RESTON, Va., Nov. 2, 2012 /PRNewswire/ -- Santeon Group, Inc. (OTC.BB: SANT) announced that on November 1, 2012 the Company filed its third quarter 2012 SEC Form 10-Q and its strongest yet financial performance for the quarter and year-to-date period ending September 30, 2012. Santeon proudly announced that revenues for the three months ended September 30, 2012 increased by 104% compared to the three months ended September 30, 2011 and it posted net profits for the three and nine month periods ended September 30, 2012 as compared to net losses in the same periods in 2011 and prior. With the filing of the third quarter 2012 SEC Form 10-Q, Santeon reported its second consecutive quarter of operating profits.
In addition to the strong operating results, the Company presented a significantly improved financial position based on the $217K of cash generated from operating activities and a strong cash balance at quarter-end while significantly reducing debt.
"We are very excited to file our 10-Q well ahead of its due date and to report record financial performance," commented Dr. Ashraf Rofail, Chairman and CEO of Santeon Group, Inc. "We are on a fast-paced growth trajectory with a prudent eye toward profitability and reduction of our operating expenses and liabilities. We are thankful to our clients who trust us with their strategic initiatives and projects, our employees for their dedication and exceptional service and our shareholders who continue to support us as we continue to deliver on our promises," continued Dr. Rofail. "In the coming weeks we will continue to share good news of sustained growth in our federal and commercial practices, as well as our intention to implement key strategic initiatives," concluded Dr. Rofail.
Additional details and commentary regarding the Company's financial and operating results for the three and nine months ended September 30, 2012 can be found in the SEC Form 10-Q on the Company's website at www.santeon.com/Sec_filings.html.
About Santeon Group, Inc.
Santeon Group, Inc. is a technology company headquartered in Northern Virginia with offices in Reston, VA, Tampa, FL, Cairo, Egypt and Pune, India. Santeon offers products and services in Agile training and transformation, healthcare and media. Santeon's goal is to serve emerging markets by providing technically superior products and solutions while reducing the cost of ownership and deployment of these solutions through a strong channel partner and distribution model. For more information please visit our web site at http://www.santeon.com.
Safe Harbor Statement:
The preceding press release may include statements that include, among others, forward-looking statements about our beliefs, plans, objectives, goals, expectations, estimates and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. The words "may", "could", "should", "would", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target", "goal" and similar expressions are intended to identify forward-looking statements. All forward-looking statements, by their nature, are subject to risks and uncertainties. Our actual future results may differ materially from those set forth in the forward-looking statements. Our ability to achieve our financial objectives could be adversely affected by many factors, including, without limitation, the following factors: The strength of the United States economy, changes in the securities markets legislative or regulatory changes, the loss of key personnel, technological changes, changes in customer habits, our ability to manage these and other risks, and our ability to deliver products and services on time. However, other factors besides those listed above could adversely affect our results, and you should not consider any such list of factors to be a complete set of all potential risks or uncertainties. These forward-looking statements are not guarantees of future performance, but reflect the present expectations of future events by our management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Any forward-looking statements made by us speak only as of the date they are made. We do not undertake to update any forward-looking statement, except as required by applicable law. For additional information about Santeon's future business and financial results, refer to Santeon's Annual Report on Form 10‐K that may be found at sec.gov or on http://santeon.com/Sec_Filings.html. Santeon undertakes no obligation to update any forward-looking statements that may be made from time to time by the company, whether as a result of new information, future events or otherwise.
Investor Relations Contacts:
Santeon Group, Inc.
703-970-9200, ext. 112
SOURCE Santeon Group, Inc.