PKCY - Park City Group, Inc. Park City Group Inc
333 Main Street, P.O. Box 5000
Park City, UT 84060
Phone: (435) 649-2221
Email: marketing@parkcitygroup.com
Web Site: http://www.parkcitygroup.com/index1.htm
DETAILS
Index Membership: N/A
Sector: Technology
Industry: Software & Programming
Employees (last reported count): 47
REUTERS ABRIDGED BUSINESS SUMMARY
Park City Group, Inc., formerly Fields Technologies, Inc., is a software company that provides business operation management solutions, such as labor management and cost/category management software and consulting services to the retail sector of the market. The Company's ActionManager and Fresh Market Manager applications are offered as a set of software solutions to retailers in the store operations management and perishable product management areas. Because the product concepts originated in the environment of actual multi-unit-retail chain ownership, the products are strongly oriented to an operation's bottom line results. The products are pragmatic in their approach to standardizing and improving managerial actions. Finally, the products are executed on a fully developed, contemporary patented technology platform that is not only capable of supporting existing offerings, but can also be expanded to support related products.
For the nine months ended 3/04, revenues rose 21% to $4.6 million. Net loss fell 74% to $371 thousand. Results reflect an increase in software license revenues and cost control measures implemented.
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Press Release - Park City Group (OBB : PKCY)
Buying Opportunity For PKCY/Fortune Magazine Article
July 1, 2004 6:00:00 AM
Park City Group Inc. (OTCBB:PKCY) announced today that its CEO, Randy Fields, participated as a Small Business Expert in a recent small Biz Makeover feature in Fortune magazine. Small Biz Makeover takes a willing small business company and asks three highly experienced industry experts to provide them with an analysis of the business opportunity and recommend actions to be taken to improve the small business' operations.
Selected as one of the three industry experts, Fields delivered an analysis of Marvelous Market of Fairfax Va., suggesting that a clearly defined focus on the retail operation and leveraging the already good customer service relationship into a superior one because of the real impact to the business' bottom line. Marvelous Market CEO Myers was enthusiastic about Fields participation in the process because he had studied the Harvard case study on the Mrs. Fields operation.
"I saw in Marvelous Market the same type of potential that he experienced in Mrs. Fields Cookies," noted Fields. "Our Mrs. Fields Cookies experience has been invaluable. We have incorporated many of the things we learned, by both doing it right as well as learning from doing it wrong, into our business practices we share with our customers at Park City Group today."
"I really enjoyed participating in the Fortune small business makeover challenge," said Fields. "And now that Marvelous Market has become a customer for our PAYGo subscription deployment, we'll have a chance to see first hand how well the recommendations we made get implemented."
The April 28, 2004 Fortune article, "So You're Marvelous. What's Next?" can be viewed from the Fortune Magazine Web site: http://www.fortune.com/fortune/smallbusiness/marketing/articles /0,15114,614405-2,00.html. (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field.)
About Park City Group:
Park City Group Inc. develops and markets patented computer software that helps its retail customers to increase their sales while reducing their inventory and labor costs: the two largest, controllable expenses in the retail industry. The technology has its genesis in the operations of Mrs. Fields Cookies, co-founded by Randy Fields, CEO of Park City Group Inc. Industry leading customers such as The Home Depot, Victoria's Secret, The Limited, Anheuser Busch Entertainment and Tesco Lotus benefit from our software.
Feel free to contact us (media contact Randy Fields) at 800-772-4556 or info@parkcitygroup.com.
To find out more about Park City Group (OTCBB:PKCY), visit our Web site at www.parkcitygroup.com.
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Park City Group Generates Significant Interest During Recent International Dairy, Deli and Bakery Show
Monday June 14, 7:09 pm ET
PARK CITY, Utah--(BUSINESS WIRE)--June 14, 2004--Park City Group Inc. (OTCBB:PKCY - News; Berlin:WKN#925919), whose software solutions for retail companies that include The Home Depot, Victoria's Secret, Anheuser Busch Entertainment, Wawa Inc., Schnuck Markets, Price Chopper and Tesco Lotus, announced today that the company received very positive feedback on PAYGo, its new Pay-As-You-Go subscription licensing service and its Fresh Market Manager solution, from prospective customers at the recent International Dairy, Deli and Bakery (IDDBA) tradeshow and conference held in Washington, DC.
