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"One of the primary goals in our acquisition of these two strong companies was to increase our market share in their respective geographic regions while acquiring excellent employees who know the public sector market very well," said Nancy Hedrick, CSI's Chief Executive Officer. "We have been successful in our expansion efforts in both areas. McAleer's solid reputation throughout the state of Alabama has made it easier to expand outside the K-12 arena and gain market share in the local government market space with our Easley-developed solutions. Alabama has become one of our strongest growth regions. Currently, more than 15 percent of the counties in Alabama use our local government solutions. We've also picked up municipal clients in Mississippi, Louisiana, and Alabama since the acquisition in 2007."
"On the ICS front," continued Hedrick, "we are implementing our Easley-developed payroll, business license, and construction permit systems for numerous cities in the ICS client base. To date, we've deployed new solutions to more than 15 percent of ICS's 85 municipal clients, with more being added each month."
The synergy created by merging these three organizations has created momentum that will create more growth opportunities for CSI. In addition to CSI's strong presence in the local government sector, CSI now provides financial management software to more than 90 percent of the school districts in Alabama and South Carolina. Through our organic growth and these strategic acquisitions, CSI is now poised as a leading software provider to public sector entities throughout the Southeastern United States.
About Computer Software Innovations, Inc.
CSI provides software and technology solutions to public sector markets. CSI has more than doubled its revenue in the past two years to over $58 million by using organic growth and acquisitions. The CSI solution portfolio encompasses proprietary accounting software specialized for the public sector, lesson planning and identity lifecycle management software, SharePoint development, network infrastructure and end device solutions, IP telephony and IP convergence applications, network management solutions and services, and interactive classroom technologies. More information about CSI (OTCBB: CSWI | Quote | Chart | News | PowerRating) is available at www.csioutfitters.com
Forward-Looking and Cautionary Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Among other things, these statements relate to our financial condition, results of operations and future business plans, operations, opportunities and prospects. In addition, we and our representatives may from time to time make written or oral forward-looking statements, including statements contained in filings with the Securities and Exchange Commission and in our reports to stockholders. These forward-looking statements are generally identified by the words or phrases "may," "could," "should," "expect," "anticipate," "plan," "believe," "seek," "estimate," "predict," "project" or words of similar import. These forward-looking statements are based upon our current knowledge and assumptions about future events and involve risks and uncertainties that could cause our actual results, performance or achievements to be materially different from any anticipated results, prospects, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are not guarantees of future performance. Many factors are beyond our ability to control or predict. You are accordingly cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date that we make them. We do not undertake to update any forward-looking statement that may be made from time to time by or on our behalf.
In our most recent Form 10-K, we have included risk factors and uncertainties that might cause differences between anticipated and actual future results. We have attempted to identify, in context, some of the factors that we currently believe may cause actual future experience and results to differ from our current expectations regarding the relevant matter or subject area. The operations and results of our software and systems integration businesses also may be subject to the effects of other risks and uncertainties, including, but not limited to:
-- A reduction in anticipated sales;
-- An inability to perform customer contracts at anticipated cost levels;
-- Our ability to otherwise meet the operating goals established by our
business plan;
-- Market acceptance of our new software, technology and services
offerings;
-- An economic downturn; and
-- Changes in the competitive marketplace and/or customer requirements.
Contacts Company Contact: David Dechant Computer Software Innovations, Inc. (864) 855-3900 Ddechant@csioutfitters.com Investor Contact: Daniel Conway DC Consulting, LLC (407) 792-3332 daniel@dcconsultingllc.com
SOURCE: Computer Software Innovations, Inc.
mailto:Ddechant@csioutfitters.com mailto:daniel@dcconsultingllc.com
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