SHI International Corp. Announces Third Quarter 2012 Results
Company's strong third quarter, driven in part by a rise in public sector sales, keeps it on track for a record-breaking year
SOMERSET, N.J.--(BUSINESS WIRE)-- SHI International Corp., one of North America's top 20 largest IT solutions providers, today announced that third quarter 2012 revenues grew to over $900 million. SHI's overall $3.03 billion year-to-date revenue is up over 15 percent from the same period a year ago and keeps SHI on pace to break the company's forecasted $4 billion in annual sales for the first time in its history. SHI's public sector division, which includes local, state, and federal government clients as well as academic institutions, stood out this quarter, with sales up 35 percent year over year and up 26 percent year to date.
"Our third-quarter growth reflects our ability to deliver high-powered, cost-effective solutions backed by world-class customer support," said Thai Lee, President and CEO of SHI International Corp. "In particular, our public sector division earned significant growth this quarter due to a number of new contract wins driven by a mix of solutions. Our continued expansion in all verticals and geographies is a testament to our ability to fulfill our customers' needs, and a direct outgrowth of our strong network of partners and the tireless work of our employees."
SHI's public sector growth was fueled in part by SHI's contract with the Western State Contracting Alliance (WSCA). The WSCA, for which SHI is named a software value added reseller (SVAR), has added 10 states since July 2011. In addition, federal government business has risen 37 percent year over year. Outside the public sector, enterprise sales and SMB sales have increased 7 percent and 50 percent, respectively, for the year.
Founded in 1989, SHI International Corp. is a $4 billion+ global provider of technology products and services. Driven by the industry's most experienced and stable sales force and backed by software volume licensing experts, hardware procurement specialists, and certified IT services professionals, SHI delivers custom IT solutions to Corporate, Enterprise, Public Sector, and Academic customers. With over 1,900 employees worldwide, SHI is the largest Minority and Woman Owned Business Enterprise (MWBE) in the U.S. and is ranked 18th among Everything Channel's VAR 500 list of North American IT solution providers. For more information, visit http://www.shi.com.
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KEYWORDS: United States North America New Jersey
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