain by identifying backward chaining sources and forward chaining recipients of products in near real time.

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, its quarterly report on Form 10-Q, 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.

About Park City Group

Park City Group (NYSE Amex:PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain. With over $100 million invested in development and 16 years of commercialization surrounding its proprietary scan based data platform, the Company’s services increase customers’ sales and profitability, while ensuring regulatory compliance for both retailers and their suppliers. Through a process known as Consumer Driven Sales OptimizationTM, Park City Group helps retail and consumer packaged goods customers turn transactional information into actionable strategies to lower inventory, increase sales and improve efficiencies in the supply chain.

About Global Supply Chain Systems

Global Supply Chain Systems, Inc. is a partnership jointly owned by Leavitt Partners and Park City Group. The Partnership provides food retailers and suppliers with a robust solution to help protect their brands and remain in compliance with rapidly evolving regulations in the recently-passed Food Safety Modernization Act. Powered by Park City Group’s technology, Global Supply Chain Systems’ ReposiTrakTM software solution is an internet-based technology that enables all participants in the farm-to-table supply chain to easily manage tracking and traceability requirements as products move between trading partners.

Contact:

Dave Mossberg
Three Part Advisors, LLC
P.O. Box 92698
Southlake, TX 76092
Phone: (817) 310-0051
dmossberg@threepa.com
www.threepa.com

Park City Group Appoints Ed Clissold as Chief Financial Officer

PARK CITY, Utah, Aug. 6, 2012 (GLOBE NEWSWIRE) — Park City Group (NYSE Amex:PCYG) today announced that Edward Clissold has been appointed Chief Financial Officer of the Company. Mr. Clissold will succeed David Colbert who resigned effective August 2, 2012 to pursue another professional opportunity.

Mr. Clissold has served as Park City Group’s General Counsel since March 2002 and will continue on in dual roles for the Company. Prior to that, he served as General Counsel for Mrs. Fields’ Cookies from August 1987 to April 1995 and was also in private practice. Mr. Clissold holds a Bachelors degree in Finance from the University of Utah and a Law Degree from Brigham Young University.

“In his legal capacities, Ed has worked extensively on our finance, accounting and related matters. Combined with his breadth of experience, he is a logical choice for our new Chief Financial Officer,” said Randall K. Fields, Chairman and Chief Executive Officer. “Ed has been a colleague for many years in multiple ventures. The Board of Directors and I are confident in his abilities to help us achieve our strategic plans.”

“We would like to thank Dave Colbert for his contribution to the Company as CFO and we wish him well in his new endeavor,” concluded Mr. Fields.

About Park City Group

Park City Group (NYSE Amex: PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain. With over $100 million invested in development and 16 years of commercialization surrounding its proprietary scan based data platform, the Company’s services increase customers’ sales and profitability, while ensuring regulatory compliance for both retailers and their suppliers.

Through a process known as Consumer Driven Sales OptimizationTM, Park City Group helps retail and consumer packaged goods customers turn transactional information into actionable strategies to lower inventory, increase sales and improve efficiencies in the supply chain.

ReposiTrakTM provides food retailers and suppliers with a robust solution that will help them protect their brands and remain in compliance with rapidly evolving regulations in the recently-passed Food Safety Modernization Act. ReposiTrakTM, an internet-based technology, will enable all participants in the farm-to-table supply chain to easily manage tracking and traceability requirements as products move between trading partners.

Dave Mossberg
Three Part Advisors, LLC
P.O. Box 92698
Southlake, TX 76092
Phone: (817) 310-0051
dmossberg@threepa.com
www.threepa.com

Haggen Inc. Uses Supply Chain Management Solutions from Park City Group To Help Improve Customer Service

New demand planning system boosts supermarket retailer’s top and bottom lines

Bellingham, WA – Haggen, Inc., a leading independent supermarket chain in the Pacific Northwest, today announced it is working with Park City Group (NYSE Amex: PCYG), a leader in consumer goods supply chain technology, to both reduce out of stocks and overstocks and improve financial performance. Haggen, which operates 28 stores in Washington and Oregon, employed Park City Group’s analytic and business services team to drive incremental revenue and margin from key traffic driving categories. The process aims to increase visibility of inventory on hand at the shelf and better stock the store on the basis of consumer demand. The retailer is also planning to implement additional Park City Group solutions, including Scan Based Trading and Store Ordering.

