IMI Reports Gains

Turnaround strategy combined with investment by Symphony Technology Group

Turnaround strategy combined with investment by Symphony Technology Group

Mt. Laurel, NJ — August 8, 2003 — Industri-Matematik International Corp. (IMI) this week reported its results for the first half of 2003, including financial and product gains that it said are the result of its turnaround strategy.

IMI said the initiative was marked by both the appointment of Timothy Campbell as company president and CEO in January 2003 and the company's acquisition by Symphony Technology Group.

IMI said its new strategy focuses on demonstrating long-term viability to benefit all stakeholders, strengthening customer relations and developing solutions for consumer goods manufacturers and retail supply chains.

The company's 2003 results to date include a return to profitability with the company posting two consecutive profitable quarters, according to IMI. IMI Central Europe also allied with Cap Gemini Ernst & Young to initiate the "Responsive Retail Logistics" program for the European retail community.

IMI said the American retailer Wild Oats is implementing IMI Store software with positive results noted in its replenishment and order processes. Additionally, Price Chopper Supermarkets has now rolled out IMI Store, which offers item and inventory management, to over 100 of its stores. Also Holtung AS, the third largest Norwegian pharmaceutical wholesaler, selected IMI Order software to provide Internet-based ordering capabilities and manage the high-volume order spikes it receives each day.

IMI recently announced the development of business performance management solutions integrated into the IMI supply chain software suite, and the company released IMI Order 8.1, the latest version of its order management software. It also released IMI Warehouse 4.1 software with real-time planning, controls, monitoring and execution.