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Quadrant 4 Systems Corporation Announces 2010 Year-End Results
Press Release Source: Zolon Corporation On Thursday May 19, 2011, 3:36 pm EDT ROLLING MEADOWS, IL--(Marketwire - 05/19/11) - Quadrant 4 Systems Corporation (Quadrant) (OTC.BB:ZLON - News) -- formerly known as Zolon Corporation today announced its financial and operational results for 12 months ended 2010.
Financial and Operational Highlights:
•Revenues increased to $15,233,596 for 12 months ended December 31, 2010, compared to $168,863 for the prior year end •The increase in revenue was due to the Company's acquisition of three entities during the year ended December 31, 2010 •In May 2010, the Company acquired 100% of the outstanding shares of VSG Acquisition, Inc. (VSG), RMI Acquisition, Inc. (RMI) and from StoneGate Holdings, Inc. and in July 2010, acquired the assets of Integrated Software Solutions, Inc. •In June 2010, the Company changed its primary business model by broadening its computer consulting services and selling solutions that are bundled with technology
Dhru Desai, Chairman of the Board for Quadrant 4, stated, "We are pleased to report $1.44 million in EBITA for the 2010 year-end with revenues of $15.2 million. We began pursuing Software Technology and services enabled businesses and focus on Healthcare, Telecom and Financial service markets under new management last year and the Company is continuing to gain momentum."
"We have now acquired a significant client base in our targeted segments and will continue to grow our solutions portfolio and skill sets in emerging technologies including Cloud Computing and Business Intelligence. We have integrated over 500 employees skilled in a broad range of technologies to our worldwide delivery organization," said Dr. Nandu Thondavadi, CEO of Quadrant 4 Systems.
About Quadrant 4 Systems Corporation Quadrant 4 Systems Corporation delivers end-to-end information technology solutions to its clients through a unique blend of consulting, software development & maintenance, cloud based products and technology from its global delivery centers. The company currently focuses on Financial Services, Health Care, Retail, Manufacturing and Telecommunication sectors with a broad spectrum of services and technology practices that include ERP, SCM, CRM, e-Commerce, m-Commerce, SFA, Microsoft, Java and Legacy platforms, BI/DW, testing, platform migration, web technologies and others. The company plans to enter the IT enabled and managed services sector and cloud based services through business acquisitions and/or combination opportunities in the near future to further execute its articulated business strategy.
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