SOURCE: South River Technologies

South River Technologies

May 25, 2017 14:32 ET

South River Technologies Announces Record Revenue and Fourth Consecutive Quarter of Growth in Q1 of 2017

ANNAPOLIS, MD--(Marketwired - May 25, 2017) - South River Technologies, Inc. (SRT), an innovator in secure file transfer, today announced its financial results for the first quarter of 2017. SRT experienced a 247% growth in net income in Q1 of 2017 over Q4 of 2016, while also maintaining four consecutive quarters of growth.

"We are continuing to experience significant growth in our sales of enterprise solutions, particularly in healthcare," says Michael Ryan, CEO of SRT. "Combined with customer retention of more than 97%, we have seen, and will continue to see robust top-line growth."

First Quarter 2017 Financial Highlights

  • Consecutive quarter top-line revenue growth of 21.7% over Q4 of 2016
  • 33% top-line revenue growth over the same quarter in 2016
  • 247% growth in net income/profit in Q1 of 2017 over Q4 of 2016
  • Fourth consecutive quarter of growth

"We were able to significantly reduce some overhead expenses in Q1," states Ryan.

Several new partnerships and expanded service offerings are expected to fuel increased revenue growth in 2017.

About South River Technologies

South River Technologies, or SRT, is an innovator in secure file management software. The company's software allows users to access, manage, and share files over the internet in order to automate and streamline business processes and to improve productivity. SRT pioneered the internet drive mapping technology used in WebDrive, which enhances customers' existing applications. Customers in 145 countries use SRT's software to make remote file access and collaboration more efficient for their customers, partners, and distributed workforce. For more information, please visit http://www.southrivertech.com.

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