Park City Group’s suite of solutions enables Haggen and it’s trading partners to drive operational efficiencies, increase sales and optimize performance in their supply chains. This is accomplished by providing a common view of shelf level inventory, creating the opportunity for both the retailers and their suppliers to work together to reduce out of stocks and excess inventory, increase turns and lower shrink rates. The web-based applications allows suppliers to spend more time merchandising product and removing time-consuming operational labor from the retailer-supplier relationship.

Quotes
“Haggen and Park City Group are collaborating on the execution of several initiatives, from retail analytics to scan based trading, in order to bolster our top and bottom lines. The commitment Park City Group has to our success, along with the knowledge their team has of the grocery industry, has made them the perfect partner for our demand planning.”
C.J. Gabriel, Jr. (Gabe), President & CEO, Haggen & TOP

“The purpose of our technology is to improve sales and reduce out of stocks, with a focus on delivering the right product to the shopper in the right place at the right time. We accomplish this by significantly enhancing collaboration between the retailer and suppliers. Retailers like Haggen that take action first have a major advantage versus their competitors and will be better able to take advantage of the current and future economic environments.”
Randall K. Fields, Chairman and CEO of Park City Group.

About Haggen
Haggen, Inc. operates 28 supermarkets in Washington and Oregon under the Haggen Food & Pharmacy and TOP Food & Drug names. Headquartered in Bellingham, it is the largest independent grocer and sixth-largest private company based in the State of Washington. For more information, visit www.haggen.com and www.top-foods.com.

About Park City Group
Park City Group (NYSE Amex: PCYG) is a Software-as-a-Service provider that brings unique visibility to the consumer goods supply chain. With over $100 million invested in development and 16 years of commercialization surrounding its proprietary scan based data platform, the Company’s services increase customers’ sales and profitability, while ensuring regulatory compliance for both retailers and their suppliers. Through a process known as Consumer Driven Sales OptimizationTM, Park City Group helps retail and consumer packaged goods customers turn transactional information into actionable strategies to lower inventory, increase sales and improve efficiencies in the supply chain. ReposiTrakTM provides food retailers and suppliers with a robust solution that will help them protect their brands and remain in compliance with rapidly evolving regulations in the recently-passed Food Safety Modernization Act. ReposiTrakTM, an internet-based technology, will enable all participants in the farm-to-table supply chain to easily manage tracking and traceability requirements as products move between trading partners.

Media Contacts
Ronald Margulis (For Park City Group)
RAM Communications
908.272.3930
ron@rampr.com

Heidi Happonen (For Haggen)
The Fearey Group
206.343.1543
hhapponen@feareygroup.com

Investor Contact
Dave Mossberg (For Park City Group)
Three Part Advisors, LLC

Park City Group Reports Fiscal Third Quarter 2012 Financial Results

Major “Hub” Win in a New Retail Market
Subscription Growth Expected to Accelerate During the Fourth Fiscal Quarter

  • 3Q12 subscription revenue of $1.7 million was unchanged from 3Q11
  • 3Q12 total revenue of $2.5 million was unchanged from 3Q11
  • 3Q12 free cash flow of $161,000
  • 3Q12 adjusted EBITDA of $271,000
  • 3Q12 GAAP EPS ($0.05), versus ($0.04) during 3Q11
  • 3Q12 non-GAAP EPS ($0.02), versus ($0.00) during 3Q11
  • Added 19 supplier “spoke” connections during 3Q12
  • More than 80 spoke connections expected for 4Q12
  • Debt reduction since June 30, 2011 of $2.0 million, a 42% decrease

PARK CITY, Utah – May 14, 2012 – Park City Group (NYSE Amex: PCYG), a Software-as-a-Service (SaaS) provider of unique supply chain solutions for retailers and their suppliers, today announced results for its fiscal third quarter ended March 31, 2012.

