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Logility Voyager Solutions to implement in under two months and deliver a minimum eight percent reduction in monthly transportation costs
ATLANTA, Sep 8, 2003 /PRNewswire-FirstCall via COMTEX/ -- Logility (Nasdaq: LGTY a leading supplier of collaborative solutions to optimize the supply chain, today announced that Rockline Industries, North America's largest supplier of coffee filters and private label wipes, has selected Logility Voyager Solutions(TM) to optimize transportation operations throughout the company. Rockline anticipates an initial seven-week implementation of the Logility solutions with minimum projected savings of eight percent per month in overall reduced transportation costs.
Rockline will implement Logility Voyager Transportation Planning and Management to optimize direct shipments of finished products to customers. The Logility solution optimizes transportation costs and improves customer service by consolidating orders based on destination, required delivery date and carrier. It will also optimize load planning for all Rockline's North American facilities; enable centralized rate management; perform automatic load tendering to carriers for specific routes; track shipments with real-time status information and offer tactical planning through reporting, modeling and simulation tools. The first quarter total revenues were $5.4 million, with software license fees of $1.1 million, compared to $1.7 million in the same period last year. Services and other revenues were $1.5 million, compared to $1.4 million in the same period last year. Maintenance revenues were $2.8 million, compared to $2.7 million in the same period last year. For the first quarter, the Company reported operating income of $324,000 compared to an operating loss of $279,000 for the same period last year and net income of $370,000 or earnings per share (diluted) of $0.03, compared to a net loss of $91,000 or loss per share of $0.01 for the same period in the prior year.
The overall financial condition of the Company remains strong with cash and investments of approximately $26.5 million and no debt. The Company's cash and investment position increased approximately $3.1 million compared to the quarter ended July 31, 2002.
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