Quorum Releases Q3 Fiscal Year 2011 Results

Quorum Information Technologies Inc. ("Quorum" or the "Company") (TSX
VENTURE:QIS) today released its Third Quarter (Q3) Fiscal Year (FY) 2011
results. Quorum delivers its dealership management system (DMS),
XSellerator(TM), and related services to automotive dealerships throughout North
America. The Company is both an Integrated Dealership Management System (IDMS)
strategic partner with General Motors Corporation (GM) and an industry partner
with Microsoft. Quorum's XSellerator product is broadly promoted to its target
dealerships throughout North America by these prominent companies. 


Maury Marks, Quorum's President and CEO made the following remarks about the
Company's Q3 FY2011 results:


Over the last two years, Quorum has become an "all makes" organization, with a
continued emphasis on GM dealerships. Quorum supplies our product to GM, Isuzu,
Chrysler, Hyundai, Kia, Nissan, Subaru, Saab, NAPA and Bumper to Bumper
franchised dealership customers. As the Company has grown in the market, we have
also enhanced our operational excellence by focusing on measurable improvements.
Some of our key Q3 FY2011 milestones are as follows:




--  Quorum attained 250 installed active dealership rooftops at the end of
    Q3 FY2011. During the quarter we also sold an additional seven
    dealership rooftops that should be installed in Q4 FY2011. For the
    remainder of FY2011, we expect to experience some dealership losses
    attributed to dealerships closing after unsuccessfully operating with a
    new franchise. Our 250 dealership rooftops encompass 8,616 active users
    - approximately 35 users per rooftop. 
--  Our dealership Customer Satisfaction ("CSI") score results in Q3 FY2011
    were as follows: 
    --  CSI semi annual survey - 86% of end users reported "satisfied" or
        "very satisfied" and 89% of dealer principles reported "satisfied"
        or "very satisfied". 
    --  Our monthly Support CSI survey reported an average of 94% "very
        satisfied" with the service they received from our support centre.
--  For XSellerator, we started development on the ground-breaking
    Communicator project which is designed to transform how dealership staff
    is able take advantage of modern technology to communicate with their
    customers and with each other. First release of "Communicator" is
    scheduled for Q1 FY2012. 



Key financial results summary:



--  Sales increased by 1% to $1,874K in Q3 FY2011 up from $1,863K in Q3
    FY2010 and margin after direct costs increased to $1,105K in Q3 FY2011
    compared to $1,059 in Q3 FY2010, a 4% gain. The change in sales is due
    to: 
    --  An increase of $86K in recurring support revenue as a result from
        having 250 active dealership rooftops at the end of Q3 FY2011. 
    --  A decrease of $176K in net new revenue which was a result of
        completing three installations in Q3 FY2011 down from eight
        installations in Q3 FY2010.  
    --  An increase in integration revenue of $102K due to an increased
        number of GM IDMS integration projects. 
--  Earnings before interest, taxes, depreciation and amortization (EBITDA)
    increased to $372K in Q3 FY2011 from $337K in Q3 FY2010. The increase is
    largely due to a reduced cost structure. 
--  Net income increased to $411K in Q3 FY2011 compared to a net loss of
    $292K in Q3 FY2010. The increase is largely due to two non-cash items as
    follows: 
    --  Foreign exchange gain in Q3 FY2011 of $187K and a loss in Q3 FY2010
        of $97K. 
    --  Income tax recovery in Q3 FY2011 of $24K and an expense in Q3 FY2010
        of $283K.
--  Quorum posted its ninth consecutive quarter of cash flow positive
    results. These results are due to a well-managed cost structure and from
    attaining a critical mass of dealerships that generate significant
    higher margin recurring support revenues. 
--  Net working capital at September 30, 2011 was $913,532 with a current
    ratio of 2.37, compared to $640,309 at December 31, 2010, with a current
    ratio of 1.91, an increase of $273,223. 



The Company continues to improve its financial and operational results. Our
single biggest challenge in 2012 is to grow our quarterly sales and
implementation rates. The seven new sales in Q3 FY2011 are a good indication
that we are on the right track. Currently, we are approximately 1/3 of the way
through completing the many Company-wide sales focused improvements that we have
planned. 


