SOURCE: Avatar Systems, Inc.

January 30, 2008 08:00 ET

Avatar Systems, Inc. Wins Highly Competitive $1.2 Million Contract

FRISCO, TX--(Marketwire - January 30, 2008) - Avatar Systems, Inc. (PINKSHEETS: AVSY), in December 2007, was awarded a highly competitive contract with a large Oil & Gas Management company based in Dallas, Texas.

Chuck Shreve, President and Chief Executive Officer of Avatar Systems, Inc. commented, "This is a significant win for us. We have gone head-to-head with most of our major competitors in a rigorous selection process and demonstrated that our software is the most effective and easiest to use in a heavy transaction processing environment for this customer. Our product innovation and superiority have been recognized by very knowledgeable audiences from the oil and gas industry. This contract represents a large contract for Avatar Systems and the addition of such a significant client is another milestone for our company."

The Avatar 400 Energy Solution is capable of performing the intensive transaction processing required by the customer. Shreve added, "The Avatar 400 Energy Solution on the IBM AS/400 iSeries was the perfect solution and cut the customer's processing time for millions of transactions per month. Simply put, that's why we won the contract. We now have the honor of being awarded this high profile contract to go with our previous best in class client base of almost 700 customers."

Strong fourth quarter sales and this latest large contract demonstrate that Avatar is a leader in offering Oil and Gas software solutions. The company's products and service offerings continue to gain market share as it executes a growth strategy including strategic acquisitions. "We have developed and acquired a strong product mix and can be competitive on any level for upstream oil and gas companies," says Shreve. The sale will result in additional revenues recognized in both 2007 and 2008 fiscal years.

Avatar Systems' Headquarters are in Frisco, Texas, USA with branch offices in Midland and Tyler, TX. The Company provides ERP / Accounting Software and Computing Infrastructure Solutions for companies engaged in the petroleum exploration and production industry. Avatar has a growing customer base on its Petroware2000™, Integra Energy™ products for Microsoft Windows, Avatar400™ on the IBM AS400 platform, and subscribers utilizing its Software as a Service (SaaS) On-Demand ASP services. Avatar's products and services provide an excellent resource for critical information management requirements of the petroleum industry. Avatar also provides document imaging, workflow and business process management as well as disaster recovery and remote backup services for all vertical markets.

The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectation or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties.

Contact Information

  • Contact:
    Chad P. Statham
    Director of Sales & Marketing
    Avatar Systems, Inc.
    (972) 720-1800 x127
    (972) 989-3355 mobile