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Article: QSGI Reports 54% Increase in Gross Profit on 27% Year-over-Year Increase in First Quarter Revenue; 107% Increase in Data Security & Compliance Division Revenue.
- Article from:
- Business Wire
- Article date:
- May 4, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HIGHTSTOWN, N.J. -- QSGI INC. (NYSE Arca: QGI) today reported financial results for the first quarter ended March 31, 2006.
First Quarter 2006 Financial Highlights (year-over-year):
Total revenue increased 26.9% to $9.3 million
--Data Security & Compliance division revenue increased 107.3% to $4.8 million
--Data Center Maintenance division revenue increased 35.1% to $1.0 million
Gross margin expanded 410 basis points to 23.3%
--Data Security & Compliance gross margin more than doubled to 17.3%