ZMBA Estimates 43% Revenue Growth and a Return
to Profitability in Q1 2004; Receives Recognition from
The Gartner Group for Exceptional Service Quality
ZAMBA Solutions (OTCBB:ZMBA) today announced its results for the
fiscal fourth quarter and year-ended December 31, 2003. Annual
revenues before reimbursement of direct costs for 2003 were
$9,096,000, compared to $10,184,000 for 2002. Net income for the year
was $1,743,000, or $0.04 per share, including a $2,603,000 gain on
sales of a portion of our NextNet shares, compared to a net loss of
$6,613,000, or $0.17 per share for 2002, including a $5,199,000 gain
on sales of a portion of our NextNet shares. Revenues for the fourth
quarter before reimbursement of direct costs were $1,505,000 compared
to $2,504,000 for the fourth quarter of 2002. Quarterly net loss was
$859,000, or $0.02 per share for the fourth quarter of 2003, compared
to a net income of $1,803,000 or $0.05 per share for the fourth
quarter of 2002, including a $2,234,000 gain on sale of a portion of
our NextNet shares.
Q1 2004 Guidance
The Company expects revenues before reimbursement of direct costs
for the first quarter of 2004 to be approximately $2,150,000, up 43%
from the fourth quarter of 2003. Net income for the first quarter of
2004 is expected to be $0.02 per share, including a gain on sales of a
portion of our NextNet shares of $0.02 per share.
Gartner Recognition for Exceptional Service Quality
The Company also announced it has recently received recognition
for exceptional delivery and customer service capabilities from The
Gartner Group by having the highest overall satisfaction rating of all
vendors evaluated for the CRM Magic Quadrant. Over 1,000 firms were
evaluated, including such brand names as Accenture and IBM Global
Services.
"While the fourth quarter did not produce the numbers that we
forecasted, we have made a great deal of progress in the first quarter
to get the company back to profitability," said Norm Smith, President
and Chief Executive Officer. "We are also excited about our recent
recognition by Gartner for our exceptional delivery and customer
service capabilities and hope to leverage this in the market-place." |
