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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (7584)	4/14/1998 11:46:00 AM
From: Jeff Jordan	Read Replies (1) \| Respond to of 120523

Jenna, looks like price was down now moving up... Whittman-Hart Kicks Off Year with Record Q1 Results PR Newswire, Tuesday, April 14, 1998 at 06:17 Strong Revenue Growth Drives Performance CHICAGO, April 14 /PRNewswire/ -- Whittman-Hart, Inc. (NASDAQ:WHIT), a leading provider of information technology services to middle-market companies, today announced record revenues and net income for the first quarter ended March 31, 1998. First quarter revenues increased 68% to $58.7 million from $34.9 million. Net income, before costs associated with the acquisition of QCC, Inc., rose 45% to $3.7 million or 15 cents per share compared to $2.5 million or 11 cents per share over the same period last year. Costs associated with the acquisition include business combination costs and tax effects resulting from QCC's change in tax structure to a C corporation from an S corporation. Net income, after taking into account these charges, was $3.0 million or 12 cents per share. All earnings per share figures were calculated on a diluted basis. Performance Highlights "Increased demand from our middle-market client base resulted in strong growth in all business segments this quarter," Chairman of The Board and Chief Executive Officer Robert Bernard said. "We achieved profitability as we maintained investments in geographic expansion, product development, employee education, and strengthened our branch management team. Our network grew to 16 branches with a greenfield expansion in Minneapolis and the acquisition of Boston-based QCC, Inc., while our employee population surpassed 2,000. "The 1997 start-up branches, including Cleveland, Grand Rapids and Atlanta, showed growth in revenue and profitability in the first quarter. The integration of Axis International and World Consulting progressed well. We added four new practices to the San Francisco branch, and the implementation of the client-focused business model in San Francisco and London has been completed," said Bernard. Outlook "We anticipate continued demand for all of our services, especially enterprise-wide solutions and those related to web-enabled technologies, among middle-market companies throughout the year," Bernard added. "We expect to continue our geographic expansion through greenfield development and acquisition. Using our integration methodology, we expect a smooth transition of QCC into our full-service Boston branch. "Our strategic efforts to leverage the company's intellectual capital and strengthen our business development models continue moving forward in accord with Focus 2002, our five-year business plan. We believe that success in these areas plus our more than 14 years of experience serving the middle market, should enable us to continue providing the type and scope of solutions demanded by our clients," Bernard concluded. Headquartered in Chicago, Whittman-Hart helps clients improve productivity and marketplace performance through the strategic use of information technology. The company has more than 2,000 employees in 16 branch offices throughout the United States and in the United Kingdom. Its 1997 revenues were $173.5 million. Its web site is www.whittman-hart.com.