Quorum Announces Q1 FY2017 Results
Revenues increase 11% over Q1 FY2016
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 05/23/17 -- Quorum Information Technologies Inc. (TSX VENTURE: QIS), a leading provider of dealership and customer management software and value-added services to the automotive industry, today released its 2017 first quarter results.
Maury Marks, Quorum''s President and CEO provided the following comments on the Company''s Q1 FY2017 operational and financial results:
Dealership Success Scorecard(1)
(1) The numbers and dollar figures included in the Dealership Success Scorecard are based on dealership results.
Areas of the Dealer Scorecard
Other key financial results highlights for Q1 FY2017 are as follows:
Quorum has seen fourteen consecutive quarters of significant revenue growth (over the prior year quarters) and we continue to increase our staffing levels in anticipation of future growth. Our strategy to focus on product innovations, improving product utilization and superior levels of customer service has increased the market demand for our product and services.
Quorum has filed its Q1 2017 consolidated financial statements and notes thereto as at and for the period ended March 31, 2017 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 and Quorum''s website at .
Financial Highlights
A conference call has been scheduled for Wednesday, May 24, 2017 beginning at 11:00 a.m. MT (13:00 p.m. ET). Anyone wishing to participate in the call is asked to dial-in using the following numbers and ask for the Quorum Information Technologies Inc. First Quarter 2017 Results Conference Call.
About Quorum
Quorum is a North American company focused on developing, marketing, implementing and supporting its automotive dealership and customer management system, XSELLERATOR. Quorum offers the system to franchised, independent and some non-automotive dealerships in Canada and the United States. XSELLERATOR automates, integrates and streamlines every process across departments in a dealership. The system includes tools designed to maximize revenue opportunities for dealerships such as Customer Relationship Management and service inspection and quoting processes. Quorum is a Microsoft partner and XSELLERATOR is developed with modern mobile-enabled technology. Quorum Information Technologies Inc. is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS and in 2016 was selected to the TSX Venture 50®, an annual ranking of the strongest performing companies on the TSX Venture Exchange. For additional information please go to .
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 period ended March 31, 2017. 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.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Quorum Information Technologies Inc.
Maury Marks
403-777-0036
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Datum: 23.05.2017 - 15:05 Uhr
Sprache: Deutsch
News-ID 1505432
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