XFormity Technologies Inc., provider of technology services to multi-unit restaurant organizations, reported its financial results for its fiscal year ending June 30. Revenues and profits continued to grow at a record pace.
The company reported revenues for the year of $1,978,231, a 36 percent increase over the year ending June 2008 revenue of $1,457,884.
“We are very pleased with the direction of the company and with our continued revenue growth,” says Chris Ball, XFormity’s CEO. There was also a significant improvement in net profit, with the annual net profit of $786,508, a 162 percent increase over the year ending 2008’s net loss of $1,268,984.
“In addition to demand for our core reporting services we are seeing increased interest in our Balanced Scorecard and Financial Benchmarking solutions,” says Ken Johnson XFormity’s vice president of sales and marketing. “Over the past six months we have seen increased interest from both franchisees and franchisors across many different brands. We also continue to receive an overwhelming response and very positive feedback on our recently released Cash Management solution. We now have this solution deployed to over 1,200 restaurants.”
“As we move forward into the second half of 2009 we continue to see significant demand for our solutions,” Ball says. “Our pipeline continues to stay strong and expect to announce several new large contracts during the next few months. We continue to receive inquiries from numerous food-service organizations that are looking to develop increased visibility into their restaurant operations. We now have our Business Intelligence and Balanced Scorecard solutions deployed in nearly 11,000 restaurant locations. We look forward to surpassing the 11,000th restaurant deployment."