FrontRange Solutions has reported a sequential increase in third-quarter revenue, the first time the company has grown revenue between the second quarter and the seasonally weak third quarter.
Third-quarter revenue of $18.7 million represented an increase over both the second quarter as well as the third quarter of the previous year. Operating income of $1.8 million was 18.6% higher than the preceding quarter.
US-based FrontRange Solutions, a provider of service management and customer relationship management solutions, is 100% owned by JSE-listed FrontRange.
FrontRange Solutions CEO Michael McCloskey attributes the growth to increased customer adoption of the company`s solutions.
The company added thousands of small business customers in the third quarter, as well as more than 450 new mid-market customers.
Although the March quarter is traditionally seen as a weak seasonal period, the company achieved the growth while achieving its profitability objectives, he says.
The company has also announced the release of two new products - an infrastructure management product and an Internet protocol-based contact centre solution.
McCloskey says the new products represent a significant expansion of FrontRange Solutions` market opportunity.
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