CALGARY, ALBERTA–(Marketwire – Dec. 14, 2009) – Quorum Information Technologies Inc. (Quorum) (TSX VENTURE:QIS) announced today that it has attained a record level of sales activity. The Company reports that it has sold fifteen (15) new dealership systems in the past ten (10) weeks. Of these new sales, eight (8) were in the U.S. while seven (7) were in Canada. Ten (10) are General Motors franchised dealerships.
“We have seen a remarkable increase in sales activity since the start of the fourth quarter,” commented Mark Allen, Quorum's VP of Sales, Marketing and Services. “Quorum has been able to achieve this high level of sales performance through a number of key factors. We have seen some resurgence in our sales pipeline as a result of the release of pent-up demand that built up during the recent automotive industry downturn. But, more importantly, we have been able to capitalize on the demand with the right mix of value and price, including some great dealer savings programs. Additionally, our base of loyal customers has supported our growth by providing strong references for new prospects; and Quorum's five (5) consecutive profitable quarters, despite the economy, has proven our long-term viability. Finally, with GM now working on its future, the IDMS program has gained momentum again, including the initiation of new integration points. Everything has come together at the right time,” he concluded.
Scott Maroni, Quorum's Services Delivery Manager added, “During the automotive industry downturn, we put plans in place to increase our throughput and improve an already industry-leading implementation process. The Services Team will use these process improvements to deploy the newly-sold systems within the first half of 2010.”
“Even after closing these new sales, our qualified leads pipeline continues to grow. We have over 30% more leads in the pipeline now than we had just a few months ago,” said Allen.
Quorum is a North American company focused on developing, marketing, implementing and supporting its XSellerator™ product for the automotive vertical. XSellerator is a dealership and customer management software product which automates, integrates and streamlines every process across departments in a dealership. One of the select North American suppliers of General Motors' IDMS, Quorum is the third largest DMS provider for GM's Canadian dealerships with over 20% of the market. Quorum is a Microsoft Gold Certified Partner and Field-Level Managed ISV in both Canada and the United States. Quorum Information Technologies is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS. For additional information please go to www.QuorumDMS.com.
Forward Looking Information
This press release contains certain forward-looking statements and forward-looking information (“forward-looking information“) within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “expect”, “may”, “will”, “project”, “should” or similar words suggesting future outcomes. In particular, this press release includes forward-looking information relating to results of operations, plans and objectives, access to capital, liquidity and trading volumes, projected costs, business strategy, Quorum believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.
Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties some of which are described herein. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Quorum's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking information. These risks and uncertainties include but are not limited to the risks identified in Quorum's' Management's Discussion and Analysis for the year ended December 31, 2008. Any forward-looking information is made as of the date hereof and, except as required by law, Quorum assumes no obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.
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