ISELIN, N.J., Dec. 18, 2006 (PRIME NEWSWIRE) -- SoftNet Technology Corp. (OTCBB:STTC) (German WKN: A0B7RZ) is pleased to report record sales for the month of November. The Company reported revenue of $740,000 for the month.
"November was a very strong month for SoftNet with sales gains realized most notably in the SMB channel and the Telecom and Data Storage Practices. We anticipate the momentum built beginning in October will carry us through December, traditionally a soft month, and into the New Year. The increase in revenue, and leveraging of SG&A expense, further closed the gap in our drive to achieve profitability. The increase in business is sustainable and, with the completion of the PeriNet Technologies acquisition, we feel the Company is poised for a solid 2007," said Jim Booth, CEO.
"The SMB channel achieved record revenues based on the increased sales realized from a pilot program in the Atlanta region with a national, premiere electronics retailer. The close rate for recurring revenue resulting from these sales continues to grow. Over the next few weeks we will be finalizing plans to expand the SoftNet product and services offerings beyond the pilot market with this partner," reported Steve Henry, Vice President.
The Storage and Telecom practices continued to report gains with the addition of new clients in the Dallas, Philadelphia and NY markets, as well as across the U.S., with the Company's existing national partners, T-Mobile and Network Appliance.
"While we have been optimistic on 2007 we feel it has the potential to be a record-breaking year. The actions we have taken recently to increase sales, including the addition of a strong IT Security practice, and strengthening our internal Data Storage technical expertise, has already added increased revenue this month with a future sales pipeline that continues to grow beyond expectations. Our first goal, however, is profitability and our sales efforts are focused on this all important objective, coupled with internal cost containment efforts," reported Jim Booth, CEO.
Please visit our website at http://www.softnettechnology.com for more information or for Investor Relations, please contact the company directly at 908-212-1799, James Booth-CEO.
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