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January 4, 2005

Pegasystems COO quits as results disappoint

Business process management software provider Pegasystems Inc expects a disappointing end to the year with revenue, pre-tax profit and cash flow from operations within the lower part or slightly below the previously announced guidance ranges.

By CBR Staff Writer

The Cambridge, Massachusetts company had forecast in October that revenue for the year to December 31 would be in the range of $95 million to $103 million, profit before tax between $11 million to $17 million, and 2004 cash flow from operations in the range of $7 million to $11 million.

CEO Alan Trefler drew comfort from the fact that license signings in the fourth quarter were among the strongest in the company’s history.

The company also said that president and COO Henry Ancona is quitting the company, effective immediately. Trefler will take over the tasks he handled.

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