PC Docs Reports Twenty Percent Revenue Growth
PC Docs (Burlington, MA) reports Q2 '98 financial results. Revenue of $29.9 million represents a 20% increase from Q2 '97. A net income of $977,000 compares with a net income of $2.1 million in Q2 '97. Revenues for PC Docs' enterprise document management business were up 32% from Q2 '97, and up 27% from Q1 '98. Software support, services and other sales accounted for 37% of overall revenues for the quarter. Software sales are up 28% from Q2 '97. "We are particularly happy with the growth in software sales momentum," said chairman and CEO Ruben Osten. During the quarter PC Docs unveiled Version 2.0 of its CyberDocs Web-based document management system, and was awarded a Crossroads 98 A-list award for being a leading knowledge management solutions provider. PC Docs also signed an agreement with Arthur Andersen (New York) to provide document imaging services. Just before Christmas, PC Docs also announced its intent to acquire Fulcrum (Ottawa, Ontario). A letter to Fulcrum shareholders outlining terms of the proposed deal was sent out this past week.