Quadrant 4 Systems Corporation Announces 2011 Second Quarter Financial Results

ROLLING MEADOWS, Ill., Aug. 18, 2011 /PRNewswire/ -- Quadrant 4 Systems Corporation (Quadrant) (OTCBB: QFOR) today announced its financial and operational results for the second quarter of 2011.

Second Quarter Operational and Financial Highlights:

• The Company's ticker change went effective from ZLON to QFOR; the ticker change better reflects the Company's new name that was changed in April 2011
• Quadrant 4 announced the launch of a set of new initiatives for Cloud Computing, Data Management and Managed Services for the financial, health care, and retail verticals; these new initiatives will provide Quadrant 4's global customers with a cost-effective model for securing, transporting and distribution of data and streamlining applications within a Web-hosted environment
• The Company announced it has successfully merged its consulting entities, VSG Acquisition Corporation, RM Acquisition Corporation and ISS Acquisition Corporation, which were acquired in 2010
• The Company closed the second phase of its working capital financing arrangement with Porter Capital Corporation ("Porter Capital") and has received additional capital in the amount of $3.5 million from Porter Capital

Revenues for the three months ended June 30, 2011 totaled $8,567,333 compared to $4,324,814 of revenue during the comparable period in 2010.  The increase in revenues of $4,242,519 was due to the Company's acquisition of three entities in 2010 and one in 2011.  Revenues were comprised of service-related sales of software programming, consulting and development services.

Revenues for the six months ended June 30, 2011 totaled $14,002,326 compared to $4,336,539 of revenue during the comparable period in 2010.  The increase in revenues of $9,665,787 was due to the Company's acquisition of three entities in 2010 and one in 2011.   Revenues were comprised of service-related sales of software programming, consulting and development services.

Dhru Desai, Chairman of the Board for Quadrant 4, stated, "The period ending June 30, 2011 marks the 5th consecutive quarter of positive EBITDA results and revenue growth since the Company embraced its new business plan in 2010.  We are very pleased with both the operating results this past quarter and the initiatives we have launched to deploy the Cloud Based solutions and the delivery model.  All of our acquisitions are fully integrated and we are looking forward to a continued trend of growth for the Company."

Dr. Nandu Thondavadi, CEO of Quadrant 4 Systems, said, "Quadrant 4's solutions division is making significant progress in renewing the strategic relationships with its fortune 500 clients as the Company's delivery capability is soaring.  The Company is continuing to examine carefully its acquisition targets and further enhance the solutions platform to penetrate its vertical market strategy of delivering industry specific solutions."

To view the Company's current Form 10-Q, please visit www.sec.gov or click on the following link:http://sec.gov/Archives/edgar/data/878802/000118518511001383/quadrant4-10q063011.htm

About Quadrant 4 Systems Corporation

Quadrant 4 Systems Corporation delivers end-to-end information technology solutions to its clients through a unique blend of consulting, software development & maintenance, cloud based products and technology from its global delivery centers. The company currently focuses on Financial Services, Health Care, Retail, Manufacturing and Telecommunication sectors with a broad spectrum of services and technology practices that include ERP, SCM, CRM, e-Commerce, m-Commerce, SFA, Microsoft, Java and Legacy platforms, BI/DW, testing, platform migration, web technologies and others. The company plans to enter the IT enabled and managed services sector and cloud based services through business acquisitions and/or combination opportunities in the near future to further execute its articulated business strategy.

Forward-Looking Statements

This release contains forward-looking statements which are subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipate," "expects," "estimates," and similar expressions) should be considered to be forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as each is amended, for which the Private Securities Litigation Reform Act of 1995 provides a safe harbor. Certain factors (including but not limited to those risk factors identified from time to time in our filings with the Securities and Exchange Commission as well as changes in economic conditions; outcome of negotiations; changes in the Company's access to necessary capital; outcome of litigation; volatility of capital markets; variability and timing of business opportunities; changes in accounting policies and practices; the effects of internal organizational changes; adverse state and federal regulation and legislation; and the occurrence of extraordinary or catastrophic events and terrorist acts; or other unforeseen changes in circumstances) could cause actual results and conditions to differ materially from those projected in such forward-looking statements. We do not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this release is based on information currently available and may not be reliable after this date.

Investor Contact:
DC Consulting, LLC
(407)792-3332
[email protected]

SOURCE Quadrant 4 Systems Corporation