The Greenwood Village, Colorado-based firm also announced a 30% increase in net income to $6.0m, though the company did not reveal how much of its income was as a result of the accretive nature of its acquisitions.
During the quarter, it bought Pennsylvania-based FullTilt Solutions Inc for an undisclosed sum. FullTilt provides a range of consulting and systems integration services. On March 1, it closed its largest acquisition to date when it paid $55.9m for federal sector IT services firm SCB Computer Technology Inc.
The purchases and repayment of $27m of the debt assumed through the acquisition of SCB meant cash and cash equivalents dropped to $38.5m from $132.5m three months ago.
Looking ahead, the company’s president and CEO, Mac Slingerlend, said the June quarter could deliver its highest ever revenue figure, expected to be between $200m and $208m. We may be seeing the beginning of more robust times in the domestic IT services sector in the second half of 2004 and 2005, he said.
This article is based on material originally published by ComputerWire
