News - 4th Quarter Earnings
The Source Information Management Company Continues Consecutive Record Quarter Results
ST. LOUIS--(BUSINESS WIRE)--April 8, 1998--The Source Information Management Company (NASDAQ:SORC) today announced its fifth successive record quarter for revenue and net income.
Net income for the fourth quarter ended January 31, 1998, was $622,199, a 65% increase over the previous record 3rd quarter results of $377,256 and a 159% increase over the comparable fourth quarter from the past year.
Revenue for the quarter was $3,392,062, an increase of 15% over the 3rd quarter and a 39% increase over the corresponding quarter from last year.
The Company had net income of $1,589,008 ($.22 per share) for the year ended January 31, 1998, as compared to a loss of $603,317 ($.11 per share) last year.
Revenue grew to $11,803,844, versus $7,298,447 for the previous year, an increase of 62%.
These results reflect the continuing development of various improved service programs the Company provides for its retailer clients. The Company has now completed its consolidation of all acquisitions into its High Point operation and has successfully expanded its Advance Pay and Front-End Management programs.
The Company plans to introduce newly developed technology for its Front-End Management program in May of this year. This technology will enable retailers to see 3-D imaging of checkout configurations that will instantly calculate the potential earnings of each configuration based on historical data.
The Source is a leading provider of periodical information and related marketing services to hundreds of retail chains in the grocery, convenience, mass merchandise, and pharmacy industries. Their integrated software system is designed to efficiently and accurately monitor sales of high volume consumer products primarily to optimize sales incentive payments offered by manufacturers.
CONTACT: The Source Information Management Company
W. Brian Rodgers, 314/995-9040 |
