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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 Revenue Milestone

09/06/2008 3:53pm

Marketwired Canada


Quorum Information Technologies Inc. (Quorum) (TSX VENTURE:QIS) announced today
that it has reached a significant milestone in its core revenue stream, monthly
support. Quorum has five key revenue streams; net new sales, migrations,
integration services, dealer services and support. Recurring support revenues
are a significant key to the valuation, profitability and cash flow of the
company. For the second quarter of FY2008, Quorum will report support revenues
of $1.25 million, an increase of 25% over the $1.0 million reported in Q2
FY2007.


Support revenues primarily increase through sales to new dealership customers
and sales to existing customers of XSELLERATOR(TM) software licenses (each
license has a related support charge).


"We anticipate solid growth in our support revenue numbers for 2008 because we
have already sold 32 dealership rooftops for installation in 2008. Additionally,
we have installed a new licensing application to more proactively manage and
assist our dealerships to ensure their XSELLERATOR and Microsoft licenses are
compliant," commented Maury Marks, Quorum's President and CEO.


About Quorum

Headquartered in Calgary, Alberta, Quorum's focus is on developing, marketing,
implementing and supporting its DMS products for the automotive vertical.
Quorum's suite of dealership and customer management software products automate,
integrate and streamline 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.


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