"IDDBA and its tradeshow are a highlight of our marketing efforts," said Randy Fields, CEO and president of Park City Group. "The International Dairy, Deli and Bakery show attendees are the specific target market upon which we are focusing our efforts with Fresh Market Manager. The attendees at this conference were the types of prospective company decision makers who will determine the potential of our product in their companies."
The numerous contacts made during the tradeshow are actively being pursued with presentations and demonstrations. "As a matter of fact we have done a number of follow-up calls and are even making a special presentation to one prospect's executive management team this week," continued Fields. "Prior to the show, we were unaware of the level of interest of this prospect and now we're going to be addressing the high level decision makers -- due in part to our successful presentation during the IDDBA show."
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Park City Group's New Subscription Product Exceeds Expectations in Multi-Billion Dollar Small to Mid Size Grocery Segment
Sunday June 13, 7:07 pm ET
PARK CITY, Utah--(BUSINESS WIRE)--June 13, 2004--Park City Group, Inc. (OTCBB:PKCY - News; Berlin: WKN# 925919) announced that a better than anticipated response to PAYGo, the Pay-As-You-Go subscription offering has resulted in a targeted sales focus and an increase in anticipated revenue generation from sales to the mid to small sized grocery chains. The mid to small sized grocery chains represent 58% (46,800 stores) of the total domestic grocery and supermarkets in the 2003 census according to the Progressive Grocer 71st annual report of the Grocery Industry published in April of this year. "There is significant potential in this market which is the focus of our efforts," notes Randy Fields, CEO and President of Park City Group. "If we were able to capture between 1-5% of the stores within this segment we'd be looking at 470 to 2,340 locations. When you consider that a single department within a location using the PAYGo option would be around $350 in subscription fees per month, the Company would be generating approximately $165,000 a month with just a 1% market penetration. Recognizing that the average deployment of our Fresh Market Manager product usually is to at least 3 departments, it would mean that within the same 470 locations an additional $329,000 per month is not an unreasonable estimate for the monthly potential revenues."
Recurring and predictable revenues, like those from a subscription option such as PAYGo were identified in a recent Wall Street Journal article as a better indicator to shareholders of the stability, potential revenues and growth of a company. Recurring revenues help to smooth the traditional software company's roller-coaster sales revenue recognition and recurring revenues are consistent and represent a more stable revenue and growth model.
The PAYGo program itself has been in place for less than two months and the Company's first PAYGo customer, Marvelous Market of Fairfax Virginia was announced at the IDDBA tradeshow last week. "Marvelous Market defied the traditional sales cycle with their rapid decision to use PAYGo," said Fields. "We're hoping they are just the first of many opportunities that will come to a decision and initiate an implementation in about a third of the time of a traditional license sale."
"It was our plan to have three new PAYGo customers licensed, implemented and acting as customer references by September," continues Fields. "The response has been almost overwhelming and based on the number and quality of the presentations we have made and the rapid progression of the sales cycle, it is looking like we may have to ramp-up our efforts to support more customers than we had planned."
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Park City Group Signs Marvelous Market as First Pay-As-You-Go Customer
Friday June 4, 10:30 am ET
PARK CITY, Utah--(BUSINESS WIRE)--June 4, 2004--Park City Group Inc. (OTCBB:PKCY - News; Berlin:WKN#925919) announced today that Marvelous Market will be the first customer for the Company's PAYGo (Pay-As-You-Go) deployment option. Pay-As-You-Go or PAYGo is a subscription service that provides a cost-effective deployment option that is rapidly implemented (60-90 days) and delivers the results the customers need for improving business operations.
Fairfax, Va. based Marvelous Market is a $10 million boutique food store chain, specializing in artisan breads, pastries, sandwiches and fresh ready-to-heat entrees. Marvelous Markets will initially be deploying Park City Group's Fresh Market Manager in its 10 store locations and will be deploying computer-assisted ordering for its Commissary, and will follow these deployments with the labor scheduling application.
With the addition of Marvelous Market to its customer list, the company will be able to expand its presence into the food service market segment in addition to their existing target markets, including grocery, convenience/gas, quick service restaurants and other retail markets.
Pascal Bouvier, chief financial officer of Marvelous Market, stated, "This opportunity will allow us to use a proven solution, with a minimum of costs, using a rapid deployment and attaining a return on our investment in months rather than years."
Marvelous Market, recently featured in Fortune Magazine as a Small Business Makeover Case Study, is in the process of evaluating its business options for growth and profitability.
