Qumas posts record results for 2002
Dateline: 27 January 2003
QUMAS (www.qumas.com), the leading provider of Enterprise Compliance Management solutions for the life sciences industry, today announced record financial results for 2002.For the year ended December 31, 2002, the firm’s revenues increased by 25% over 2001 results, with a significant rise in profitability.
In a statement issued to shareholders, employees and business partners, QUMAS Chief Executive Officer, Paul Hands, commented, “We’re delighted with our 2002 performance across each of the various measurement criteria. In terms of sales, we added a record number of new customers, including an impressive increase in the number of Tier 1 clients. Our profitability also rose to new heights during 2002. ”
“A key independent indicator of our performance, and the inherent value our compliance products provide to the industry we serve, came from Frost & Sullivan a global marketing research and solution leader, as they named QUMAS the winner of its 2002 Vertical Market Engineering Award for Vertical Market Penetration. ”
Hands continued, “Their study, ‘World Electronic Document Market for Life Sciences,’ concluded that QUMAS currently holds 24% of the global market, and also predicted that QUMAS solutions will quickly become the document compliance management systems of choice within the life sciences industry. ”