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Portal Software Postpones Q3 FY05 Earnings Teleconference
CUPERTINO, Calif. --(Business Wire)-- Dec. 13, 2004 -- Portal Software, Inc. (Nasdaq: PRSF) today announced that it has postponed its earnings release for the third quarter of fiscal 2005, previously scheduled for Monday, December 13. The Company and its external auditors are working to complete the quarterly close procedures.
Under the direction of the new CEO and CFO, the company is analyzing its revenue recognition practices to ensure appropriate application to Portal's financial results. Pending completion of this effort, the company will reschedule the release of its financial results for the quarter ended October 29, 2004.
The areas under analysis generally involve the application of revenue recognition principles and do not include any questions about bookings or cash flow.
"The company is working diligently to finalize these matters and announce our results as soon as possible," said Dave Labuda, Chief Executive Officer. "We will announce a new schedule for our earnings call as soon as we complete our analysis."
About Portal Software, Inc.
Portal is the leading worldwide provider of billing and Revenue Management solutions for the global communications and media markets. The company delivers the only platform for the end-to-end management of customer revenue across offerings, channels, and geographies. Portal's solutions enable companies to dramatically accelerate the launch of innovative, profit-rich services while significantly reducing the costs associated with legacy billing systems. Portal is the Revenue Management partner of choice to the world's leading service providers including: Vodafone, AOL Time Warner, Deutsche Telekom, Telstra, TELUS, NTT, China Telecom, Reuters, Telstra, China Mobile, Telenor Mobil, and France Telecom.
Forward Looking Statement
Statements in this release contain forward looking statements that involve uncertainties and risks. These and other factors are described in detail in our Annual Report on Form 10-K for the fiscal year ended January 31, 2004 and our quarterly reports on Form 10-Q. All statements made in this press release are made only as of the date set forth at the beginning of this release. Portal undertakes no obligation to update the information in this release in the event facts or circumstances subsequently change.
Copyright(C) 2004 Portal Software, Inc. All rights reserved. Infranet and the Portal logo are U.S. registered trademarks, and Portal is a trademark of Portal Software, Inc. All statements made in this press release are made only as of the date set forth at the beginning of this release.
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