Quadrant 4 Systems Corp. (fka QFORQ)

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$QFOR Quadrant 4 System Corporation Announces Second Quarter 2016 Financial Results and Conference Call

Aug 16, 2016 08:30:00 (ET)

Quadrant 4 System Corporation Announces Second Quarter 2016 Financial Results and Conference Call

SCHAUMBURG, Ill., Aug. 16, 2016 (GLOBE NEWSWIRE) -- Quadrant 4 System Corporation (QFOR) ("Quadrant 4" or the "Company") a technology company offering SaaS platforms to the health and education industries, today reports earnings for the fiscal second quarter ending June 30, 2016.

Second Quarter 2016 Highlights

-- Total revenue was $14.6 million, an increase of 11% compared to the
second quarter of 2015

-- Gross Profit was $6 million, an increase of 12% compared to the second
quarter of 2015

-- Gross Margin Percentage was 41%, an increase of 12% compared to the
second quarter of 2015

-- EBITDA was $2.9 million, an increase of 72% compared to the second
quarter of 2015

-- Net Income was $1 million, an increase of 704% compared to the second
quarter of 2015
Dhru Desai, Quadrant 4's Executive Chairman, stated, "Our second quarter results included recognition of $3.1 million revenue that was deferred in the first quarter which significantly contributed to our overall performance. We have been strategically transforming our business towards the SaaS model by allocating more resources in the last two quarters. Our key channel partnership for QHIX will give us an opportunity to deploy the platform in several of the nation's 400+ health plans/payers and healthcare providers across the country covering over 150 million members. Our education unit established significant relationships with a few key Independent School Districts recently which will further validate our software platforms."

Quadrant 4 will be hosting a call with its shareholders and the investment community to discuss the company's financial performance and provide a business update on Thursday, August 18, 2016 at 10 AM EDT. The Company's 10-Q for the period ending June 30, 2016 has been filed with the SEC and is available both on the SEC and the Company's web site, www.qfor.com.

To participate on the conference call, please dial [phone] from the U.S. or [phone] from outside the U.S. and enter conference ID #:1809261. Please dial in 15 minutes early. Those interested in listening to the conference call live via the Internet may do so by visiting the Investor Relations section of Quadrant 4's website at www.qfor.com. Beginning one hour after the call ends, an archive of the webcast will be available for 90 days at www.qfor.com.


Sone,
the conference call should be interesting
I don't see the turd part??