Santeon Reviews Key Accomplishments for 2012
RESTON, Va., Dec. 19, 2012 /PRNewswire/ -- Santeon Group, Inc. (OTC: SANT, "Santeon" or "the Company") reviews key accomplishments for 2012.
Dr. Ash Rofail, Chief Executive Officer of Santeon Group Inc. commented on the year nearly completed, "2012 is shaping up to be a great year for Santeon shareholders and employees. With our focus on customer acquisition, revenue growth, operational execution and financial profitability, we have already witnessed a number of successes this year. Since the merger with ubroadcast, inc. in 2010, we have met our fair share of challenges with the integration process and our focus on improving our financial and operational profile. However, during this time, we managed to grow revenue 76% from 2010 to 2011 in spite of a very lean organization. As we near the close the year, we are very proud of our efforts and are excited for the opportunities ahead for Santeon."
Year-to-Date Financial and Operational Achievements:
- Achieved revenue growth of 90% year-over-year for the nine months ended September 30, 2012 vs. the nine months ended September 30, 2011;
- Grew revenue each quarter sequentially for the last eight quarters;
- Reached Net Income profitability in each of the last two consecutive quarters;
- Produced significant cash flow from operations in the three months ended September 30, 2012, achieving cash flow independence and providing the Company with operating flexibility;
- Improved the Company's balance sheet and overall financial profile materially since the year ended December 31, 2010;
- Expanded the Agile practice with the acquisition of two major customers in 2012 and significantly higher revenue from three other existing Agile customers;
- Added more than five revenue-producing, top-tier Agile coaches during 2012 that will significantly enhance that practice and firmly establish Santeon in both the commercial and government arenas as a premier industry thought-leader;
- Signed partnership agreements with four major human resource management system software providers positioning the electronic Benefits Network ("eBN") business for substantial future growth;
- Launched today a new, significantly improved platform for ubroadcast with enhanced features and functionality;
- Achieved full compliance with SEC filing requirements in October 2012 and will stay current with future filings; and
- Reduced the number of common shares issued and outstanding from approximately four hundred seventy-six million to approximately one million two hundred thousand by effecting a one for four hundred (1:400) reverse stock split to enhance and stabilize the share price as well as attract the attention of larger potential shareholders.
Dr. Rofail concluded, "This has been a great year. We are proud of our accomplishments and I am particularly grateful to the shareholders who continue to believe in Santeon and the Santeon employees who work hard each day to help the Company achieve its objectives. Given the progress we have achieved through meeting our financial and operational objectives, we have no immediate need nor are we actively seeking to raise additional funds through equity issuances. We expect 2013 to be another year of solid execution and have set aggressive targets for our team, both operationally and financially. Make no mistake, 2012 was a tough year and 2013 will be even more challenging, but we have the right team with the right products and services to make 2013 another successful year."
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 or improve the company's stock price 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. For additional information about Santeon's 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, except as may be required by applicable law, whether as a result of new information, future events or otherwise.
Santeon Group, Inc.
703-970-9200, ext. 112
SOURCE Santeon Group, Inc.