SCHAUMBURG, Ill., March 29, 2016 (GLOBE NEWSWIRE) -- Quadrant 4 System Corporation, a technology company offering SaaS (Software as a Service) platforms to the health and education industries, today reports record earnings for the fiscal year ending December 31, 2015.
Fiscal Year 2015 Highlights
- Revenue increased 7% year over year to $52 Million
- Gross Profit increased 19% year over year to $20.9 Million
- Gross Margin Percentage improved to 40% from 36% year over year
- EBITDA increased 3.3% year over year to $6.7 Million
- QFOR records the 24th straight quarter of positive EBITDA
2015 was a significant year for Quadrant 4 as the company delivered on a number of key objectives. Quadrant 4 Health, the health division, acquired important new customer relationships including HealthSmart, Grady Enterprises and HCare Systems on the back of the successful product launch of their new QHIX Hybrid Exchange. On a single platform, the QHIX Hybrid Platform uniquely combines the functionality to service large groups in addition to serving the exchange needs of a single individual. Meanwhile, Quadrant 4 Education, the division focused on K-12, announced the first two EmpowerED platform pilot programs with school districts located in Texas. These districts were early adopters and the feedback coming from the pilots has been overwhelmingly positive.
Dhru Desai, Quadrant 4’s Executive Chairman, added, “Our team has built a great deal of momentum going into 2016. We are receiving significant validation from the market and positioning the company to take advantage of these opportunities through our industry outreach, concentrated sales efforts and partnership focus. We are supplying the technology that will enable our clients and partners to build dynamic exchanges and create substantial value for all of their stakeholders.”
Quadrant 4 will be hosting a call with its shareholders and the investment community to discuss the company's financial performance and provide a business update on Tuesday, April 5, 2016 at 10 AM EDT. The Company's 10-K has been filed with the SEC and is available both on the SEC and the Company’s web site, www.qfor.com.
To participate on the conference call, please dial (888) 317-6003 from the U.S. or (412) 317-6061 from outside the U.S and enter conference ID #: 6479297. Please dial in 15 minutes early. Beginning one hour after the call ends, an archive of the webcast will be available for 90 days at www.qfor.com.
About Quadrant 4 System Corporation: Quadrant 4 System Corporation (OTC:QFOR) empowers digital transformation in education and healthcare through robust Software-as-a-Service (SaaS) platforms and highly specialized professional services. Please visit http://qfor.com for more information.
Quadrant 4 Health provides benefits administration and private exchange solutions in a way that brings together a typically disjointed collection of stakeholders, vendors, partners and users into a cohesive mosaic. Together, it’s greater efficiency through technology, brought to you by two distinctive products: QHIX, a private exchange that represents the next generation of purchasing and decision-making and support and engagement services, and QHIX Benefits Administration, the solution that converges enrollment, communication and administration into a single product. Explore more at http://quadrant4health.com/.
Quadrant 4 Education delivers a suite of connected cloud-based applications that brings students, families, teachers and administrators together to ensure a student’s learning process is meaningful, flexible and complete. EmpowerED Solutions™ is a central, secure platform that combines and transforms data from multiple databases into highly usable information that supports effective academic assessment and intervention, real-time reporting and decision support. Explore more at http://quadrant4edu.com/.
Forward-Looking Statements
This release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact should be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in such forward-looking statements. We do not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this release is based on information currently available and may not be reliable after this date.