"During 2012, we also strengthened Edgewater's brand and reach in the Oracle and Microsoft product-based consulting channels. We continued to expand critical mass in these channels and leverage our brand name recognition as a means to facilitate growth. Additionally, we successfully capitalized upon our expertise in the Microsoft channel through the development of intellectual property, which we use as a branded sales differentiator and delivery accelerant. As a result of these efforts, we were awarded the 2012 Microsoft Dynamics Manufacturing Partner of the Year.
"As we look toward 2013, we intend to continue our investments in intellectual property, which is a key component of product-based consulting. We believe that vertically focused IP, in combination with a deep understanding of product-based consulting services, will reinforce our brand and expand our channel influence."
Ms. Singleton concluded: "We are seeing signs of traction with respect to new deal signings in the middle of the first quarter of 2013. Given this, we believe that our first quarter 2013 service revenue will be up from the fourth quarter of 2012."
Conference Call and Webcast InformationEdgewater has scheduled a conference call today (Wednesday, February 27, 2013) at 10:00 a.m. Eastern time to discuss its fourth quarter and full year 2012 results. Date: Wednesday, February 27, 2013 Time: 10:00 a.m. Eastern Time Dial-in number: 1-877-713-9347 Webcast: http://ir.edgewater.com/ Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios Group at 1-949-574-3860. A replay of the conference call can be accessed via Edgewater's investor relations web site at http://ir.edgewater.com/ or by dialing 1-855-859-2056 (Conference ID#: 95227617) after 1:00 p.m. Eastern time through Wednesday, March 13, 2013. About Edgewater Edgewater Technology, Inc. (Nasdaq:EDGW) is a strategic consulting firm delivering a blend of classic consulting and product-based consulting services. Edgewater addresses the market both vertically by industry and horizontally by product and technology specialty, providing its client base with a wide range of business and technology solutions. As one of the largest IT consulting firms based in New England, the Company works with clients to reduce costs, improve processes and increase revenue through the judicious use of technology. Edgewater's brand names include Edgewater Technology, Edgewater Consulting, Edgewater Ranzal and Edgewater Fullscope. To learn more, please visit www.edgewater.com . The Edgewater Technology logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3783 Forward-Looking Statements This Press Release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning our expected first quarter 2013 service revenue, intellectual property investments in 2013 and expand channel influence. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on our current plans or assessments which are believed to be reasonable as of the date of this Press Release. Factors that may cause actual results, goals, targets or objectives to differ materially from those contemplated, projected, forecasted, estimated, anticipated, planned or budgeted in such forward-looking statements include, among others, the following possibilities: (1) failure to obtain new customers or retain significant existing customers; (2) the loss of one or more key executives and/or employees; (3) changes in industry trends, such as a decline in the demand for Business Intelligence ("BI"), Enterprise Performance Management ("EPM") and Enterprise Resource Planning ("ERP") solutions, custom development and system integration services and/or declines in industry-wide information technology ("IT") spending, whether on a temporary or permanent basis and/or delays by customers in initiating new projects or existing project milestones; (4) inability to execute upon growth objectives, including new services and growth in entities acquired by our Company; (5) adverse developments and volatility involving economic, geopolitical or technology market conditions; (6) unanticipated events or the occurrence of fluctuations or variability in critical accounting policies and estimates; (7) delays in, or the failure of, our sales pipeline being converted to billable work and recorded as revenue; (8) termination by clients of their contracts with us or inability or unwillingness of clients to pay for our services, which may impact our accounting assumptions; (9) inability to recruit and retain professionals with the high level of information technology skills and experience needed to provide our services; (10) any changes in ownership of the Company or otherwise that would result in a limitation of the net operating loss carry forward under applicable tax laws; (11) the failure of the marketplace to embrace advisory and product-based consulting services; (12) changes in the market for leased office space and/or (13) failure to make a successful claim against the Fullscope escrow accounts. In evaluating these statements, you should specifically consider various factors described above as well as the risks outlined under "Part I - Item IA Risk Factors" in our 2011 Annual Report on Form 10-K filed with the SEC on March 12, 2012. These factors may cause our actual results to differ materially from those contemplated, projected, anticipated, planned or budgeted in any such forward-looking statements.