Chartwell celebrates 9th profitable quarter 

7 March 2005

Chartwell Technology has announced a revenue growth over just under 120 per cent at the end of the first financial quarter which ended January 31.

The company recorded a revenue of $4,815K compared with $2,198K during the same period in fiscal 2004 and a net income of $1,486K compared with $386K last year. This is the company’s ninth consecutive quarter of profitability.

The Chief Financial Officer, Don Gleason, said, “Consistent with our objective of delivering continued growth and profitability, I am pleased to report our ninth consecutive profitable quarter. I am encouraged by the overall growth of the industry in general and our installed customer base but even more excited that new customer business contributed 18% of our total sales revenue. Through the balance of the year we will continue to focus on expanding our customer base in key markets and driving new business while continuing to strategically invest in our overall growth.”