QualityStocks would like to highlight Quadrant4 Systems Corporation (OTCQB: QFORE). The company delivers end-to-end information technology solutions to its clients through a unique blend of consulting, software development & maintenance, cloud based products and technology from its global delivery centers. Quadrant4 currently focuses on Financial Services, Health Care, Retail, Manufacturing and Telecommunication sectors with a broad spectrum of services and technology practices that include ERP, SCM, CRM, e-Commerce, m-Commerce, SFA, Microsoft, Java and Legacy platforms, BI/DW, testing, platform migration, web technologies and others. The company plans to enter the IT enabled and managed services sector and cloud based services through business acquisitions and/or combination opportunities in the near future to further execute its articulated business strategy.
In the company’s news yesterday,
Technology solutions company Quadrant 4 Systems announced that it has engaged a new audit firm, Sassetti LLC, to complete the audit of its financial statements for the year ended December 31, 2011. Quadrant said it does not anticipate that its financial statements will be subject to any material revision and therefore offered guidance for full year 2011.
The company estimates gross revenues will be approximately $30 million compared to gross revenues of $15.2 million for full year 2010. The company attributes the roughly 50-percent revenues increase to its acquisition of subsidiary Quadrant 4 Solutions Inc. and its associated business.
EBITDA for the year will be approximately $4.5 million compared to EBITDA of $1.4 million reported for 2010.
Full year 2011 net loss is forecast at approximately $200,000 for the year ended December 31, 2011, compared to the net loss of $2.2 million reported for the year ended December 31, 2010.
For first quarter ended March 31, 2012, the company anticipates gross revenues of approximately $6.8 million with an EBITDA of approximately $700,000.
Quadrant said it will discuss the delay in completion of the audit in its annual and quarterly reports.
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Forward-Looking Statement:
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