SmartSales has reported record 2Q revenue of $865,000 for the quarter ending 30 June, 2001. Revenue increased 861% year over year – an increase of 50% per cent over 1Q revenue. The net loss for 2Q was $234,000 compared with $475,000 for 2Q, 2000.
Revenue for the six months was $1.44 million ($111,000); the net loss was $604,000 ($640,000).
"Performance in the first half of 2001 reflects strong engagements across all business sectors", said Don Parker, SmartSales president and CEO. "These results represent the fifth consecutive quarterly increase in revenue for SmartSales. The company continues to generate revenue from new licenses during a time when many companies in our industry are experiencing difficulty due to the overall decline in IT spending."
"Going forward, our pipeline is very solid and we expect our revenue growth to continue throughout the rest of 2001. We are now in the process of launching several large-scale pilot projects in the US. We also expect further penetration into the US market as we continue investing in additional sales offices as well as in our reseller channel.