“We made significant progress with our growth initiatives during the first three quarters of this year and set the stage for a significant ramp in subscription revenue beginning in the current quarter. During the third quarter we had our first major win in a retail vertical outside of the grocery store industry. This retail “hub” has the largest store system of any of our customers. In addition, the pace of supplier “spoke” connection growth picked up during the third quarter, and most importantly, we are seeing an acceleration of customers deploying more of our solutions deeper into their supply chains,” said Randall K. Fields, Park City Group’s Chairman and CEO. “Our recently announced partnership with Leavitt Partners to provide track and trace technology for use as a food and drug safety registry is also making exciting progress. The registry is expected to be in operation and contributing to revenue during the June quarter.”

Revenue

Total revenue for the third quarter ended March 31, 2012 was $2.5 million, unchanged from the same period a year ago. During the third quarter, maintenance revenue declined 7 percent and professional services and license revenue increased 20 percent and 51 percent, respectively.

Subscription revenue during the third quarter was $1.7 million, reflecting growth of retail and supplier customers contracted during the last several quarters, and offset by previously announced customer attrition. “As expected, high single digit growth from new and existing customers was able to fill the gap left from business that we believed was not in the best interest of the Company and elected not to renew,” said David S. Colbert, Park City Group’s Chief Financial Officer.

Commenting on revenue trends, Mr. Fields stated, “As we have said all year, our fiscal fourth quarter should be the tipping point for growth of subscription revenue. During the fourth quarter, we expect subscription growth to be in the mid-teens and then accelerate over the next several years. We added 19 connections during the third quarter and expect to make more than 80 connections during the fourth, which will be a record. This year we have laid a solid foundation for growth that will continue to accelerate as the size of our “hub” and “spoke” network grows and more and more of our retail and supplier customers realize our ability to not only diagnose problems within their supply chains, but also provide solutions to those problems.”

Net (Loss) Income

Net loss available to common shareholders for the quarter ended March 31, 2012 was ($561,000), or ($0.05) per share, as compared to a net loss of ($451,000), or ($0.04) per share, during the prior year period. Non-GAAP loss per share for the third quarter was ($0.02) versus earnings per share of ($0.00) during the same period last year.

Cash Flows

During the quarter ended March 31, 2012, free cash flow was $161,000, compared to $251,000 during the same period last year. As of March 31, 2012, the Company’s net debt position was $2.2 million, a 14% reduction year over year. Total cash was $631,000 at March 31, 2012.

The Company will hosted a conference call at 4:30 P.M. Eastern May 14th to discuss the results. A toll free replay of the conference call will be available until May 21, 2012 by dialing (855) 859-2056 and entering Conference ID: 78909843.

About Park City Group

Park City Group (NYSE Amex: PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain. With over $100 million invested in development and 16 years of commercialization surrounding its proprietary scan based data platform, the Company’s services increase customers’ sales and profitability, while ensuring regulatory compliance for both retailers and their suppliers.

Through a process known as Consumer Driven Sales OptimizationTM, Park City Group helps retail and consumer packaged goods customers turn transactional information into actionable strategies to lower inventory, increase sales and improve efficiencies in the supply chain.

ReposiTrakTM provides food retailers and suppliers with a robust solution that will help them protect their brands and remain in compliance with rapidly evolving regulations in the recently-passed Food Safety Modernization Act. ReposiTrakTM, an internet-based technology, will enable all participants in the farm-to-table supply chain to easily manage tracking and traceability requirements as products move between trading partners.

Non-GAAP Financial Measures

This press release includes the following financial measures defined as “non-GAAP financial measures” by the Securities and Exchange Commission: non-GAAP EBITDA, non-GAAP earnings per share, net debt and free cash flow. These measures may be different from non-GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles. Reconciliations of these non-GAAP financial measures to the nearest comparable GAAP measures will be provided upon the completion of the Company’s annual audit.

