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INT MEDIA GROUP RELEASES IT/IS INDUSTRY FORECAST 2002: U.S. AND EUROPE
(New York, NY - December 19, 2001) - INT Media Group, Incorporated (Nasdaq: INTM) today announced the release of its latest report from its CyberAtlas Research Division. "IT/IS Industry Forecast 2002: U.S. and Europe" is an in-depth report that analyzes responses from identical surveys presented to two different panels of high-tech experts to determine what near-term priorities remain for U.S. and European CIOs in light of diminishing sales and constricting IT/IS budgets in 2001. The report reveals which IT/IS priorities remain on schedule for 2002 and what projects have been put off by the first recession in a decade. The report is available at CyberAtlas Research (allnetresearch.internet.com/item/0,3008,2330067_1,00.html) for U.S. $395.According to Patricia Fusco, Managing Editor of CyberAtlas Research and author of this report, after accounting for mid-year budget adjustments in 2001, IT/IS spending in the U.S. and Europe has hit rock bottom. "Given current economic conditions, we anticipate that IT/IS capital spending in the U.S. and Europe will increase by about 2.4% next year," Fusco said. "European IT/IS budgets will be ratcheted up 1.5% during the first six months of 2002, but the U.S. market will remain soft, increasing less than one percent through the second quarter of 2002. The economic outlook changes in the third quarter of 2002. IT/IS vendors that supply goods and services to the public sector will be the first to benefit from sales surges created by the federal governments implementation of Keynesian fiscal policies," Fusco added. "Security and wireless endeavors will top the list of IT/IS spending initiatives early in 2002."
The "IT/IS Industry Forecast 2002: U.S. and Europe" analysis includes the near-term outlook for the IT industry in 2002 as well as which types of IT/IS goods and services will be hot and which will not in both the public and private sectors. This study serves as a baseline, or a working index, that allows readers to monitor the IT/IS industry's recovery from its current economic doldrums on a semi-annual basis within the Fortune 1000 and small to medium-sized enterprise markets.
About INT Media Group
INT Media Group (Nasdaq: INTM), headquartered in Darien, CT, is a leading provider of global real-time news, information and media resources for Internet industry and information technology professionals, Web developers and experienced Internet users. INT Media Group includes the internet.com and EarthWeb Network of 160 Web sites and nearly 225 e-mail newsletters that generate 225 million page views monthly. INT Media Group events include nearly 40 offline internet.com and Intermedia Group seminars on Internet and IT-specific topics that are aligned with our Network of Web sites and e-mail newsletters. In addition, INT Media Group's CyberAtlas Research Division that publishes research reports analyzing the Internet and information technologies sectors worldwide.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release which are not historical facts are "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The potential risks and uncertainties address a variety of subjects including, for example, the competitive environment in which INT Media competes; the unpredictability of INT Media Group's future revenues (including those resulting from online advertising on INT Media Group's Network of Web sites and related Internet media properties), expenses, cash flows and stock price; INT Media Group's investments in international and venture fund investments; any material change in INT Media Group's intellectual property rights and continued growth and acceptance of the Internet and information technology. For a more detailed discussion of such risks and uncertainties, refer to INT Media Group's reports filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934. The forward-looking statements included herein are made as of the date of this press release, and INT Media Group assumes no obligation to update the forward-looking statements after the date hereof.
For more information contact:
Mary Ann Boland
Marketing and Public Relations Associate
212-547-7939
[email protected]
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