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.