DALLAS and TORONTO, Aug. 7 /CNW/ -- Quadrem International announced its
H1 2007 revenues are up 24% over H1 2006 as demand for the company's
electronic procurement and sourcing solutions continues to increase.
"Our platform is handling nearly 30% more procurement spend than it did a
year ago," said CEO Charles Jackson. "We expect our customers to use the
platform to process digital purchase orders totalling more than $16 Billion
The company added nine new customers in the second quarter including
large accounts that expand its presence in key geographies such as South
Africa, South America and The Middle East.
"We have every reason to be pleased about our financial position," said
Gary Ito, CFO. "Quadrem has delivered a second consecutive Net Income
positive quarter, and EBITDA more than doubled year-over-year for the second
quarter. Both EBITDA and Net Income levels are trending positively, and
Quadrem continues to see broad-based growth across all of our regions around
Quadrem's solutions enable customers to transact electronically with
their large and small suppliers to leverage process efficiencies and remove
errors from purchasing and invoicing processes.
The July 27 Wall Street Journal Asia article, "Digital Deliverance",
chronicles an example of Quadrem's solution connecting small suppliers in
remote areas to the purchasing organizations of global companies. Articles
appeared in Red Herring and Inc. in 2006 about similar initiatives Quadrem is
leading in Africa and South America.
The company has grown revenues 18% to 50% each year since its inception
Quadrem (http://www.quadrem.com) provides e-business solutions that
connect buyers and suppliers to maximise supply chain efficiencies. Quadrem's
global transaction platform, vibrant international trading community and
high-quality MRO data management services enable customers to implement the
most effective e-business initiatives for buyers and suppliers. Established in
2000, Quadrem has locations in Australia, Brazil, Canada, Chile, France,
Korea, Mexico, The Netherlands, Peru, Saudi Arabia, Singapore, South Africa,
the United Arab Emirates and the United States.
For further information:
For further information: Mike Busittil, +1-905-361-4989,
firstname.lastname@example.org, or Katherine Kirkpatrick, +1-972-543-8044,
email@example.com, both of Quadrem International Web Site: