GTECH's Third Technology Center Earns Prestigious CMM Level Three Rating
March 23 2005 - 4:30PM
PR Newswire (US)
GTECH's Third Technology Center Earns Prestigious CMM Level Three
Rating WEST GREENWICH, R.I., March 23 /PRNewswire-FirstCall/ --
GTECH Holdings Corporation (NYSE:GTK) today announced that its
wholly-owned subsidiary, GTECH Corporation, has earned the Software
Engineering Institute (SEI) Software Capability Maturity Model
(CMM(R)) Level 3 rating for its Warsaw Technology Center, located
in Warsaw, Poland. The Warsaw Technology Center joins GTECH
Technology Centers in Austin, Texas, and Chennai, India as CMM
Maturity Level 3 certified for the Company's software engineering
practices, representing a major technological milestone for the
Company. "GTECH has solidified its position as the industry leader
with this impressive achievement," said GTECH President and CEO W.
Bruce Turner. "GTECH joins a short list of prestigious global
corporations who have successfully reached Level 3 certification in
three separate facilities in three geographic locations. The amount
of dedication required to embrace this type of process change
across organizations and continents is significant. "Customer
service is GTECH's top priority and the CMM Level 3 certification
process has resulted in significant improvements to the Company's
business efforts," continued Mr. Turner. "GTECH has realized
numerous cost efficiencies, quality improvements, improved employee
morale and, most importantly, improved customer satisfaction as a
result of our CMM initiative. Without question, these improvements
have proven to be a competitive differentiator." The SEI ratings
are comprised of five maturity levels and are an indication of an
organization's commitment to providing an organized and managed
approach to software development. GTECH's CMM Level 3 maturity was
confirmed through an independent assessment led by the Systems and
Software Consortium, Inc. (SSCI), a nonprofit organization of
industry, government, and academia focused on helping its members
advance the business performance of their systems and software
engineering practices. CMM Level 3 maturity demonstrates that GTECH
has implemented and documented a standard process for creating and
maintaining software, and reflects GTECH's ability to consistently
apply software engineering and management practices across its IT
project portfolio. Although it was not necessary for Austin and
Chennai to be reassessed for Level 3 maturity, GTECH requested the
reassessment to confirm that the Company sustained its maturity
level across all Technology Centers while integrating the Warsaw
service team into its processes. Established in 1986 at Carnegie
Mellon University, the SEI Capability Maturity Model assists many
government agencies and private sector organizations in selecting
reliable and high quality suppliers of software products and
services. Certain statements contained in this press release are
forward looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. The Company identifies forward looking statements by
words such as "may," "will," "should," "could," "expect," "plan,"
"anticipate," "intend," "believe," "estimate," "continue," or
similar words that refer to the future. Such statements include,
without limitation, statements relating to the prospects and
financial outlook for the Company, which reflect management
assumptions regarding: (i) the future prospects for and stability
of the lottery industry and other businesses in which the Company
is engaged or expects to be engaged, (ii) the future operating and
financial performance of the Company (including, without
limitation, expected future growth in revenues, profit margins and
earnings per share), and (iii) the ability of the Company to retain
existing business and to obtain and retain new business. Such
forward looking statements reflect management's assessment based on
information currently available, but are not guarantees and are
subject to risks and uncertainties that could cause actual results
to differ materially from those contemplated in the forward looking
statements. These risks and uncertainties include, but are not
limited to, those set forth above, in the Company's subsequent
press releases and on reports by the Company on Forms 10-K, 10-Q
and 8-K, and other reports and filings with the Securities and
Exchange Commission, as well as risks and uncertainties respecting:
(i) the potential impact of extensive and evolving government
regulations upon the Company's business; (ii) the ability of the
Company to continue to retain and extend its existing contracts and
win new contracts; (iii) the possibility of slower than expected
growth or declines in sales of lottery and gaming goods and
services by the Company or the Company's customers; (iv) exposure
to foreign currency fluctuations; (v) risks and uncertainties
inherent in doing business in foreign jurisdictions; (vi) the
relatively large percentage of the Company's revenues attributable
to a relatively small number of the Company's customers; (vii) the
possibility of significant fluctuation of quarterly operating
results; (viii) the intensity of competition in the lottery and
gaming industries; (ix) the possibility of substantial penalties
under and/or termination of the Company's contracts; (x) the
ability of the Company to respond to technological change and to
satisfy the future technological demands of its customers; (xi)
opposition to expansion of lottery and gaming; (xii) the Company's
ability to attract and retain key employees; and (xiii) the
possibility of adverse determinations in pending legal proceedings.
GTECH, a leading global information technology company with over $1
billion in revenues and more than 5,400 people in over 50
countries, provides software, networks, and professional services
that power high-performance, transaction processing solutions. The
Company's core market is the lottery industry, with a growing
presence in commercial gaming technology and financial services
transaction processing. For more information about the Company,
please visit GTECH's website at http://www.gtech.com/. Contact:
Robert K. Vincent Public Affairs GTECH Corporation 401-392-7452
DATASOURCE: GTECH Holdings Corporation CONTACT: Robert K. Vincent,
Public Affairs of GTECH Corporation, +1-401-392-7452 Web site:
http://www.gtech.com/
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