Netcentives Transforms its Relationship with America Online
Contact:
Stacey Levitz/Investor Relations
Netcentives Inc.
415.615.2365
Stacey@netcentives.com
Jennifer Ploszaj/Public Relations
Netcentives Inc.
415.615.4519
jploszaj@netcentives.com
Company Reiterates Top Line Expectations for Second Quarter 2001
SAN FRANCISCO – June 12, 2001 – Netcentives Inc. (Nasdaq: NCNT), a leader in providing personalized email, rewards and recognition solutions today announced it has amended its ongoing contract with America Online. The amendment transforms the relationship from a transactional fee structure to a non-exclusive technology licensing arrangement and runs concurrent with the initial 3-year contract term.
Eric Larsen, Netcentives chairman and chief executive officer said, "Transforming our agreement with America Online demonstrates the Company’s commitment to continually evolve our business relationships to meet our customers needs. This is consistent with Netcentives’ strategy to focus our outsourcing services primarily on the retail and financial services segments and to license our technology to companies that have ample internal operating capabilities. Technology licensing allows Netcentives to address a broader marketplace with high gross margin potential. We are excited to build on our foundation with America Online."
Larsen concluded, “We look forward to reporting our second quarter financial results on July 24, 2001 consistent with previous guidance. The Company expects second quarter revenue in the range of $11 - $13 million.”
About Netcentives Inc.
San Francisco-based Netcentives Inc. is the leading provider of personalized email, rewards and recognition solutions. The company offers a broad suite of offline and online products including email communications, sales force incentives, loyalty and rewards solutions for retail and financial institutions. Netcentives continues to differentiate itself through its integrated marketing approach, which includes experienced client service teams, leading-edge technology and expert consulting. More than 300 companies have partnered with Netcentives to drive their revenue and reduce costs. For more information, visit www.netcentives.com.
©2001 Netcentives Inc. All rights reserved. Netcentives and ClickRewards are registered trademarks of Netcentives Inc. Other product and company names herein may be trademarks of their respective owners.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, regarding Netcentives` business strategy and future plans and projected results of operations. Forward-looking statements involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These and other important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by Netcentives, may cause Netcentives’ actual results and performance to differ materially from the future results and performance expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release speak only as of the date hereof and Netcentives expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Netcentives’ expectations or future events.
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