"During the Small Business Makeover we were exposed to a number of industry luminaries, including Randy Fields, who provided us with invaluable wisdom from his Mrs. Fields Cookies days. We also discovered that Park City Group makes the very technology that we needed in our high growth company," added Bouvier.
"We are eager to begin working with Marvelous Market, a forward thinking company with a vision. We anticipate a rapid and successful implementation that will take weeks rather than months," added Randy Fields, CEO of Park City Group. "PAYGo has been well received and it has been amazing to see grocers actually get excited and more interested when we tell them they can use the same solutions as the large chains but for a fraction of the cost."
The Fresh Market Manager and ActionManager solutions, originally designed for Mrs. Fields Cookies, falls right in line with Marvelous Market's aggressive growth plans and their need for a rapid implementation and quickly achieving a return on their investment.
According to Fields, the PAYGo deployment option was a major factor in expediting the sales process with Marvelous Market.
About Marvelous Market
Marvelous Market, founded by bread impresario Mark Furstenberg in July 1990, marked the beginning of a neighborhood bread boutique producing and selling traditional European-style sourdough and other specialty breads. Generating amazing media coverage by The Washington Post and New York Times, TV coverage and word of mouth, product demand skyrocketed. After acquiring a local competitor, Baker's Place, in 1997, the Company expanded production capacity and developed the Marvelous Market concept, in addition to the wholesale production that supplies the finest dining facilities in the Washington DC area. To find out more about Marvelous Market, please visit their Web site at www.marvelousmarket.com.
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CEO Increases Visibility of Park City Group and Its Products in Radio Interviews
Wednesday May 26, 9:15 pm ET
PARK CITY, Utah--(BUSINESS WIRE)--May 26, 2004--Park City Group, Inc. (OTCBB:PKCY - News; Berlin:WKN#925919), CEO Randy Fields, whose technology had its genesis in the operations of Mrs. Fields Cookies, has recently completed a number of radio interviews around the U.S. These interviews are increasing the visibility of Park City Group and its products to a broader audience of businesses as well as potential investors.
Mr. Fields shared his experiences and offered recommendations and suggestions to the radio audiences for getting the most from their grocery dollars, a very timely topic to many American families and businesses. These helpful recommendations were based not only on his Mrs. Fields Cookies experience, but also on the knowledge gained in helping customers with their implementation of the Company's Fresh Market Manager products. Fields completed three interviews: one in the Framingham, Mass., area and two other interviews with KBBJ in Buffalo, Wyo., and WJON in St. Cloud, Minn.
"We are using many different methods to increase and improve visibility for our company in our efforts to improve investor awareness. Additionally, we have found that we are getting our message to business people who are interested in what our software can do for their own companies," noted Fields. "I enjoy the opportunity to share my experiences as a retail operator and also as a software CEO, and it is gratifying to see increased interest by radio listeners as they visit our website or send us questions about the Company."
The Company has experienced numerous inquiries from potential investors as well as existing investors, commenting on the increased information available on the Company. "These investors and potential investors have taken the time to provide their feedback on our programs and they have even suggested potential prospects for us to contact. It has even resulted in quite a bit of interest in Fresh Market Manager and has even resulted in a viable prospect that is actively engaged in discussions with the Company. We are very pleased with the benefits we have obtained through our program of worldwide investor and business awareness," said Fields.
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Wawa Inc. Acquires Additional Licenses of Park City Group's Fresh Market Manager Software
Wednesday May 19, 6:32 pm ET
One of the Earliest Park City Group Customers Using Both ActionManager and Fresh Market Manager Demonstrates Product Commitment with Additional Licenses
PARK CITY, Utah--(BUSINESS WIRE)--May 19, 2004-- Park City Group Inc. (OTCBB:PKCY - News; Berlin WKN# 925919) announced today that one of its most successful customers, Wawa Inc., has signed a license agreement for additional locations of Park City Group's Fresh Market Manager software. Wawa Inc. based in Wawa, Penn., has more than 500 convenience and gas stores and has been a long time user of Park City Group software. Wawa is the first customer to use both of the Park City Group's product lines; having first licensed for use the ActionManager products in 1992, Wawa added the Fresh Market Manager applications in 2000.
