SCHAUMBURG, Ill., Aug. 26, 2015 (GLOBE NEWSWIRE) -- Quadrant 4 System Corporation (Pink Sheets:QFOR) ("Quadrant 4" or the "Company") will be reporting its financial results for the fiscal first and second Quarters of 2015 as soon as they are available. The Company continues to execute on its stated business plan and reports that its first and second quarter performance is on track based on its expectations.
The revenue (unaudited) for the first quarter ended March 31, 2015 is projected to be approximately $13.6 Million and the EBITDA is expected to be approximately $1.9 Million. We expect Gross Margins for the first quarter to be around 39% and we estimate a net income of approximately $150,000 for the first quarter.
The revenue (unaudited) for the second quarter ended June 30, 2015 is projected to be approximately $13.1 Million and the EBITDA is expected to be approximately $1.7 Million. We expect Gross Margins for the second quarter to be around 41% and we estimate a net income of approximately $200,000 for the second quarter.
In summary, our year to date six month performance (unaudited) is expected to be approximately $26.7 Million with the cumulative EBITDA of approximately $3.6 Million. We expect our Gross Margins to be approximately 40% and estimate a net Income of approximately $350,000.
The Company's vertical cloud platforms are gaining traction and will add significantly to margins, revenue growth and profitability. Management believes that 2015 will be a record year for its top line performance and profitability.
About Quadrant 4 System Corporation
Quadrant 4 System Corporation is a SMAC (Social, Mobile, Analytics and Cloud) technology company offering state-of-the art SaaS (Software as a Service) and PaaS (Platform as a Service) based Exchange Solutions in Healthcare (qHIX), Media (qBLITZ) and Education (qEDU). Quadrant 4's highly scalable vertical cloud platforms coupled with our Global Professional Services organization provide our clients with a competitive advantage in the marketplace. Please visit www.qfor.com for more information.
Forward-Looking Statements
This release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact should be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in such forward-looking statements. We do not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this release is based on information currently available and may not be reliable after this date.