Group 1 Reports Record Revenue

Share this content:
CRM software vendor Group 1 Software had record revenue of $23.4 million for its first quarter ended June 30, the company announced late Tuesday. Revenue for last year's first quarter was $20.8 million.


Total revenue for the quarter from enterprise solutions software and services was $16.1 million, up from $14.5 million the prior year. Total revenue for DOC1 Customer Communications Management software and services increased 15 percent to $7.3 million. License revenue rose 35 percent in the enterprise solutions division to $7.1 million and 47 percent in the DOC1 division to $2.8 million.


Non-operating income for the Lanham, MD-based company was $100,000, down from $500,000 last year. The company attributed the drop to lower interest income in the current year and higher interest expense related to the three asset acquisitions made in the prior year.


"The significant increases in license fees were particularly encouraging," Group 1 CEO Bob Bowen said. "We saw strong demand for our enterprise solutions division's data quality solutions. The DOC1 division saw growing sales of DOC1 Archive, the newest component of our end-to-end customer communications management suite. DOC1 Archive offers real-time storage, compression and high-speed retrieval of business documents."


Chief financial officer Mark Funston said that though the company is pleased to see a return to record results, "due to the continuing difficult market conditions, we are taking a conservative view toward the next several quarters ... Our guidance for the balance of the fiscal year remains 10 percent revenue growth over the prior year and EPS growth in the 18 [percent] to 22 percent range."


Loading links....
close

Next Article in Data/Analytics

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here