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QIS Quorum Information Technologies Inc

0.85
-0.02 (-2.30%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Quorum Information Technologies Inc TSXV:QIS TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.02 -2.30% 0.85 0.86 0.87 0.88 0.85 0.88 7,000 20:59:06

Quorum Announces Period of Record Sales Activity

14/12/2009 12:03pm

Marketwired Canada


Quorum Information Technologies Inc. (Quorum) (TSX VENTURE:QIS) announced today
that it has attained a record level of sales activity. The Company reports that
it has sold fifteen (15) new dealership systems in the past ten (10) weeks. Of
these new sales, eight (8) were in the U.S. while seven (7) were in Canada. Ten
(10) are General Motors franchised dealerships.


"We have seen a remarkable increase in sales activity since the start of the
fourth quarter," commented Mark Allen, Quorum's VP of Sales, Marketing and
Services. "Quorum has been able to achieve this high level of sales performance
through a number of key factors. We have seen some resurgence in our sales
pipeline as a result of the release of pent-up demand that built up during the
recent automotive industry downturn. But, more importantly, we have been able to
capitalize on the demand with the right mix of value and price, including some
great dealer savings programs. Additionally, our base of loyal customers has
supported our growth by providing strong references for new prospects; and
Quorum's five (5) consecutive profitable quarters, despite the economy, has
proven our long-term viability. Finally, with GM now working on its future, the
IDMS program has gained momentum again, including the initiation of new
integration points. Everything has come together at the right time," he
concluded.


Scott Maroni, Quorum's Services Delivery Manager added, "During the automotive
industry downturn, we put plans in place to increase our throughput and improve
an already industry-leading implementation process. The Services Team will use
these process improvements to deploy the newly-sold systems within the first
half of 2010." 


"Even after closing these new sales, our qualified leads pipeline continues to
grow. We have over 30% more leads in the pipeline now than we had just a few
months ago," said Allen.


About Quorum

Quorum is a North American company focused on developing, marketing,
implementing and supporting its XSellerator(TM) product for the automotive
vertical. XSellerator is a dealership and customer management software product
which automates, integrates and streamlines every process across departments in
a dealership. One of the select North American suppliers of General Motors'
IDMS, Quorum is the third largest DMS provider for GM's Canadian dealerships
with over 20% of the market. Quorum is a Microsoft Gold Certified Partner and
Field-Level Managed ISV in both Canada and the United States. Quorum Information
Technologies is traded on the Toronto Venture Exchange (TSX-V) under the symbol
QIS. For additional information please go to www.QuorumDMS.com. 


Forward Looking Information

This press release contains certain forward-looking statements and
forward-looking information ("forward-looking information") within the meaning
of applicable Canadian securities laws. Forward-looking information is often,
but not always, identified by the use of words such as "anticipate", "believe",
"plan", "intend", "objective", "continuous", "ongoing", "estimate", "expect",
"may", "will", "project", "should" or similar words suggesting future outcomes.
In particular, this press release includes forward-looking information relating
to results of operations, plans and objectives, access to capital, liquidity and
trading volumes, projected costs, business strategy, Quorum believes the
expectations reflected in such forward-looking information are reasonable but no
assurance can be given that these expectations will prove to be correct and such
forward-looking information should not be unduly relied upon.


Forward-looking information is not a guarantee of future performance and
involves a number of risks and uncertainties some of which are described herein.
Such forward-looking information necessarily involves known and unknown risks
and uncertainties, which may cause Quorum's actual performance and financial
results in future periods to differ materially from any projections of future
performance or results expressed or implied by such forward-looking information.
These risks and uncertainties include but are not limited to the risks
identified in Quorum's' Management's Discussion and Analysis for the year ended
December 31, 2008. Any forward-looking information is made as of the date hereof
and, except as required by law, Quorum assumes no obligation to publicly update
or revise such information to reflect new information, subsequent or otherwise.


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