EXHIBIT
99.1
Tuesday January 9, 2001
Press Release
SOURCE: USDATA Corporation
FOR IMMEDIATE RELEASE Contact: Jim Fleet
Chief Financial Officer
972/680-9700, Ext. 338
USDATA APPEALS NASDAQ NOTIFICATION
Dallas, Texas, January 9, 2001 - USDATA Corporation (Nasdaq: USDC) today
announced that The Nasdaq Stock Market ("Nasdaq") has notified the Company that,
absent a successful appeal by the Company, its common stock will be removed from
listing on the Nasdaq National Market. The Company has requested a hearing from
a Nasdaq Listing Qualifications Panel to review the Staff Determination, and has
been advised by Nasdaq that, pending completion of the appeal process, its stock
will continue to be listed on the Nasdaq National Market. The Company expects
the hearing to be scheduled for a date within 45 days.
On November 29, 2000, the Company received a Nasdaq Staff Determination that the
Company was not in compliance with the minimum stock market capitalization of
$50,000,000 required by Marketplace Rule 4450(b)(1)(A). On January 2, 2001, the
Company received a Nasdaq Staff Determination that the Company did not meet a
30-day grace period provided by Nasdaq to regain compliance with this Rule. The
Nasdaq Staff Determination in the November 29, 2000 and January 2, 2001 letters
also included a statement that as of the Nasdaq determination dates, the Company
is not in compliance with the maintenance standards set forth in alternate
Marketplace Rules. The alternate Marketplace Rules require that the Company
maintain a minimum of $4,000,000 in net tangible assets as set forth in
Marketplace Rule 4450(a)(3), maintain a minimum bid price of its common stock of
at least $1.00 per share as set forth in Marketplace Rule 4450(a)(5) and
maintain certain other requirements. As a result, the Company's securities are
subject to delisting from the Nasdaq National Market.
The Company has developed a plan that will be presented at the hearing that may
allow it to comply with the alternate Marketplace Rules. However, there can be
no assurance that the Panel will grant the Company's request for continued
listing. A delisting of the Company's common stock is likely to have a negative
effect on its price and liquidity.
USDATA Corporation (Nasdaq: USDC) is a global supplier of component-based
production software that is designed to help customers reduce operating costs,
shorten cycle times and improve product quality in their manufacturing
operations. The company's software enables manufacturers to access accurate and
timely information -- whether they are on the plant-floor, in the office, or
around the globe. USDATA's solutions span the full range of manufacturing, from
monitoring equipment to tracking product flow, and are designed to integrate
seamlessly with customer's existing manufacturing and business software. This
combination of product breadth and ease of integration provides a total plant
solution that defines new levels of manufacturing performance and gives
customers a distinct competitive advantage.
Now in its 26th year, USDATA has a strong global presence with more than 45,000
installs in more than 60 countries throughout the world, nine offices worldwide
and a global network of distribution and support partners. The company is
headquartered in Richardson, Texas.
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995 regarding revenues,
margins, operating expenses, earnings, growth rates and certain business trends
that are subject to risks and uncertainties that could cause actual results to
differ materially from the results described herein. Specifically, the ability
to grow product and service revenues may not continue and the Company may not be
successful in developing new products, product enhancements or services on a
timely basis or in a manner that satisfies customers needs or achieves market
acceptance. Other factors that could cause actual results to differ materially
are: competitive pricing and supply, market acceptance and success for service
offerings similar to eMake, short-term interest rate fluctuations, general
economic conditions, employee turnover, possible future litigation, the impact
of Y2K and the related uncertainties may have on future revenue and earnings as
well as the risks and uncertainties set forth from time to time in the Company's
other public reports and filings and public statements. Recipients of this
document are cautioned to consider these risks and uncertainties and to not
place undue reliance on these forward-looking statements. All subsequent written
and oral forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by these
cautionary statements.
January 9, 2001
