TRADITION SOFTWARE produces record quarterly revenue resulting in profitability one year after SIERRA PHOENIX acquisition
TRADITION SOFTWARE announced that during Q1 of 2006 the company achieved profitability on a GAAP basis, one year ahead of forecast. Revenues increased 28% versus Q4 in 2005, with strong growth driven from new software licenses sold to US based construction contractors and subcontractors.
“We successfully merged into our company the assets we acquired from SIERRA PHOENIX. The team of employees here have worked very hard, often times seven days a week since the acquisition to implement several new initiatives which benefit our loyal, growing US customer base,” said Craig R. Altman, President and Founder of TRADITION SOFTWARE.
The company also produced a successful launch of it new online store, TraditionInk.com. The new storefront has over 600 brand name, compatible and remanufactured inkjet print cartridges for US businesses, non-profits and consumers. In its first six months of accepting orders, TraditionInk.com is already contributing 10% of the gross revenue to Tradition Software’s quarterly revenue.
Many business and technical milestones were accomplished in the previous twelve months, including:
– All annual subscribers to PreLien2Lien have implemented the new improved version of the program produced by TRADITION SOFTWARE
– Integration of new software activation technology into PreLien2Lien
– Enhancements to the upgrade code into PreLien2Lien
– Enhancements to the Graphical User Interface in PreLien2Lien
– New Mechanic’s Lien legal content with pre-screened Construction Attorneys by state on TraditionSoftware.com
– Expansion of the management team, including Michael M. Emmons, Software Development Manager, and Justin K. Hussey, Sales/Customer Service Manager
– Reduction of long term corporate debt by 17%
– Lease signed for new corporate headquarters
About TRADITION SOFTWARE
TRADITION SOFTWARE, INC. was founded in March 2005 by its Founder and President, Craig Altman. In April 2005 the company purchased the software and customer assets of SIERRA PHOENIX. TRADITION SOFTWARE offers software solutions to contractors and subcontractors in the US construction industry for accounting, estimating, certified payroll, communications, contractor billing, contract documents, lien management, and project management.
In September 2005, TraditionInk.com was formed as a new Division, offering businesses and consumers name brand and compatible replacement ink supplies at 10% – 60% less than traditional office supply retailers.
TRADITION SOFTWARE’s headquarters is in Citrus Heights, CA, just north of the state capital in Sacramento. The mission of the company is to provide construction companies and small businesses with productive software, quality ink supplies, knowledgeable technical support and services that produce results. Every time you work with us, you will immediately appreciate that we are nice people that you can trust your business to work with.