FARMINGTON HILLS, Mich., Oct. 25 /PRNewswire-FirstCall/ -- Covansys Corporation , a global consulting and technology services company, today announced that it has postponed the release of its results for the quarter ended September 30, 2006 and its earnings call that was previously scheduled for 10:00 a.m. Eastern Time on Thursday, October 26, 2006. The Company has postponed its release and earnings call to perform additional detailed reviews of its revenue accounts for the quarter ended September 30, 2006. Covansys expects to file its Form 10-Q for the quarter ended September 30, 2006 on or before its due date of November 9, 2006. The Company intends to release its earnings concurrent with its Form 10-Q filing and will schedule an investor conference call to discuss the financial results for the period at that time.
About Covansys
Headquartered in Michigan, Covansys Corporation is a global consulting and technology services company specializing in industry-specific solutions, strategic outsourcing and integration services. Clients gain competitive advantage by leveraging our unique global delivery capability to achieve rapid deployment, world-class quality and reduced costs. Covansys is known for strategic outsourcing and technology solutions in the healthcare, financial services, retail and distribution, manufacturing, telecommunications and high-tech industries. Founded in 1985, Covansys now has more than 8,400 consultants and employees worldwide, up from 7,300 on December 31, 2005. Covansys was one of the first U.S.- based IT services companies to establish offshore facilities in India, and is a pioneer in seamlessly integrating offshore capabilities into its offerings. Two of the Company's three wholly- owned development centers in India are assessed at Level 5 in SEI CMM(R). All three are ISO 9001:2000 certified and assessed at Level 5 in PCMM(R), and five global facilities are BS7799-2:2002 certified. For more information visit: http://www.covansys.com/ .
Safe Harbor Statement
With the exception of statements regarding historical matters and statements concerning our current status, certain matters discussed in this press release are forward-looking statements that involve substantial risks and uncertainties. Such forward-looking statements may be identified by the words "anticipate," "believe," "estimate," "expect" or "intend" and similar expressions. Our actual results, performance or achievements could differ materially from these forward-looking statements.
Factors that could cause or contribute to such material differences include internal control weaknesses, variability of operating results, failure to recruit, train and retain skilled IT professionals, impact of changes in estimates on fixed price projects, exposure to regulatory, political and general economic conditions in India and Asia, short term nature and termination provisions of contracts, competition in the IT services industry, economic conditions unique to clients in specific industries, the success of the Company to negotiate contract renewals at comparable terms, limited protection of intellectual property rights, infringement by our services on the property rights of others, legal liability and damage to our professional reputation from claims made against our work, and risks related to merger, acquisition and strategic investment strategy.
FOR FURTHER INFORMATION
Investors: Media:
James Trouba Dorothy Chisholm
Tel: (248) 848-2267 Tel: (248) 848-2283
