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EXHIBIT 99.1
PRESS RELEASE
COTELLIGENT, INC. FOR IMMEDIATE RELEASE
101 California Street Company Contact:
Suite 2050 Jeffrey B. Van Horn, Chief Financial Officer
San Francisco, CA 94111 Sonali Sen, VP of Investor Relations
Telephone: 415-439-6400 Cotelligent #01-11
COTELLIGENT ANNOUNCES CHANGE IN YEAR END
BOARD OF DIRECTORS APPROVES DECEMBER 31 YEAR END
COTELLIGENT FILES FISCAL 2000 FORM 10-K INCORPORATING DIVESTITURE TRANSACTION
EARNINGS RELEASE SCHEDULED FOR AUGUST 8, 2000
SAN FRANCISCO, CA, JULY 19, 2000 - Cotelligent, Inc. (NYSE: CGZ), a leading IT
consulting and eBusiness firm, announced today that its Board of Directors has
approved a change in the Company's fiscal year end to December 31 from March 31.
The Company will report the nine-month period beginning April 1, 2000 and ending
December 31, 2000 as a transition period. The first new twelve-month fiscal year
will begin January 1, 2001.
"A December 31 year end will permit more effective business planning and
reporting cycles as Cotelligent transforms itself into a pure-play IT consulting
firm," said Jeff Van Horn, newly appointed Chief Financial Officer. "By
changing Cotelligent's year end to December 31, the Company will also be
reporting annual results on a comparable basis with other public companies in
the industry."
The Company has also filed its Form 10-K for the fiscal year ended March 31,
2000. The 10-K was delayed to reflect the divestiture transaction, which closed
on June 30, 2000. Historical financial statements have been restated to present
the divested IT staff augmentation business as discontinued operations.
The earning release for the quarter ended June 30, 2000 will be distributed at
market close on Tuesday, August 8, 2000. The Company will host a conference call
at 2:15 p.m. (5:15 p.m. EST). Management in attendance will include James
Lavelle, Chairman and Chief Executive Officer, Dan Jackson, President and Chief
Operating Officer, Jeff Van Horn, Executive Vice President and Chief Financial
Officer, and Sonali Sen, Vice President, Investor Relations.
COTELLIGENT EARNINGS RELEASE CONFERENCE CALL
TUESDAY, AUGUST 8, 2000 AT 5:15 P.M. EST.
The live conference call can be accessed via the Company Web site or by dialing
(800) 865-4460 or
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(973) 628-6885. Replay of the call will be available on the Company Web site.
ABOUT COTELLIGENT, INC.
Cotelligent is repositioning itself as a pure-play information technology (IT)
consulting firm focused on delivering end-to-end eBusiness solutions and
emerging wireless data applications ("mBusiness") solutions. Cotelligent assists
companies to receive information anywhere, anytime and in the most efficient
format. Areas of specialization include Web-enabled applications, Web design,
eCommerce, Web portals, and ERP eSolutions ("eBusiness"), as well as custom
application development, system integration and implementation, strategic
consulting and assessments, and business intelligence. As part of its wireless
initiative, Cotelligent is also developing its knowledge and expertise in
mBusiness. Employing over 600 technical consultants and operating staff,
Cotelligent delivers services from 10 metropolitan locations throughout the
United States. Cotelligent's stock is traded on the New York Stock Exchange
under the symbol CGZ. More detailed information is available on the company's
Web site at www.cotelligent.com