"We have a long and successful history with Park City Group," stated John Cunningham, director of stores systems for Wawa. "Having started with the ActionManager products, including the Labor Scheduling and drill-down business analytics product, ScoreTracker, our extensive experience with Park City Group and its products has grown stronger over the years. We added the Fresh Market Manager product in 2000 because we could see how this technology would benefit our in-store food service. Park City Group has been an outstanding vendor with which to work. They have provided us with solid technology and timely information from the ActionManager and Fresh Market Manager products. Besides being an outstanding vendor, Park City Group has also been a great partner -- with good products and a very committed customer service team and excellent return on our investment -- these elements are critical to any good partnership."
"Wawa is one of the most important customers to our company because they have had a committed team that has taken responsibility for the deployment of our software," noted Randy Fields, CEO of Park City Group. "We have worked together for a number of years now and I can say without any hesitation that we value Wawa as a customer and as a partner. They have given us many insights into the real needs of customers and have helped us to make our software the success it is today."
About Wawa Inc.
Wawa Inc. was founded in 1803 in New Jersey and incorporated in 1865 as the Millville Manufacturing Company. In 1902 George Wood, Millville's owner opened a small milk plant in Wawa, which specialized in processing and the home delivery of "doctor certified" milk. In the 1960's Grahame Wood, grandson of George Wood recognized the changing trends in the marketplace, and identified the opportunity for a new distribution outlet for the Wawa dairy products. On April 16, 1964, Wawa Markets opened their first store and today, Wawa includes more than 13,000 associates with approximately 500 stores in five states. Wawa offers a large fresh food selection, including Wawa brands like Built-to-Order Hoagies, their award winning Freshly Brewed Coffee (over 125 million cups sold each year), the Sizzli hot breakfast sandwich and quality dairy products. "wawa" is a Lenni Lenape Indian word for the Canada Goose that was found in the Delaware Valley, that's why the goose is used on the Wawa corporate logo. To find out more about Wawa Inc., visit their Web site at www.wawa.com.
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Park City Group Receives Positive Feedback on New PAYGo Solution at Grocery Industry Tradeshow
Wednesday May 12, 10:22 am ET
PARK CITY, Utah--(BUSINESS WIRE)--May 12, 2004--Park City Group, Inc. (OTCBB:PKCY - News; Berlin:WKN#925919) announced today that the Company received very positive feedback on its new subscription licensing service from prospective customers at the recent Food Marketing Institute's FMI tradeshow and conference held in Chicago, IL. Park City Group recently announced the PAYGo Solution, a Pay-As-You-Go subscription service for companies to use Fresh Market Manager and ActionManager applications. "It is with this new offering that our Fresh Market Manager and ActionManager applications can be available to the whole grocery and supermarket industry, not just larger supermarket chains," said Randy Fields, CEO and President of Park City Group. "The response we received was extraordinary, especially from the regional and specialty grocery chains. You could see them actually get excited and more interested when we told them they could use the same solutions as the large chains, but for a fraction of the cost by selecting the PAYGo option.
"The small to mid-sized market is approximately 25,000 stores (according to the Progressive Grocer Report, April 2004). Being able to address the needs of this segment of the grocery market that is often underserved because of the resource and cost requirements to deploy an enterprise software solution makes us a good solution to consider," continues Fields. "Much like our experience from our Mrs. Fields Cookies days, the PAYGo solution offers a depth and breadth of functionality that can be used whether the grocer is 5 locations or 5,005 locations. It is exactly the same software but the tailoring of the product makes it scaleable and therefore it can grow in sophistication to match the business growth."
Numerous prospective customers viewed Fresh Market Manager and ActionManager at the Company's booth on the tradeshow floor. Fields notes, "Prospective customers walked away with the knowledge that they can benefit from our products for a minimal initial cost that will lead to a rapid payback. We have many follow-up calls and presentations to make in the next few weeks that hopefully will result in a number of new PAYGo customers."
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Price Chopper Adds Deli Department to Its Park City Group Fresh Market Manager Implementation
Monday May 3, 12:02 am ET
Fresh Market Manager Already Licensed in Bakery and Produce
CHICAGO--(BUSINESS WIRE)--May 3, 2004--Park City Group, Inc. (OTCBB:PKCY - News; Berlin: WKN# 925919) announced today that it has signed an additional license agreement with Price Chopper, the Schenectady, New York based grocer, to deploy its Fresh Market Manager software in the Deli department of 106 stores. Price Chopper, an already successful user of Park City Group's product for perishable item management, has deployed the product in their Bakery and Produce departments. The announcement came here at the 2004 Food Marketing Institute (FMI) show.
