Thinkpath, Inc. Q2 Revenues To Exceed $10 Million

    TORONTO--July 25, 2001--Thinkpath, Inc. , an IT and engineering services firm, announced today that it expects to report that revenue for the second quarter ended June 30, 2001 will exceed $10 million and that revenue for the first six months of 2001 will exceed $20.6 million.
    Thinkpath will announce its full results for the second quarter on or around August 15, 2001.
    Separately, the Company announced it expects that revenue for the full 2001 year will be in a range between $45 million and $50 million, depending on the timing of new contract start-ups, and will represent an increase over 2000 revenue.
    Commenting on the announcement, Declan French, Chairman and CEO of Thinkpath, stated, "Whereas the environment remains challenging due to the overall economic slowdown, we did experience an increase in business activity in June and the first half of July, and the company is in the final stages of negotiations with a number of major sales contracts; moreover, we are now starting to realize tangible benefits from the cost reductions we implemented earlier this year."