Group 1 Software Reports Record Revenues for YearGroup 1 Software, Lanham, MD, recently reported record revenues of $61 million for the year ended March 31, compared with $54.5 million for the previous year.
Net earnings for the year were $1.4 million, or $0.33 per share, compared with a net loss of $1.6 million, or $0.38 per share, for the previous year.
The provider of software for mailing, database marketing and electronic document systems also reported a record revenue of $17.9 million for the fourth quarter ended March 31, compared with $16.1 million last year. Net earnings for the quarter were $1.2 million, or $0.28 per share, compared with a net loss of $2.2 million, or $0.52 per share, last year.
According to Group 1, the company's revenue growth primarily was derived from increases in sales of its DOC 1 electronic document system software and database marketing products. The increase in net earnings for the year came from the increased revenues partially offset by increases in operating expenses.