Tom Nowak, CIO of Price Chopper notes, "We have been pleased with our implementation of Fresh Market Manager in the Bakery and Produce departments. Our intention is to deploy Fresh Market Manager across all of the perishable departments in the store. Based on our success in both Bakery and Produce, we decided the next logical department was Deli. The complexity of Deli, in terms of management, makes it a great candidate for the capabilities of FMM. We would anticipate the same types of visibility and identification of opportunities to improve the operation and profitability of the Deli department in a similar fashion to our results in Bakery and Produce. Park City Group has been an outstanding vendor to work with, providing us not only with a solid technology but also with on-going consulting concerning strategies and tactics for better utilizing the information that FMM provides."
"With the addition of the Deli department to the Price Chopper's existing deployment, we are encouraged that our strategy for Fresh Market Manager license growth is on target," states Randy Fields, CEO of Park City Group. "We have looked at the implementation of our product at Price Chopper, and it is one of the most successful and rapid deployments of the product. Our commitment to our customers' success as a reflection of our success has been demonstrated by the new department "add-on" licenses from Price Chopper."
"From the timely product deployment to the continuous support we have received, I can say that the partnership between Price Chopper and Park City Group has been an excellent one," states Nowak. "Park City Group and Fresh Market Manager have delivered on the promises made to us."
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VALUATION MEASURES
Market Cap (intraday): 19.97M
Enterprise Value (5-Jul-04)³: 25.60M
Trailing P/E (ttm, intraday): N/A
Forward P/E (fye 30-Jun-05)¹: 0.00
PEG Ratio (5 yr expected)¹: N/A
Price/Sales (ttm): 3.07
Price/Book (mrq): N/A
Enterprise Value/Revenue (ttm)³: 4.16
Enterprise Value/EBITDA (ttm)³: N/A
FINANCIAL HIGHLIGHTS
Fiscal Year
Fiscal Year Ends: 30-June
Most Recent Quarter (mrq): 31-Mar-04
Profitability
Profit Margin (ttm): -64.31%
Operating Margin (ttm): -33.36%
Management Effectiveness
Return on Assets (ttm): -146.88%
Return on Equity (ttm): N/A
Income Statement
Revenue (ttm): 6.15M
Revenue Per Share (ttm): 0.027
Revenue Growth (lfy)³: 257.80%
Gross Profit (ttm)²: 4.25M
EBITDA (ttm): -1.59M
Net Income Avl to Common (ttm): -3.95M
Diluted EPS (ttm): -0.019
Earnings Growth (lfy)³: N/A
Balance Sheet
Total Cash (mrq): 897.00K
Total Cash Per Share (mrq): 0
Total Debt (mrq)²: 6.53M
Total Debt/Equity (mrq): N/A
Current Ratio (mrq): 0.371
Book Value Per Share (mrq): -0.023
Cash Flow Statement
From Operations (ttm)³: 338.44K
Free Cashflow (ttm)³: N/A
Stock Price History
Beta: 1.715
52-Week Change: 87.50%
52-Week Change (relative to S&P500): 64.23%
52-Week High (16-Mar-04): 0.20
52-Week Low (29-Dec-03): 0.022
50-Day Moving Average: 0.09
200-Day Moving Average: 0.07
Share Statistics
Average Volume (3 month): 496,909
Average Volume (10 day): 119,000
Shares Outstanding: 266.22M
Float: 61.20M
% Held by Insiders: 77.01%
% Held by Institutions: 0.00%
Shares Short : N/A
Daily Volume : N/A
Short Ratio : N/A
Short % of Float : N/A
Shares Short (prior month): N/A
Dividends & Splits
Annual Dividend: N/A
Dividend Yield: 0.00%
Dividend Date: N/A
Ex-Dividend Date: N/A
Last Split Factor (new per old)²: N/A
Last Split Date: N/A
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PKCY - PARK CITY GROUP (OTCBB)
Date Open High Low Last Change Volume % Change
07/02/04 0.07 0.08 0.07 0.08 +0.00 86500 +5.63%
Composite Indicator
Trend Spotter (TM) Sell
Short Term Indicators
7 Day Average Directional Indicator Buy
10 - 8 Day Moving Average Hilo Channel Hold
20 Day Moving Average vs Price Sell
20 - 50 Day MACD Oscillator Sell
20 Day Bollinger Bands Hold
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This could be good for a quick spin around the block Tuesday morning.
Ruff.
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Due Da Due......But Be Quick About It!!!!!
DaDog
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