Claremont reports a 74% annual revenue increase Q4 more than doubles to $8.3 million.

PORTLAND, Ore.--(BUSINESS WIRE)--Aug. 1, 1995--Claremont Technology Group Inc., a leading information technology consulting and systems integration firm, has released its financial results for the Fiscal Year ending June 30, 1995.

With a revenue increase from $15.7 million to $27.3 million, management credits the gains on focused marketing and professional services delivery in key growth industries.

According to Claremont's founder and Chairman Steve Darrow, "This, our sixth year in business, was witness to spectacular growth. As we look to the future, Claremont is well-positioned to take advantage of the strong demand for our services in an increasing number of markets."

Paul Cosgrave, president and CEO added, "During strategic planning sessions, it became clear that our growth would be linked to the expertise in projects gained by working with successful clients within select services industries, such as telecommunications, banking, and pension/retirement systems. We believed their success could help breed our own. While these projects had previously been largely ignored by the major integrators, the strategy of focusing on select industries has paid off for Claremont."

As Fiscal Year 1995 drew to a close, the company experienced a dramatic revenue increase of 108%, from $4.0 million to $8.3 million in the fourth quarter. "When we examine new contracts pending and closed in light of our Q4 results, we look forward to an extremely strong FY '96," added Terry Murphy, Claremont CFO. "For example, on July 24, we signed an agreement to provide services to the Public Employees' Retirement System of Mississippi. It will generate revenues in excess of $13 million over the course of the contract," Cosgrave offered.

"A year ago, we decided to become extremely focused on building long-term relationships in specific industries, to seek extraordinarily talented people, and to find clients who were exhausted by high-priced, transient technology 'partnerships'," added Darrow. "And now, we're expanding to other industries within the services sector - transportation, environmental, and retailing to name a few. We're finding people with both operational and technological expertise in these industries, and we're targeting potential clients who want to improve service to their customers. The formula is working."

The boost in revenue is particularly exciting for Claremont's 300-plus employees because the firm has recently launched an Employee Stock Ownership Plan (ESOP) in which each employee will share in the company's success. This year, Claremont added 120 people, and more are being recruited everyday through an aggressive out-reach program on college campuses and professional searches throughout the U.S., and recently in the United Kingdom and Canada. Further, more global expansion is projected in 1996.

Management expects the growth pattern to be maintained over the next several years, with a goal of breaking the $100 million annual revenue mark by the year 2000. "The coming of 2000 is inevitable; reaching $100 million in revenues is not. That's in part why we've created an ownership culture to attract and retain superior talent to ensure we reach the objective," said Cosgrave.

Completing his first full year as Claremont CEO, Cosgrave had been with Arthur Andersen & Co. (Andersen Consulting) for 19 years, the last two serving as Managing Partner of the Integrated Services Practice in the Americas.

Claremont Technology Group Inc. provides IT services designed to improve a client's business and responsiveness to their customers. Serving clients principally in Public Retirement Systems, Global Communications and Financial Services, Claremont also has experience in environmental, retail, transportation, public utilities, health care, and both high technology and process manufacturing. Services include: core client/server systems migration and integration services, IT architectural planning, highly customized network-based solutions, electronic commerce solutions on the Internet, advanced groupware applications, and complex electronic document management systems.

Claremont is an employee-owned company with its corporate headquarters in Portland, OR. The company has systems consulting and support offices in Seattle, WA; Sacramento, CA; Cincinnati, Cleveland and Columbus, OH; Basking Ridge, NJ; New York, NY; Montreal, Canada; and London, England.

CONTACT: Claremont Technology Group

Krista Wald, 800/487-8364 ext. 25

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Michael Becce, 908/747-9330

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