Santeon Group, Inc. Files 2011 Annual Report and Provides Highlights of 2011 Financial Results
AUG 16, 2012 - 18:42 ET
FOR: SANTEON GROUP, INC.
Revenues Grew by 76% Over 2010; Gross Profit Increased by 38% Over 2010; Four New Large Customers Added in 2011
RESTON, VA--(Marketwire - August 16, 2012) - Santeon Group, Inc. (OTCBB: SANT) today announced that it has filed with the SEC its 2011 annual report on Form 10-K and expects to file the three quarterly 10-Q reports for the quarters ended March 31, June 30 and September 30, 2011 over the next 45 days. The Company also announced that its 2011 revenue increased 76% over 2010 and net operating losses significantly improved despite investing heavily in new business growth.
"I am satisfied by our growth and performance in the middle of a generally slow economic environment in 2011, and we are working hard to reduce our operating losses to return to profitability," commented Dr. Ashraf Rofail, Santeon Chairman and CEO. "We are confident that we will repeat and perhaps exceed that same revenue growth percentage in 2012 over 2011 and potentially show an operating profit in late 2012. Our commitment to shareholders is to build a strong and sustainable foundation for continued growth. We are focused daily on acquiring new contracts, growing our existing client base and managing our costs without hindering the growth of the business. I have full confidence in our management team and our strategy and we continually receive validation from new as well as existing clients of our innovative and thought leadership position in the industry," continued Dr. Rofail. "Over the coming weeks, we will be completing our 2011 filings and soon will be current with our 2012 SEC filings. We will also keep our shareholders and partner informed with respect to new contracts and product releases," concluded Dr. Rofail.
Santeon will conduct a shareholder information call to discuss details of 2011's financial performance over 2010 as well as discuss recent operational progress and performance to date. The Company will issue a press release soon with details of the call, as they become available.
About Santeon Group, Inc.
Santeon Group is a technology company headquartered in Northern Virginia with offices in Reston, VA, Tampa, FL, Cairo, Egypt and Pune, India. Santeon offers products and services in Agile training and transformation, healthcare, energy and media. Santeon's goal is to serve emerging markets by providing technically superior products and solutions while reducing the cost of ownership and deployment of these solutions through a strong channel partner and distribution model. For more information please visit our web site at http://www.santeon.com.
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