GTECH Comments on Organization Changes
April 06 2005 - 8:55AM
PR Newswire (US)
GTECH Comments on Organization Changes WEST GREENWICH, R.I., April
6 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK)
today announced that Executive Vice President and Chief Operating
Officer David J. Calabro has elected to retire from the Company
effective May 15, 2005. In making the announcement, GTECH President
and Chief Executive Officer W. Bruce Turner said, "Since his
arrival over six years ago, Dave has played an important role in
helping GTECH to re-gain and maintain its leadership in the lottery
industry. His contributions have been significant and much
appreciated. We all wish him well in his future endeavors." It was
also announced that Mr. Turner will assume Mr. Calabro's
responsibilities. He continued by saying, "As we drive our growth
plan and evolve into a more widely diversified gaming company, our
management structure and organizational focus must evolve as well
to ensure our success. I look forward to taking on an expanded
operational role to continue delivering on our growth objectives."
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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