Bell Tech.logix Announces Change in Outsourcing and Product Engagement
18 Juli 2005 - 11:00PM
Business Wire
Bell Tech.logix Group (BTL), an operating unit of Bell Industries,
Inc. (AMEX:BI), today said its largest customer, Philip Morris USA,
indicated to BTL its intention to transition certain outsourcing
services and product sales provided by BTL to a new vendor on or
before the contract termination date of April 2006. BTL said the
portion of the engagement covered by this contractual relationship
generated approximately $2 million in services revenue and $800,000
in product sales for BTL during the first quarter ended March 31,
2005. For the full year ended December 31, 2004, services revenue
from this portion of the engagement totaled approximately $8
million and product revenue amounted to $10 million, of which $6.9
million was related to one large product deployment project.
Russell A. Doll, president of BTL and acting chief executive
officer of Bell Industries, said the company is awaiting the final
determination of the details of the transition, including the
timing of the transition, pending the customer's discussions with
its new vendor. BTL offers a comprehensive portfolio of technology
products and managed lifecycle services, including planning,
product sourcing, deployment and disposal, and support services.
Support services include help desk support, desk side support,
technical maintenance services, and reverse logistics and depot
services. Through other operating units, Bell distributes
after-market parts and accessories to the recreational vehicle
market and manufactures and sells standard and custom magnetic
components used in electronic applications for computer, medical,
lighting and telecommunication equipment. Certain matters discussed
in this news release are forward-looking statements that involve
risks and uncertainties that could cause actual results to differ
materially from current trends. These include, but are not limited
to, the intention, timing and impact of BTL's largest customer to
transition certain services and product sales to a new vendor, and
other factors described in the company's public filings from time
to time.
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