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TITAN Technology Partners Reports Record Sales and Earnings for 2005
CHARLOTTE, NC - (January 18, 2006) TITAN Technology Partners, a leading provider of ERP hosted/managed industry solutions, today announced it achieved record 2005 performance by doubling revenue over 2004 and increasing earnings by over 300%. TITAN reported it had secured new managed services commitments with mid-market firms across all practice areas and regions in 2005. TITAN also completed the acquisition of Oasis Software mid year and became one of a select few certified SAP hosting partners in North America.
We exceeded our financial objectives in 2005 as profit margins improved due to TITANs ability to achieve economies of scale from significant revenue growth. The revenue growth was primarily organic, but was supplemented by the acquisition of Oasis Software in June. Oasis has been successfully integrated into TITAN and we continue to look for acquisition opportunities, stated TITAN Technology Partners' CFO Thomas Miklich.
2006 will see a continuation of significant revenue growth as TITAN continues to lead the market for industry-specific hosted and managed solutions, stated David Pendergast, Sr. VP Sales and Marketing of TITAN Technology Partners. We feel confident in our strong offerings, our talent, and the results our customers are seeing from our efforts to transform IT to meet their strategic objectives.
2005 was a year of tremendous achievement. We continue our transformation to become the leading provider of outsourced industry solutions in North America for middle market companies and long term contractual commitments now account for over 50% of our revenue and continue to grow, stated Michael Vadini, CEO of TITAN Technology Partners. We will continue to invest in our people and leadership to provide our customers with industry-specific hosted and managed solutions.
About TITAN Technology Partners:
Headquartered in Charlotte, North Carolina, TITAN Technology Partners provides ERP hosted solutions, managed services, and IT outsourcing.
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