Lawson Software (Nasdaq:LWSN) announced today that its stockholders
approved all proposals voted at its Annual Meeting of Stockholders held
today at the company’s headquarters in St.
Paul, Minn.
Voting results for two proposals were as follows:
All nine directors standing for election were approved to serve during
the fiscal year ending May 31, 2008.
Stockholders voted to ratify and approve the appointment of
PricewaterhouseCoopers LLP as independent registered public accounting
firm for the company for the fiscal year ending May 31, 2008.
For those who were unable to attend the meeting in person or listen to
the live conference call or webcast, replay service is available for a
limited time. A telephonic replay will be available for one week. The
toll-free U.S. replay number is 1-866-429-0570, and the international
replay number is 203-369-0912. The webcast replay will remain on www.lawson.com
for approximately two weeks.
Additional information about this Annual General Meeting is available on
the company’s website at www.lawson.com/investor.
About Lawson Software
Lawson Software provides software and service solutions to approximately
4,000 customers in manufacturing, distribution, maintenance and service
sector industries across 40 countries. Lawson’s
solutions include Enterprise Performance Management, Supply Chain
Management, Enterprise Resource Planning, Customer Relationship
Management, Manufacturing Resource Planning, Enterprise Asset Management
and industry-tailored applications. Lawson solutions assist customers in
simplifying their businesses or organizations by helping them streamline
processes, reduce costs and enhance business or operational performance.
Lawson is headquartered in St. Paul, Minn., and has offices around the
world. Visit Lawson online at www.lawson.com.
Forward-Looking Statements
This press release contains forward-looking statements that contain
risks and uncertainties. These forward-looking statements contain
statements of intent, belief or current expectations of Lawson Software
and its management. Such forward-looking statements are not guarantees
of future results and involve risks and uncertainties that may cause
actual results to differ materially from the potential results discussed
in the forward-looking statements. The company is not obligated to
update forward-looking statements based on circumstances or events that
occur in the future. Risks and uncertainties that may cause such
differences include but are not limited to: uncertainties in Lawson's
ability to realize synergies and revenue opportunities anticipated from
the Intentia International acquisition; uncertainties in the software
industry; uncertainties as to when and whether the conditions for the
recognition of deferred revenue will be satisfied; global military
conflicts; terrorist attacks; pandemics, and any future events in
response to these developments; changes in conditions in the company's
targeted industries; increased competition and other risk factors listed
in the company's most recent Quarterly Report on Form 10-Q filed with
the Securities and Exchange Commission. Lawson assumes no obligation to
update any forward-looking information contained in this press release.
Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with generally
accepted accounting principles, or GAAP, Lawson Software reports
non-GAAP financial results. These non-GAAP results exclude amortization
of all acquisition-related intangibles, amortization of purchased
maintenance contracts, Intentia integration costs, restructuring
charges, certain stock-based compensation expenses and other expenses.
In addition, Lawson's non-GAAP financial results include pro forma
revenue for maintenance contracts acquired in the Intentia acquisition
for which the deferred revenue on Intentia's balance sheet has been
eliminated from GAAP results as part of the purchase accounting for the
acquisition. Lawson's management believes the non-GAAP measures used in
this press release are useful to investors because they provide
supplemental information that research analysts frequently use to
analyze software companies that have recently made significant
acquisitions. Management uses these non-GAAP measures to evaluate its
financial results, develop budgets and manage expenditures. The method
Lawson uses to produce non-GAAP results is not computed according to
GAAP, may differ from the methods used by other companies, and should
not be regarded as a replacement for corresponding GAAP measures.
Investors are encouraged to review the reconciliation of these non-GAAP
financial measures to the comparable GAAP results, which is attached to
this release.
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