Third Quarter Revenue to Rise 20-23% Year Over Year
Nine Month Revenue to Increase Approximately 20% Year-Over-Year
Zanett, Inc. (NasdaqCM: ZANE), a leading consulting firm specializing in
business process outsourcing (BPO), IT enabled services (ITES), and
information technology (IT) serving Fortune 500 corporations and
mid-market companies, today issued third quarter revenue guidance in a
range that is 20-23% above the same period in 2007. For the nine months
ending September 30, 2008, the Company expects revenue to grow
approximately 20% above the revenue posted in the same period of 2007.
Claudio Guazzoni, Chief Executive Officer of Zanett, said, “Zanett
is obviously pleased with this guidance based on the solid results we
have seen thus far in the quarter and the year. Coming off a record year
for us in 2007, and to surpass that record by the amount we appear to be
headed for is a nice performance – especially
when you take account of the economic conditions we are performing in.”
Dennis Harkins, Chief Financial Officer of Zanett, said, “We
continue to add significant new contracts, and our sales team has
developed a strong, growing and deepening sales pipeline. Overall, we
have a good client mix in the healthier sectors of the economy. Our
relationship with Oracle continues to provide us with opportunities for
further growth, and as Oracle continues its expansion and acquisitions,
we anticipate continued success.
Harkins concluded, “We are particularly
pleased with the development of our PeopleSoft practice. When we
reported some of our June contracts, we noted that two of the largest,
worth a combined $2.4 million, were PeopleSoft implementations. This
segment of our business promises healthy results for the balance of the
year. In addition, our third quarter results will be buoyed by the full
utilization of our JD Edwards resources. This will enhance our top and
bottom lines in the quarter.”
About Zanett, Inc.
Zanett is a leading business process outsourcing (BPO), IT enabled
services (ITES), and information technology (IT) consulting firm serving
Fortune 500 corporations, mid-market companies, and highly classified
federal agencies involved in Homeland Defense and Homeland Security. The
company has historically operated in two segments, Government Solutions
and Commercial Solutions.
