The Greenwood Village, Colorado-based company said sales for the three months to the end of December 2004 reached $235.2m, with net income of $7.5m compared to $4.2m a year ago. For the full year, the company made sales of $843m, up 22% from 2003, and a net profit of $29.7m, up from $20m.
President and CEO Mac Slingerlend hailed the annual results as momentous, though admitted that many of its accomplishments had come from mergers and acquisitions, such as UK-based systems integrator Ascent Technology and German SAP integrator Novasoft.
For the year ahead, the company expects to increase revenue by at least 15% to between $970m and $990m. The company also said it spent approximately $1m on compliance with Sarbanes Oxley legislation, an amount it said was less than other public companies, and said it expects to spend about $500,000 a year on compliance going forward.
