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Information technology services

i-Cube Reports Significant Growth in Third Quarter

Strategic Insights

— 2 min read

i-Cube, a leading IT business consultancy, has announced financial results for its third quarter ended September 30, 1998. The company has experienced significant growth in revenue and net income, with a 53% increase in revenue for the quarter to $10,821,000, compared to $7,093,000 for the same period in 1997. Net income for the quarter increased 76% to $1,968,000 or $0.10 per share, compared to $1,119,000 or $0.07 per share for the comparable period in 1997. The company attributes this growth to its strong base of existing clients and the expansion of its service offerings, including the launch of its newest service, Program Management Office (PMO), which has received positive feedback from clients and industry analysts.

Key Takeaways:

  • i-Cube's revenue for the third quarter of 1998 increased by 53% to $10,821,000, compared to $7,093,000 in 1997.
  • Net income for the quarter increased by 76% to $1,968,000 or $0.10 per share, compared to $1,119,000 or $0.07 per share in 1997.
  • Approximately half of the revenue for the third quarter was associated with new clients, indicating a significant expansion of the company's client base.
  • The launch of i-Cube's Program Management Office (PMO) service has been well-received by clients and industry analysts.
  • i-Cube's service offerings have been expanded to meet growing demand from clients for innovative solutions.
  • The company's commitment to developing and delivering cutting-edge IT consulting and systems integration services has been a key factor in its success.

Statistics:

  • 53% increase in revenue for the third quarter of 1998, compared to 1997 ($10,821,000 vs $7,093,000)
  • 76% increase in net income for the third quarter of 1998, compared to 1997 ($1,968,000 or $0.10 per share vs $1,119,000 or $0.07 per share)
  • Approximately half of the revenue for the third quarter was associated with new clients
  • $1,968,000 in net income for the third quarter of 1998
  • $0.10 per share in net income for the third quarter of 1998
  • 53% increase in revenue for the first nine months of 1998, compared to 1997 ($29,550,000 vs $19,324,000)
  • 58% increase in net income for the first nine months of 1998, compared to 1997 ($4,921,000 or $0.27 per share vs $3,119,000 or $0.21 per share)

Sources:

  • i-Cube (International Integration Incorporated) (NASDAQ:ICUB)
  • Business Wire, October 20, 1998
  • i-Cube's quarterly report on form 10Q for the quarter ended June 30, 1998.

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