Non-GAAP EBITDA excludes items such as impairment charges, allowance for doubtful accounts, charges to consolidate and integrate recently acquired businesses, costs of closing corporate facilities, non-cash stock based compensation and other one-time cash and non-cash charges. Non-GAAP EPS excludes items such as non-cash stock based compensation, charges to consolidate and integrate recently acquired businesses, costs for closing corporate facilities, amortization of acquired intangible assets and other one-time cash and non-cash charges. Net debt is the total debt balance less the cash balance. Free cash flow includes net cash provided (used) by operating activities less replacement purchases of property and equipment. The Company believes the non-GAAP measures provide useful information to both management and investors by excluding certain expenses, gains and losses or net purchases of property and equipment, as the case may be, which may not be indicative of its core operation results and business outlook. In addition, because Park City Group has historically reported certain non-GAAP results to investors, the Company believes that the inclusion of non-GAAP measures provides consistency in the Company’s financial reporting.

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, its quarterly report on Form 10-Q, 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.

Investor Relations Contact:
Dave Mossberg
Three Part Advisors, LLC
817-310-0051


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


PARK CITY GROUP, INC. AND SUBSIDIARIES
Consolidated Condensed Balance Sheet


PARK CITY GROUP, INC. AND SUBSIDIARIES
Consolidated Condensed Balance Sheet


PARK CITY GROUP, INC. AND SUBSIDIARIES
Consolidated Condensed Statements of Cash Flows (Unaudited)


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


Non-GAAP Net Income (Loss) to Common Shareholders and EPS
(In $000’s, except per share)
Unaudited results of operations


Non-GAAP Free Cash Flow
(In $000’s)
Unaudited results of operations


Non-GAAP Net Debt
(In $000’s)
Unaudited results of operations

Park City Group, Inc. Schedules Third Quarter Fiscal Year 2012 Earnings Conference Call and Webcast

PARK CITY, Utah, May 8, 2012 (GLOBE NEWSWIRE) — Park City Group (NYSE Amex:PCYG), a Software-as-a-Service provider of unique supply chain solutions for retailers and their suppliers, today announced the Company plans to release results for its fiscal third quarter 2012 after the Market closes on Monday, May 14, 2012. Randall K. Fields, Chairman and CEO, will host a conference call at 4:30 P.M. Eastern that day to discuss the Company’s results. Investors and interested parties may participate in the call by dialing (877) 675-3568 and referring to Conference ID: 78909843.

Park City Group (NYSE Amex:PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain, delivering actionable information that ensures product is on the shelf when the consumer expects it as well as providing food safety tracking information. The Company’s service increases customers’ sales and profitability while enabling lower inventory levels and ensuring regulatory compliance for both retailers and their suppliers.
Through a process known as Consumer Driven Sales OptimizationTM, Park City Group helps its customers turn information into cash and increased sales, using the largest scan based platform in the world. Scan based trading provides retail trading partners with a distinct competitive advantage through scan sales that provide store level visibility and set the supply chain in motion. And since it is scan based, it can be used in a Direct Store Delivery (DSD) or warehouse setting.

The Food Safety Global RegistryTM provides food retailers and suppliers with a robust solution that will help them protect their brands and remain in compliance with rapidly evolving regulations in the recently passed Food Safety Modernization Act. An internet-based technology, ReposiTrakTM, will enable all participants in the farm-to-table supply chain to easily manage tracking and traceability requirements as products move between trading partners.

CONTACT:
Investor Relations Contact
Dave Mossberg
Three Part Advisors, LLC
Phone: 817-310-0051

Park City Group Reports Second Quarter Fiscal 2012 Financial Results

Food and Drug Safety Partnership Planned with Leavitt Partners
Marks an Important Strategic Milestone

  • Quarterly subscription revenue of $1.7 million, a 5.4% increase year over year
  • 2Q12 total revenue of $2.6 million versus $2.7 million during the same period a year ago
  • 2Q12 free cash flow of $414,000
  • 2Q12 adjusted EBITDA of $429,000
  • 2Q12 GAAP EPS ($0.03), versus breakeven during 2Q11
  • 2Q12 non-GAAP EPS breakeven, versus $0.03 during 2Q11
  • Year over year total debt reduction of $817,000, a 20% decrease

PARK CITY, Utah – February 14, 2012 – Park City Group (NYSE Amex: PCYG), a Software-as-a-Service (SaaS) provider of unique supply chain solutions for retailers and their suppliers, today announced results for its fiscal second quarter ended December 31, 2011.

