4Front posts improved Q2 profits
Growth prospects are "strong"
4Front Technologies has posted its results for the quarter ending July 31, showing a 46 per cent increase in revenue on the same period last year. Net income in Q2 was $1.235 million on total revenue of $27.42 million. In the comparable period last year, net income was $677,000 on revenue of $18.8 million. Anil Doshi, chairman and CEO of the storage distributor to help desk firm, commented: "The second quarter saw strong market demand and further successful implementation of our growth strategy resulting in another record revenue and profit quarter." He said the company's growth prospects were strong, pointing out that revenues for the first six months of this fiscal year exceed total revenue for the 1997 fiscal year. Revenue for the first six months was $54.1 million, up 45 per cent on the same period last year. Net income shot up 78 per cent to $2.5 million. To build on the success of the last year in the UK, the company is now looking to expand operations in the rest of Europe. "We now have annual revenue of over $20 million in France," Mark Ellis, VP and chairman of 4Front said.®