Elite Announces Major New Contracts; Record-Breaking Quarterly Sales Volume Extends Lead in the Professional Time and Billing Market.
LOS ANGELES--(BUSINESS WIRE)--Jan. 10, 2001
Elite Information Systems Inc., a worldwide leader in practice and financial management systems for professional service firms, today announced fourth-quarter sales of $11.3 million, the largest quarterly sales volume in the company's history.
This record-breaking sales figure represents almost 40 new client contracts, creating a tremendous resurgence in business and a significantly larger backlog than in previous quarters of 2000.
Elite's strong showing during the latter part of 2000 reflected the tremendous success of the company's key strategies for growth -- maintaining its leadership in the legal market, expanding its presence in consulting and accounting firms, broadening its base of European and Canadian businesses, and providing its industry-leading practice management solutions through "e-Connect from Elite," Elite's ASP offering.
These new sales have significantly bolstered Elite's backlog levels. The revenue from these new contracts will not be reflected in fourth-quarter 2000 results, to be announced To be announced (TBA)
A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. later this month, but will generally be recorded in 2001.
"Achieving record new sales in a very difficult sales environment was a fantastic achievement," said Chris Poole Chris Poole is a gospel music singer and a former member of the award-winning gospel performing group Commissioned. Footnotes
, chairman and chief executive officer of Elite.
"While the volume of new business is in itself confirmation of Elite's strong competitive position, the variety of new customers is equally important, reflecting not only our continued success in the legal market but our ability to expand our markets into other professional service businesses and other delivery channels such as our ASP offering, e-Connect from Elite.
"Elite has also launched an aggressive new research and development program that will bring a host of innovative new products and services from Elite, Elite.com and Law Manager that will further expand our potential market for Elite's offerings."
Some of Elite's new clients this quarter include Morrison & Foerster of San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden ; Baker & Daniels of Indianapolis; Navigant Consulting of Oakbrook Terrace, Ill.; Hale and Dorr LLP LLP - Lower Layer Protocol of Boston; Goodmans of Toronto; and Patton Boggs of Washington, D.C.
"Out of everything Elite offers prospective clients, perhaps most important is the stability and solid experience of a company with minimal turnover and a talented management team," Poole continued. "Elite stands for high quality and high standards, and we're proud of the reputation we've earned. Nothing is more important to us than providing the best products and service possible."
About Elite Information Systems
Elite Information Group Inc. (Nasdaq:ELTE ELTE Eötvös Loránd University (Budapest, Hungary)
ELTE El Camino Real de los Tejas National Historic Trail (US National Park Service)
ELTE Ethernet Line Termination Equipment ) is an international provider of a comprehensive suite of financial and practice management products, including integrated time and billing, general ledger General Ledger
A company's accounting records. This formal ledger contains all the financial accounts and statements of a business.
The ledger uses two columns: one records debits, the other has offsetting credits. , accounts payable and matter management products, as well as related consulting services.
Elite's customers include legal and other professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. organizations of all sizes, such as accounting, consulting, public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most , financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. , actuarial ac·tu·ar·y
n. pl. ac·tu·ar·ies
A statistician who computes insurance risks and premiums.
[Latin , software, security, insurance, market research and systems integration firms, as well as corporations and government agencies.
For more information, visit the company's Web site at http://www.eliteis.com.