SOURCE: Mitchell International

Mitchell International

February 25, 2009 06:57 ET

Mitchell International Achieves Record Revenues in 2008

Company's Strong Performance Achieves Record Revenues and Customer Wins and Sets New Performance Benchmarks

SAN DIEGO, CA--(Marketwire - February 25, 2009) - Mitchell International Inc., a leading provider of information, workflow and performance management solutions to the property and casualty claims and collision repair industries, today announced record business performance results for 2008. Mitchell grew revenue by over 15% on a year-over-year basis and is on pace to achieve similar growth in 2009 -- with sales expected to exceed a quarter of a billion dollars ($250 million). Moreover, Mitchell made substantial gains in new customer additions who chose Mitchell's industry-leading solutions to boost operational efficiency, enhance customer service, and improve productivity. As an example, in 2008 alone Mitchell added over 2,500 new collision repair shops to its network.

"We are proud of our strong performance in 2008 -- especially given the challenges presented by the economy," said Alex Sun, President and CEO, Mitchell International. "The fact that Mitchell achieved balanced growth across its key business lines was especially encouraging." Mitchell's physical damage business benefitted from a number of product lines -- WorkCenter™ Total Loss, WorkCenter Dispatch and ABS™ Enterprise each more than doubled revenue year over year, and AutocheX grew by 20%. On the Casualty side, Mitchell continued its history of success of high double-digit growth with adoption of its 3rd party (ClaimIQ™) and payment solutions. Sun added, "As our business results demonstrate, Mitchell was, and is, firing on all cylinders -- with even more powerful momentum and results expected in 2009."

In 2008 Mitchell also maintained an ambitious pace of investment in product development to fulfill its vision of elevating the level of collaboration between insurance carriers and collision repairers and introducing innovations for claims automation and performance. "Thanks to the tireless efforts of our over 1,300 dedicated colleagues and the continued support of our customer base, Mitchell is stronger than it has ever been," said Sun.

About Mitchell International, Inc.

Mitchell International (www.mitchell.com) is a leading provider of information, workflow, workers' compensation, medical bill review, and performance management solutions to the automotive insurance claims industry, serving carriers, collision repair facilities, and other commercial participants in the physical damage and auto-related medical claims markets. Mitchell facilitates millions of electronic transactions between more than 25,000 business partners each month to enhance their productivity, profitability, and customer satisfaction levels.

Contact Information

  • Contacts:
    Jennifer Forman
    Sr. Director, Marketing
    800-854-7030
    Email Contact

    or

    Constantine Theodoropulos
    Boston Communications
    617-292-7319
    Email Contact