SPL reports rise in quarterly revenue

Morristown, NJ, Nov. 18, 2002 – SPL WorldGroup, a provider of customer management solutions to the global energy, water, waste management, and services industries, reported that the quarter ending September 30 saw a 23 percent rise in revenue over the same quarter in 2001, from $22.689 million to $27.971 million.

“SPL’s worldwide reputation for outstanding products and services continues to expand,” said SPL President and CEO CD Hobbs. “While market uncertainties have depressed overall utility spending on information technology, our customers recognize the need to provide outstanding customer service. CorDaptix(TM) customer management software is an investment that will pay off no matter what the future holds.”

The high-performance quarter follows SPL’s announcement in September that its fiscal year ending June 30 broke all previous records, with revenue exceeding $100 million-a 15 percent growth over the previous year’s results.

Hobbs said he was particularly pleased given the overall state of the industry. “For internal purposes,” he explained, “we benchmark against a group of 131 leading software companies, as evaluated by an independent research firm. Comparing this quarter with the same quarter a year ago, revenue in that group dropped 1.1%; and growth for that same group in the 12 months ending in September was a negative 5.1 percent.”
Earlier this year, the SPL Board of Directors directed management to change the company’s fiscal year to coincide with the calendar year. As a result, SPL is currently in a 6-month transition period that will end in December. The company will begin its next full fiscal year on January 1, 2003.

About SPL
Established in 1994, SPL WorldGroup is a provider of best-of-breed customer management solutions to the energy and service related industries in regulated and competitive markets worldwide.

With a 100% record of successful implementations, SPL continues to demonstrate its place as the market leader in providing flexible and scalable customer management solutions that evolve with client requirements and enable unrivaled business responsiveness.

SPL has delivered its customer management products to more than 50 energy, water and waste management customers worldwide. SPL employs over 600 professionals in North America, Europe, and Asia Pacific.

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