GTECH to Prepay 7.87% Series B Guaranteed Senior Notes Due 2007
April 13 2004 - 8:15AM
PR Newswire (US)
GTECH to Prepay 7.87% Series B Guaranteed Senior Notes Due 2007
WEST GREENWICH, R.I., April 13 /PRNewswire-FirstCall/ -- GTECH
Holdings Corporation today announced that its wholly-owned
subsidiary, GTECH Corporation, will prepaythe $90.0 million
aggregate principal amount of its 7.87% Series B Guaranteed Senior
Notes due May 2007, plus accrued interest and applicable fees on
May 13, 2004. The Notes were issued by the Company in a private
placement in 1997. The Company intends to use cash on hand to fund
the prepayment. 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. 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 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 relativelysmall number of the
Company's customers; (vii) the possibility of significant
fluctuation of quarterly operating results; (viii) the intensity of
competition in the lottery industry; (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 $1 billion in revenues and 5,000 people in
44 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 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 CONTACT:
Robert K. Vincent, Public Affairs of GTECH Corporation, +1-401-
392-7452 Web site: http://www.gtech.com/
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