“Our three primary initiatives during fiscal 2012 are to increase the adoption of our end-to-end supply chain management solutions, expand into at least one new retail vertical outside of the grocery industry, and validate our track and trace technology for use as a food and drug safety registry. We made significant progress on all three of these initiatives during the first half of the year,” said Randall K. Fields, Park City Group’s Chairman and CEO. “We’re seeing an acceleration of customers deploying more of our solutions deeper into their supply chains. In addition, we’re increasingly confident of a significant win in an additional vertical market given our growing sales pipeline.”

“Finally, our recently announced venture with Leavitt Partners has significant implications for both the adoption of our food and drug safety global registry, as well as for the future overall growth of our Company. Leavitt Partners provides industry-recognized thought leadership that will accelerate the adoption of our track and trace technology as the industry standard. Successful adoption not only provides the opportunity to expand our addressable market, but also offers the potential to significantly increase our revenue and profitability. It’s currently anticipated that the partnership will be a newly created entity primarily capitalized by independent investors. As a result of these three initiatives, growth of our retail/supplier connections and revenue should begin to accelerate during the fourth quarter.”

Revenue

Total revenue for the second quarter ended December 31, 2011 was $2.6 million, a 6.5% decrease from the prior year. The Company said its shift to a subscription based revenue model makes quarterly comparisons of maintenance, professional services, and license revenue difficult, as these can vary significantly from quarter to quarter. The decrease in non-subscription revenues was largely anticipated, and reflects management’s emphasis on growing subscription revenue in future periods. Subscription revenue is expected to continue to increase as a percentage of revenue and other revenue categories will continue to decrease, or remain volatile. This was evident during the second quarter, as maintenance, professional services, and license revenue decreased 15%, 36%, and 27%, respectively.

Subscription revenue during the second quarter increased 5.4% to $1.7 million, reflecting growth of retail and supplier customers contracted during the last several quarters, which was partially offset by customer churn. “Our churn rate was slightly higher than normal during the second quarter, which offset subscription revenue growth by approximately five percentage points,” said David Colbert, the Company’s Chief Financial Officer.

Commenting on revenue trends, Mr. Fields said, “So far this fiscal year, more than a dozen of our current retail and supplier customers have agreed to deploy additional point solutions that help not only diagnose problems within their supply chains, but also provide solutions to those problems. This is solid evidence that our shift from being a tactical to a strategic service provider is accelerating.”

Net (Loss) Income

Net loss available to common shareholders for the quarter ended December 31, 2011 was ($385,000), or ($0.03) per share, as compared to a net loss of ($22,000), or ($0.00) per share, during the prior year period. Non-GAAP EPS for the second quarter were $0.00 versus $0.03 during the same period last year.

Cash

During the quarter ended December 31, 2011, free cash flow was $414,000, compared to $482,000 during the same period last year. On a year over year basis, the Company reduced its debt balance by $817,000, or 20%, to end the second quarter with a balance of $3.2 million. Total cash was $942,000 at December 31, 2011.

The Company will host a conference call at 4:30 P.M. Eastern to discuss today’s results. Investors and interested parties may participate in the call by dialing (877) 675-3568 and referring to Conference ID: 48543871. The conference call is also being webcast and is available via the investor relations section. A toll free replay of the conference call will be available until February 21, 2012 by dialing (855) 859-2056 and entering Conference ID: 48543871.

About Park City Group

Park City Group (NYSE Amex: PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain. With over $100 million invested in development and 16 years of commercialization surrounding its proprietary scan based data platform, the Company’s services increase customers’ sales and profitability, while ensuring regulatory compliance for both retailers and their suppliers.

Through a process known as Consumer Driven Sales OptimizationTM, Park City Group helps retail and consumer packaged goods customers turn transactional information into actionable strategies to lower inventory, increase sales and improve efficiencies in the supply chain.