In other news, Ms. Marilyn Bown, the Company controller, will take over the role
of Chief Financial Officer (CFO). The Company's existing CFO, Mr. Jeff Sharpe,
is leaving the company to pursue other interests. Quorum wishes to thank Mr.
Sharpe for his contributions to the Company. 


Quorum has filed its Q3 2011 consolidated financial statements and notes thereto
as at and for the period ended September 30, 2011 and accompanying management's
discussion and analysis in accordance with National Instrument 51-102 -
Continuous Disclosure Obligations adopted by the Canadian securities regulatory
authorities. Additional information about Quorum will be available on Quorum's
SEDAR profile at www.sedar.com and Quorum's website at www.QuorumDMS.com.




Financial Highlights                                                        
                                                    (dollar figures in '000)
----------------------------------------------------------------------------
                        Nine Months   Nine Months                           
                              Ended         Ended     Q3 Ended     Q3 Ended 
                          Sept. 30,     Sept. 30,    Sept. 30,    Sept. 30, 
                               2011          2010         2011         2010 
----------------------------------------------------------------------------
Gross revenue          $      5,616 $       5,840 $      1,874 $      1,863 
                                                                            
Direct costs                  2,387         2,543          769          804 
                                                                            
Margin after direct                                                         
 costs                        3,229         3,297        1,105        1,059 
                                                                            
Earnings before                                                             
 interest, taxes and                                                        
 amortization (EBITDA)          934         1,046          372          337 
                                                                            
Net income (loss)                                                           
 before deferred                                                            
 income tax                     534           278          387           (9)
                                                                            
Net income (loss)               404            49          411         (292)
                                                                            
Basic earnings per                                                          
 share                 $     0.0103 $      0.0012 $     0.0105 $    (0.0074)
Fully diluted earnings                                                      
 per share             $     0.0103 $      0.0012 $     0.0105 $    (0.0074)
                                                                            
Weighted average                                                            
 number of common                                                           
 shares                                                                     
Basic                    39,298,428    39,298,438   39,298,438   39,298,438 
Diluted                  39,298,438    39,685,819   39,298,438   39,298,438 
                                                                            
XSellerator                                                                 
 installations - in                                                         
 the period                      15            27            3            8 
XSellerator active                                                          
 dealership rooftops            250           235          250          235 
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                           Q2 Ended     Q2 Ended     Q1 Ended      Q1 Ended 
                           June 30,     June 30,    March 31,     March 31, 
                               2011         2010         2011          2010 
----------------------------------------------------------------------------
                                                                            
Gross revenue          $      1,830 $      2,031 $      1,912  $      1,946 
                                                                            
                                                                            
Direct costs                    771          869          847           870 
                                                                            
Margin after direct                                                         
 costs                        1,059        1,162        1,065         1,076 
                                                                            
Earnings before                                                             
 interest, taxes and                                                        
 amortization (EBITDA)          239          412          323           297 
                                                                            
Net income (loss)                                                           
 before deferred                                                            
 income tax                      45          322          102           (35)
                                                                            
Net income (loss)                93          369         (100)          (28)
                                                                            
Basic earnings per                                                          
 share                 $     0.0024 $     0.0094 $    (0.0025) $    (0.0007)
Fully diluted earnings                                                      
 per share             $     0.0023 $     0.0087 $    (0.0025) $    (0.0007)
                                                                            
Weighted average                                                            
 number of common                                                           
 shares                                                                     
Basic                    39,298,438   39,298,438   39,298,438    39,298,438 
Diluted                  39,684,319   42,398,938   39,684,319    42,398,938 
                                                                            
XSellerator                                                                 
 installations - in                                                         
 the period                       6            9            6            10 
XSellerator active                                                          
 dealership rooftops            249          228          245           221 
----------------------------------------------------------------------------



About Quorum 

Quorum is a North American company focused on developing, marketing,
implementing and supporting its XSellerator product for GM, Isuzu, Chrysler,
Hyundai, KIA, Nissan, Subaru, NAPA and Bumper to Bumper dealerships. XSellerator
is a dealership and customer management software product that automates,
integrates and streamlines every process across departments in a dealership. One
of the select North American suppliers under General Motors' IDMS program,
Quorum is the second largest DMS provider for GM's Canadian dealerships with 25%
of the market. Quorum is a Microsoft Partner in both Canada and the United
States. Quorum Information Technologies Inc. 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, projected costs and 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
September 30, 2011. 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.