Inforte Corp., (Nasdaq: INFT - news) a leading eBusiness integration provider, announced strong revenue and earnings growth for the March 31, 2000 quarter. Revenue for the March 2000 quarter was $12.3 million, up 153% from $4.9 million in the March 1999 quarter. Operating income grew 182% as the operating margin expanded to 12.0% in the March 2000 quarter, from 10.7% in the March 1999 quarter. Earnings per share was $0.08 per diluted share, up 167% compared to $0.03 per pro forma diluted share in the March 1999 quarter.
``The revenue growth was driven by existing customers continuing to transform their businesses to eBusiness and also by new clients developing eBusiness strategies and solutions', said Phil Bligh, CEO, chairman and president of Inforte. ``I remain pleased with the high quality of our projects and our people. We continue to focus only on advanced solutions and we remain selective in our hiring practices. This focus ensures better solutions for our clients and provides a stimulating environment for our employees who are shaping the future of the new economy.'
Inforte continued to expand its talent pool by adding 69 net employees during the first quarter of 2000, 54 of which are billable consultants. As of March 31, 2000, employees totaled 326, of which 250 were billable. Inforte expanded its board of directors, effective on the date of its Initial Public Offering, February 17, 2000, by adding leaders in their respective fields of finance, technology, strategy and marketing. The new board members are Edgar D. Jannotta, an influential financial leader who has served as chairman of the Securities Industry Association and as director of the New York Stock Exchange; Ray C. Kurzweil, a technology pioneer and futurist, and recent recipient of the National Medal of Technology; Michael E. Porter, the leading authority on competitive strategy and author of many books and articles including Competitive Strategy and Competitive Advantage; and Al Ries, an accomplished marketing and branding strategist and author of the popular books Positioning and Focus. Inforte also expanded its management team to include Nick Heyes, formerly of Andersen Consulting, as vice president of consulting.
Other highlights during the March 2000 quarter:
-- Inforte partnered with Vignette to enhance online customer experiences,
from log-on to fulfillment. Working with Inforte and Vignette, R.R.
Donnelley & Sons developed ePublish, a platform that enables magazine
companies to provide compelling content and online experiences.
-- Inforte implemented a business-to-business corporate exchange for
Cummins Engine, integrating Concur eWorkplace software with Cummins
Engine's existing Oracle financial systems. The solution was launched
to more than 2,500 Cummins employees and automates procurement and
expense management processes via the Internet.
-- Toshiba America Information Systems, Inc. selected Inforte to develop
and integrate its eBusiness customer-relationship management (eCRM)
initiative. One of the most comprehensive and integrated applications
in the industry, this initiative is designed to enhance overall
customer satisfaction and seamlessly integrate customers, employees,
suppliers and partners in an end-to-end eBusiness solution.
-- Inforte maintained excellent profitability and cash flow in the March
2000 quarter with a 56.0% gross margin, a 12.0% operating margin, days
sales outstanding of 16, and $1.2 million in cash flow from operations.
About Inforte Corporation
Inforte Corp. is a leading eBusiness integrator that focuses on velocity -- delivering better, faster eBusiness strategies and solutions to clients that empower them to compete successfully in the Internet economy. Inforte offers the unique combination of eStrategy, business-to-consumer and business-to-business eCommerce, supply-chain integration, and premier customer experience design and management capabilities required to build end-to-end eBusiness solutions that are integrated across clients' value chains. Inforte's client-advocacy approach and delivery methodology, ``Velocity to Value', has enabled the company to achieve 100 % client referenceability and industry-leading project efficiency metrics. Founded in 1993, Inforte has offices in Chicago, Dallas, Los Angeles and San Francisco, and 100% of its employees are owners. For more information, contact Inforte at 800-340-0200 or visit their web sites -- www.inforte.com and www.eStrategy.com .
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