ReposiTrakTM provides food retailers and suppliers with a robust solution that will help them protect their brands and remain in compliance with rapidly evolving regulations in the recently-passed Food Safety Modernization Act. ReposiTrakTM, an internet-based technology, will enable all participants in the farm-to-table supply chain to easily manage tracking and traceability requirements as products move between trading partners.

Non-GAAP Financial Measures

This press release includes the following financial measures defined as “non-GAAP financial measures” by the Securities and Exchange Commission: non-GAAP EBITDA, non-GAAP earnings per share, net debt and free cash flow. These measures may be different from non-GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles. Reconciliations of these non-GAAP financial measures to the nearest comparable GAAP measures will be provided upon the completion of the Company’s annual audit.

Non-GAAP EBITDA excludes items such as impairment charges, allowance for doubtful accounts, charges to consolidate and integrate recently acquired businesses, costs of closing corporate facilities, non-cash stock based compensation and other one-time cash and non-cash charges. Non-GAAP EPS excludes items such as non-cash stock based compensation, charges to consolidate and integrate recently acquired businesses, costs for closing corporate facilities, amortization of acquired intangible assets and other one-time cash and non-cash charges. Net debt is the total debt balance less the cash balance. Free cash flow includes net cash provided (used) by operating activities less replacement purchases of property and equipment. The Company believes the non-GAAP measures provide useful information to both management and investors by excluding certain expenses, gains and losses or net purchases of property and equipment, as the case may be, which may not be indicative of its core operation results and business outlook. In addition, because Park City Group has historically reported certain non-GAAP results to investors, the Company believes that the inclusion of non-GAAP measures provides consistency in the Company’s financial reporting.

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, its quarterly report on Form 10-Q, 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.

Investor Relations Contact:
Dave Mossberg
Three Part Advisors, LLC
817-310-0051


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


PARK CITY GROUP, INC. AND SUBSIDIARIES
Consolidated Condensed Balance Sheet


PARK CITY GROUP, INC. AND SUBSIDIARIES
Consolidated Condensed Balance Sheet


PARK CITY GROUP, INC. AND SUBSIDIARIES
Consolidated Condensed Statements of Cash Flows (Unaudited)


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


Non-GAAP Net Income (Loss) to Common Shareholders and EPS
(In $000’s, except per share)
Unaudited results of operations


Non-GAAP Free Cash Flow
(In $000’s)
Unaudited results of operations


Non-GAAP Net Debt
(In $000’s)
Unaudited results of operations

Leavitt Partners and Park City Group Unite to Build a Global Food and Drug Safety Registry

Comprehensive solution addresses supply chain visibility challenges for all food and pharmaceutical industry trading partners

Leavitt Partners

Salt Lake City & Park City, Utah – Leavitt Partners, an internationally-known health care and food safety consulting firm, and Park City Group (NYSE Amex: PCYG), a leader in consumer goods supply chain technology, have joined to create a solution targeted toward improving supply chain visibility for food and drug safety. The solution creates visibility from the farm to the fork in the food industry, and from the manufacturer to the pharmacy in the pharmaceuticals industry. The new partnership will help food retailers, foodservice operators, wholesalers and manufacturers protect their brands and be compliant with current and future regulatory requirements that could emerge from the Food Safety Modernization Act (FSMA). It will also provide tracking and tracing of pharmaceuticals through the supply chain from manufacturer to retailer, as numerous state and federal laws require.

The database of trading partner connections can easily, quickly and economically help identify the source of suspect product, as well as track it throughout the supply chain. Since the system works with existing electronic documents, it requires no special labeling, hardware or software; and can be deployed for no more than the cost of an average monthly cell phone bill. The database will reduce tracking times from weeks to minutes, so affected products can quickly be identified and removed from all trade channels, which can ultimately save lives. The partnership expects to commence operation with a select number of retailers, foodservice operators, wholesalers and manufacturers in the next few months.

“The federal and state level food and drug tracking and tracing laws are placing a significant responsibility on retailers, manufacturers and other suppliers to know exactly where their product comes from and where it’s going to. Our partnership with Park City Group will deliver a very comprehensive and inexpensive solution for clients that both meets regulatory obligations and generates supply chain productivity opportunities,” said Rich McKeown, President of Leavitt Partners. “The Park City Group solution not only exists today, but is proven, scalable and very cost effective.”

The partnership will leverage Park City Group’s proven product synchronization technology that has been processing millions of transactions daily between retailers, foodservice operators and suppliers for more than a decade. The system is known for its ability to maintain perpetual inventories, track product movement, and as a trusted provider of information used to settle financial transactions among trading partners. The new offering provides a low-cost, best practice solution for tracking and tracing products in the grocery and pharmaceutical supply chains. Other benefits from the system are enhanced customer loyalty, compatibility with any standard or in-house systems including GS1, sophisticated security, multi-platform connectivity and adherence to ever-changing traceability mandates.

“As a single point of connection for thousands of participants in the food and drug supply chain, the new partnership addresses the systemic challenge of a one-to-many information exchange through our easy-to-use web-based technology. By working with Leavitt Partners, our clients gain access to the most experienced team of food and drug safety experts on the planet, and the combination of the two organizations ensures that all regulatory requirements are efficiently and cost effectively met. It’s currently anticipated that the partnership will be a newly created entity primarily capitalized by independent investors,” said Randall K. Fields, Chairman and CEO of Park City Group.

About Leavitt Partners
Leavitt Partners advises clients in the health care and food safety sectors. The firm applies its experience, knowledge and a network of global relationships to serve our clients. As a food safety and health care intelligence business we provide the best available window to the future of American health care. More information is available at www.leavittpartners.com.

About Park City Group
Park City Group (NYSE Amex: PCYG) is a Software-as-a-Service provider that brings unique visibility to the consumer goods supply chain. With over $100 million invested in development and 16 years of commercialization surrounding its proprietary scan based data platform, the Company’s services increase customers’ sales and profitability, while ensuring regulatory compliance for both retailers and their suppliers. Through a process known as Consumer Driven Sales OptimizationTM, Park City Group helps retail and consumer packaged goods customers turn transactional information into actionable strategies to lower inventory, increase sales and improve efficiencies in the supply chain.

Media Contacts
Natalie Gochnour
Leavitt Partners
801.961.1581
natalie@leavittpartners.com

Ronald Margulis
RAM Communications
+1 908.272.3930
ron@rampr.com

Investor Contact (Park City Group)
Dave Mossberg
Three Part Advisors, LLC
817.310.0051

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 fiscal year ended June 30, 2011, its quarterly report on Form 10-Q for the quarter ended September 30, 2011, 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. Schedules Second Quarter Fiscal Year 2012 Earnings Conference Call and Webcast

PARK CITY, Utah. – Feb 13, 2012 – Park City Group (NYSE Amex: PCYG), a Software-as-a-Service provider of unique supply chain solutions for retailers and their suppliers, today announced the Company plans to release results for its fiscal second quarter 2012 after the Market closes on Tuesday, February 14, 2012. Randall K. Fields, Chairman and CEO, will host a conference call at 4:30 P.M. Eastern that day to discuss the Company’s results. Investors and interested parties may participate in the call by dialing (877) 675-3568 and referring to Conference ID: 48543871. The conference call is also being webcast and is available via the investor relations section.

Park City Group (NYSE Amex: PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain, delivering actionable information that ensures product is on the shelf when the consumer expects it as well as providing food safety tracking information. The Company’s service increases customers’ sales and profitability while enabling lower inventory levels and ensuring regulatory compliance for both retailers and their suppliers.

Through a process known as Consumer Driven Sales OptimizationTM, Park City Group helps its customers turn information into cash and increased sales, using the largest scan based platform in the world. Scan based trading provides retail trading partners with a distinct competitive advantage through scan sales that provide store level visibility and set the supply chain in motion. And since it is scan based, it can be used in a Direct Store Delivery (DSD) or warehouse setting.

The Food Safety Global RegistryTM provides food retailers and suppliers with a robust solution that will help them protect their brands and remain in compliance with rapidly evolving regulations in the recently passed Food Safety Modernization Act. An internet-based technology, the Food Safety Global Registry, will enable all participants in the farm-to-table supply chain to easily manage tracking and traceability requirements as products move between trading partners.


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