Broadband distributor Quadtel has released its financial results for the quarter to June 30, including a 97 per cent increase in sales over the same period last year and a 62 per cent increase on the previous quarter.
Revenues totalled $5.9 million for the fourth quarter and the company expects to announce full financial year sales of $18.5 million. This exceeds the forecasted result of $16 million and represents a big jump from the $8.5 million it accrued in the financial year to June 2001.
"Needless to say, these are very pleasing results which we can all be very proud of," Quadtel chairman and interim CEO David Ramsay said in a press statement. "They demonstrate the rewards of a healthy business model, persistence and budgeting.
"Now that the foundations have been laid, I am confident that Quadtel will continue to grow and surpass all expectations for many more years to come," he said.
Quadtel recently lost its CEO, Rod Orrock, who resigned to take up a position with retail giant Harvey Norman. According to the press statement, 75 per cent of the 2001-2002 revenues came from the retail-focused part of the business, formerly Marketing Results, which Orrock sold to Quadtel early in 2001.