SOURCE: Zolon Corporation

May 19, 2011 15:36 ET

Quadrant 4 Systems Corporation Announces 2010 Year-End Results

ROLLING MEADOWS, IL--(Marketwire - May 19, 2011) - Quadrant 4 Systems Corporation (Quadrant) (OTCBB: ZLON) -- formerly known as Zolon Corporation today announced its financial and operational results for 12 months ended 2010.

Financial and Operational Highlights:

  • Revenues increased to $15,233,596 for 12 months ended December 31, 2010, compared to $168,863 for the prior year end
    • The increase in revenue was due to the Company's acquisition of three entities during the year ended December 31, 2010
  • In May 2010, the Company acquired 100% of the outstanding shares of VSG Acquisition, Inc. (VSG), RMI Acquisition, Inc. (RMI) and from StoneGate Holdings, Inc. and in July 2010, acquired the assets of Integrated Software Solutions, Inc.
  • In June 2010, the Company changed its primary business model by broadening its computer consulting services and selling solutions that are bundled with technology

Dhru Desai, Chairman of the Board for Quadrant 4, stated, "We are pleased to report $1.44 million in EBITA for the 2010 year-end with revenues of $15.2 million. We began pursuing Software Technology and services enabled businesses and focus on Healthcare, Telecom and Financial service markets under new management last year and the Company is continuing to gain momentum."

"We have now acquired a significant client base in our targeted segments and will continue to grow our solutions portfolio and skill sets in emerging technologies including Cloud Computing and Business Intelligence. We have integrated over 500 employees skilled in a broad range of technologies to our worldwide delivery organization," said Dr. Nandu Thondavadi, CEO of Quadrant 4 Systems.

To view the Company's current Form 10-K, please visit www.sec.gov or click on the following link:
http://sec.gov/Archives/edgar/data/878802/000118518511000757/zoloncorp10k123110.htm

About Quadrant 4 Systems Corporation
Quadrant 4 Systems Corporation delivers end-to-end information technology solutions to its clients through a unique blend of consulting, software development & maintenance, cloud based products and technology from its global delivery centers. The company currently focuses on Financial Services, Health Care, Retail, Manufacturing and Telecommunication sectors with a broad spectrum of services and technology practices that include ERP, SCM, CRM, e-Commerce, m-Commerce, SFA, Microsoft, Java and Legacy platforms, BI/DW, testing, platform migration, web technologies and others. The company plans to enter the IT enabled and managed services sector and cloud based services through business acquisitions and/or combination opportunities in the near future to further execute its articulated business strategy.

Forward-Looking Statements
This release contains forward-looking statements which are subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipate," "expects," "estimates," and similar expressions) should be considered to be forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as each is amended, for which the Private Securities Litigation Reform Act of 1995 provides a safe harbor. Certain factors (including but not limited to those risk factors identified from time to time in our filings with the Securities and Exchange Commission as well as changes in economic conditions; outcome of negotiations; changes in the Company's access to necessary capital; outcome of litigation; volatility of capital markets; variability and timing of business opportunities; changes in accounting policies and practices; the effects of internal organizational changes; adverse state and federal regulation and legislation; and the occurrence of extraordinary or catastrophic events and terrorist acts; or other unforeseen changes in circumstances) could cause actual results and conditions to differ materially from those projected in such forward-looking statements. We do not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this release is based on information currently available and may not be reliable after this date.

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