ISELIN, N.J., Sept. 20, 2007 (PRIME NEWSWIRE) -- SoftNet Technology Corp. (OTCBB:STTC) (German WKN:TG6) has projected its 3rd Quarter, 2007 revenue and is pleased to announce, on a preliminary basis, it expects revenues to be near or exceed $2.4 million. The Company further announced this will be the 7th consecutive quarter of increased revenues.
"Senior management has a high comfort level that the Company will achieve the projected $2.4 million revenue for the current quarter. This revenue level exceeds the same period last year by nearly 50%. The hard work of the sales and operating teams are producing spectacular results. Additionally, we remain optimistic for the balance of the year as the sales pipeline in the core businesses remains incredibly strong," said Jim Booth-CEO.
"The Company's strategy to focus and grow organically in 2007 has been very well executed to date. The plan to grow existing accounts continues to generate additional engagement opportunities in the Infrastructure and Telecom space, the latter being a pleasant surprise. The Company added new OEM clients in the data storage business in Q3, a targeted extension to our existing work with Fortune 500 equipment manufacturers. SoftNet also expanded its Professional Services presence into the lucrative Value Added Reseller (VAR) market which was a key strategic initiative for 2007. We continue to aggressively pursue incremental new business across the IT Infrastructure space where the Company possesses the requisite skills and capabilities," said Joe Luminoso-Vice President, Infrastructure.
Please visit our website at www.softnettechnology.com for more information, or for Investor Relations, please contact the company directly at 908-212-1799, or Jim Booth-CEO.
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