Quorum Information Technologies Inc.

Quorum Information Technologies Inc.

June 09, 2008 10:53 ET

Quorum Announces Revenue Milestone

Total Monthly Support Revenue Reaches $1.25 million for the Second Quarter

CALGARY, ALBERTA--(Marketwire - June 9, 2008) - Quorum Information Technologies Inc. (Quorum) (TSX VENTURE:QIS) announced today that it has reached a significant milestone in its core revenue stream, monthly support. Quorum has five key revenue streams; net new sales, migrations, integration services, dealer services and support. Recurring support revenues are a significant key to the valuation, profitability and cash flow of the company. For the second quarter of FY2008, Quorum will report support revenues of $1.25 million, an increase of 25% over the $1.0 million reported in Q2 FY2007.

Support revenues primarily increase through sales to new dealership customers and sales to existing customers of XSELLERATOR™ software licenses (each license has a related support charge).

"We anticipate solid growth in our support revenue numbers for 2008 because we have already sold 32 dealership rooftops for installation in 2008. Additionally, we have installed a new licensing application to more proactively manage and assist our dealerships to ensure their XSELLERATOR and Microsoft licenses are compliant," commented Maury Marks, Quorum's President and CEO.

About Quorum

Headquartered in Calgary, Alberta, Quorum's focus is on developing, marketing, implementing and supporting its DMS products for the automotive vertical. Quorum's suite of dealership and customer management software products automate, integrate and streamline every process across departments in a dealership. One of the select North American suppliers of General Motors' IDMS, Quorum is the third largest DMS provider for GM's Canadian dealerships with over 20% of the market. Quorum is a Microsoft Gold Certified Partner and Field-Level Managed ISV in both Canada and the United States. Quorum Information Technologies is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS. For additional information, please go to www.QuorumDMS.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information