My spin: 130,000 customers is nothing to sneeze at
(19 Feb 2003) New Management Team Marks the End of 2002 with Return to Profitability and the Release of New Business Relationship Applications and Services
FrontRange Solutions Inc., a global market leader in relationship solutions, announced strong financial results for the six-month period
ending December 2002.
Total revenue for the period was $38.5 million. While this represented a one percent decline for the comparable period last year,
the company continued to outperform its peer group in the global markets. These results mark a return to operating profits for the
company in the midst of a very difficult economic climate.
Under the direction of a new executive team, FrontRange grew its customer base to more than 130,000 companies worldwide in 2002.
The positive financial announcement coupled with the release of the company’s new vertically-focused GoldMine(R) CustomerIQ(TM) platform and new versions of the company’s award-winning customer-centric HEAT(R) and GoldMine(R) products, position FrontRange to make a significant impact in the remainder of the fiscal year.
“FrontRange has delivered on its goals for the past year. All of this has been achieved by managing costs, while maintaining a strong
investment in research and development and by delivering a compelling set of products that balances complexity, functionality and cost,” said Patrick Bultema, president and CEO of FrontRange Solutions.
The company released significant new products in the last six months, including HEAT(R) Service & Support(TM) 7.0, GoldMine(R)
Business Contact Manager 6.0, GoldMine CustomerIQ for Wealth Management, GoldMine CustomerIQ for Discrete Manufacturing and HEAT(R) Plus Knowledge. Bultema said the new products represent significant advances, while the launch of GoldMine customerIQ was a forerunner, designed and developed from the ground up for Microsoft(R).NET(TM) framework. Looking to the second half of the financial year, Bultema said FrontRange should continue to be profitable for the remainder of 2003.
For the calendar year 2003, FrontRange anticipates that it will continue to gain market share in its core businesses by focusing on
strategic initiatives begun in 2002. These strategies include a continued focus on technology, functionality and a continued
strengthening of its solution partner channel.
“We believe we are well positioned to take advantage of a marketplace that is beginning to show renewed demand for relationship
solutions. The frustration businesses have expressed with generic CRM implementation and performance over the past year has made it clear that ‘CRM-as usual’ is no longer an option,” said Bultema. “That is why FrontRange is committed to providing highest value, industry specific, integrated relationship solutions.
“Our products are designed to provide the lowest total cost of ownership, to work the way businesses work, and to integrate with the
other applications that businesses use. This enables our customers to efficiently manage all of their essential business relationships —
not just their customer relationships.”
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