Canadian market growth accelerates with key long-term client
TORONTO, April 17, 2019 /CNW/ - Nerds on Site Inc. (the "Company") (CSE: NERD) (FSE: 3NS.F) (QTCQB: NOSUF), a mobile IT solutions company servicing the SME marketplace, is pleased to report that the Company has generated unprecedented growth with long-term strategic client Canadian Tire.
"As reported last month, our Canadian Tire team has been actively ramping up efforts to grow NerdCare managed service coverage to build upon the 226 Canadian Tire stores being served, with the goal of serving 290 of 493 stores by the end of 2019," said Mr. Charles Regan, Nerds on Site CEO. "As a result, we have seen our busiest growth period ever with our Canadian Tire stores."
- Canadian Tire client revenue up 22% 2019 over 2018
- Support plans, recurring revenue, up 20% year over year
- Migrated 4 stores from competitors, further consolidating Canadian Tire leadership position
- Averaging 3-4 gateway installs per month, 50% increase over 2018
"These growth indicators are historical highs with Canadian Tire stores. In a period of less than two months we have not seen this rate of migration or growth and it is a credit to our team's focus and effort," added Mr. Regan.
Besides the high standard of service, and high satisfaction of the existing Canadian Tire dealer clients, the "TimeWellScheduled" time management tool, continues to be a winning component of the NERDS offering, opening doors with new Canadian Tire Dealers.
About Nerds On Site:
Nerds on Site, a company founded in 1995, specializes in providing cost effective, leading edge solutions to Small and Medium sized Enterprise (SME), serving as the complete SME IT solution specialists. Nerds on Site was established in London, Ontario with current annual revenues of approximately $10,000,000. The company services over 12,000 clients per year with a superb 96.5% customer satisfaction rating. NOS's business model is based on Nerds sub contracts in Canada and a Franchise model for USA expansion.
Forward Looking Statements - Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE Nerds On Site Inc.
For further information: Mr. Charles Regan, CEO of Nerds on Site, Please visit www.investors.nerdsonsite.com, Call 1-877-778-2335, or email IR@nerdsonsite.com.