 |
|
Press Release
FOR IMMEDIATE RELEASE
Sento Corporation Announces Maturity of Debentures And Comments on Service Portal Utilization Increase
AMERICAN FORK, Utah - Feb. 19, 2003 /PRNewswire-FirstCall/ - Sento Corporation (Nasdaq: SNTO - News) announced today that its $1.3 million in convertible subordinated debentures, convertible to common stock at $20 per share, have now matured. Management is optimistic it will be successful in efforts to reach a near term extension. Management today also announced it has reached an agreement in principle with a private investment group, including some of the current debenture holders, and received a term sheet that will restructure the convertible debentures reflecting current market conditions. The agreement requires approval by Sento's board of directors once details are finalized.
Furthermore, management anticipates it will be able to renew the $2.0 million bank line of credit that expired January 31, 2003 upon successful completion of the refinancing of the debentures. Management cannot at this time make any assurances that the efforts to resolve the debentures and renew the line of credit will be successful. Further information regarding the maturing debenture is included in Sento's Form 10-Q filed with the Securities and Exchange Commission November 14, 2002 and Sento has filed a Form 8K concurrently with the release of this news.
"We are working diligently on this debenture issue and look forward to a near-term resolution," stated Patrick O'Neal, Sento's president and chief executive officer. "While the specific terms and conditions of this refinancing must still be finalized, is appears we have reached an agreement in principle."
"Our white paper walks readers through the Customer Support platform, discusses the current trends and issues in web-enabled customer support, and offers actual case study and ROI examples of leading enterprises who have evolved their support programs to Sento's Customer Choice Platform™," O'Neal added.
Fourth Quarter Utilization of Sento Services
"The increased utilization of Sento's Service Portal offerings in this quarter are proving quite gratifying as validation of our overall business model," commented Patrick O'Neal, Sento's president and chief executive officer. "While our revenue is not at last year's fourth quarter levels, the tax season surge and the increases we are seeing in Service Portal usage puts us in position to exceed revenue levels seen in the previous three quarters. We are pleased that our unique and affordable technology offerings can provide enhanced levels of customer service to the end users of our customer's products."
SENTO PROFILE
Sento Corporation (www.sento.com) is one of the industry's most innovative providers of outsourced customer support services. Sento employs right channeling to create custom solutions that integrate live support with the company's best-in-class software solutions. Sento's Customer Choice PlatformSM allows customers to make choices in communication channels from a range of web-enabled self-service options with live support available at every critical point. Sento focuses on the inter-relationship among voice, chat, email, self-service and web forums. Sento targets its customer acquisition, customer service and technical support solutions to a diversified portfolio of clients in multiple vertical segments. Sento's solutions can provide value-added customer support at significant cost reductions when compared to other, traditional outsourced models. With operations in the U.S., The Netherlands, and France, plus partnerships in India and other low-cost regions, Sento provides customer support in 19 languages.
FORWARD LOOKING STATEMENTS
Statements in this press release, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements encompass Sento's beliefs, expectations, goals, hopes or intentions regarding future events. Words such as "expects," "intends," "estimates," "believes," "anticipates," "should" and "likely" also identify forward-looking statements. All forward-looking statements included in this release are made as of the date hereof and are based on information available to Sento as of such date. Sento assumes no obligation to update any forward-looking statement. Actual results could differ materially from those anticipated for a number of reasons, including, among others: the Company's stock price has historically been volatile; difficulties encountered in post-acquisition integration and operation of the acquired assets including retaining existing clients of the acquired company; variations in market and economic conditions; the effect on the Company's earnings of the repricing of options; the Company's dependence on its limited number of key clients; failure to renew existing client contracts for continuation of services; reduction in services requested by the Company's clients resulting in lower revenues for the Company; the Company's ability to complete negotiations and execute client agreements; risk of emergency interruption of the Customer Contact Solutions operations; and other unanticipated factors. Risk factors, cautionary statements and other conditions, which could cause actual results to differ from the Company's current expectations, are contained in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-KSB, as amended.
Contact:
Patrick O'Neal
President, Chief Executive Officer and Director
Sento Corporation
801-772-1417
pat_oneal@sento.com
Anthony J. Sansone
Chief Finance Officer and Corporate Secretary
Sento Corporation
801-772-1410
tony_sansone@sento.com
Brokers and financial industry members
Laurie S. Roop
President, Shareholder Relations
435-652-3884
laurie@shareholder-relations.net
|
|
|
|
|
