Nerds On Site Inc. Reports Gross Revenues Up 20% Year Over Year
US AND CANADIAN GROWTH TARGETS EXCEEDED IN CALENDAR 2019 ILLUSTRATING PROGRESS IN THE COMPANY'S EXPANSION STRATEGY
TORONTO, Jan. 21, 2020 /CNW/ - Nerds On Site Inc. ("NERDS" or the "Company") (CSE: NERD) (FSE: 3NS.F) (QTCQB: NOSUF), a mobile IT solutions company servicing the SME marketplace in Canada and the USA announces that 2019 gross revenue has exceeded 2018 by 20%, with continued growth as the second half of the year exceeded 2018 gross revenue by 25%. Quarterly financials, for the quarter ending November 30th, 2019 will be released at the end of January.
The Company added 20 new NERDS in 2019, exceeding its goal of 15 as interest in expansion into new markets continues to gain traction. In addition, the Company added 70 new retail operations in Canada that are now using its proprietary TimeWellScheduled software. Cybersecurity services represent a continuing growth sector as previously reported, and leadership is pursuing new, significant and sustainable opportunities in the Company's cybersecurity business line, both in the US and Canada.
"We are deploying our resources toward our growth objectives throughout North America and this revenue increase is a strong indicator of the team's success to date," said Mr. Charles Regan, NERDS CEO. "Because of ongoing changes in the market regarding cybersecurity and tech over the last 18 months we have made the shift to security first, as our focus, and our traditional tech second. We are building off our proven NERD SME IT service model, emphasizing the highly lucrative cybersecurity line, which is serving to turn prospects into clients and open new channel partnership opportunities. All of which bodes well for continued growth in 2020."
About Nerds On Site:
Nerds On Site, a company founded in 1995, specializes in providing cost effective, leading edge solutions to Small and Medium sized Enterprise (SME), serving as the complete SME IT solution specialists. Nerds On Site was established in London, Ontario with current annual revenues of approximately $10,000,000 with normalized net earnings of about $100,000.00. The company services over 12,000 clients per year with a superb 96.5% customer satisfaction rating. NOS's business model is based on Nerds sub-contracts in Canada and a Franchise model for USA expansion.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements - Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE Nerds On Site Inc.
Mr. Charles Regan, CEO of Nerds On Site, Please visit www.investors.nerdsonsite.com, Call 1-877-778-2335, or email [email protected].
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