Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Bullboard - Stock Discussion Forum Pivot Technology Solutions Inc. T.PTG

"Pivot Technology Solutions Inc offers IT solutions to businesses, government, education, and healthcare organizations. It operates through the following segments: ACS, ARC, ProSys, Sigma, TeraMach, Shared services. The company derives the maximum revenue from the ProSys segment which sells storage, server, and IT infrastructure consulting solutions to enterprises. Geographically, it derives... see more

TSX:PTG - Post Discussion

Pivot Technology Solutions Inc. > PTG Reports Estimated 2017 Revenue for Prosys Business Unit
View:
Post by kulewater on Jan 03, 2018 9:10am

PTG Reports Estimated 2017 Revenue for Prosys Business Unit

Pivot Technology Solutions, Inc. Reports Estimated 2017 Revenue for Prosys Business Unit
 
TORONTO, Jan. 3, 2018 /CNW/ - Pivot Technology Solutions, Inc. (TSX: PTG), ("Pivot" or the "Company") a full-service information technology provider, today reported that its Prosys business unit generated revenue of approximately US$98 million for the month of December and approximately US$725 million for the year ended December 31, 2017 (on gross billings1 of US$106 million and US$814 million, respectively). 
 
These results are preliminary only and are subject to confirmation and audit.  Although revenue for both the month and the fiscal year represents a record for Prosys, the impact on Prosys and overall Company earnings has yet to be determined. Moreover, 2017 consolidated revenue and earnings for the Company as a whole have yet to be finalized and will only be released upon completion of the year-end audit in March 2018. 
 
"We recently realigned the sales leadership team at Prosys to better capture opportunities," said Kevin Shank, Pivot's President and Chief Executive Officer. "We believe these changes will improve our vendor/partner alignment and the productivity of the sales teams covering Prosys territories.  Additionally, the changes created management capacity to assist with the ongoing expansion of TeraMach, which is one of Pivot's new growth leaders."
 
Among the changes made:
 
John Little (Pivot's Executive Vice President, Sales) took responsibility for all remaining Prosys sales teams within the South-Central regions and for the expansion of sales and services into new markets within the Central region of the US.
 
John Conner (Pivot's Executive Vice President, Sales), who had previously run the South-Central region of Prosys and worked with the TeraMach business unit, is now 100% focused on expanding the Canadian service businesses.
Ariel Valdes was appointed Professional Services Pre-Sales and Mike Lagana was named Professional Services Delivery Leader for Prosys.
 
1Gross billings is a non-IFRS term that does not have any standardized meaning prescribed within IFRS and therefore may not be comparable to similar measures presented by other companies. Such measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS such as revenue.
 
About Pivot Technology Solutions, Inc. 
Pivot is an industry leading information technology services and solutions provider to many of the world's most successful companies, including members of the Fortune 1000, as well as governments and educational institutions. By leveraging its extensive OEM partnerships and its own fulfillment, professional, deployment, workforce and managed services, Pivot supports the IT infrastructure needs of its clients. For more information, visit www.pivotts.com.
Comment by digitel on Jan 03, 2018 9:13am
This post has been removed in accordance with Community Policy
Comment by kulewater on Jan 03, 2018 9:21am
..revenue for both the month and the fiscal year represents a record for Prosys, I appreciate the approach of understating this highlight by management. Looking forward to getting the full earnings on record. Just some of my thoughts.
Comment by digitel on Jan 04, 2018 2:12pm
This post has been removed in accordance with Community Policy
Comment by kulewater on Jan 04, 2018 2:22pm
The Q may not have been a record Q. So kind of a moot point based on the highlight presented. A record year and month is more interesting to me personally. Just some of my thoughts.
Comment by knicksman on Jan 04, 2018 3:16pm
My sense is that the company is trying to highlight a "new" higher run-rate.
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities