Growth in revenue, new customers and new staff exceeds plan
FOR IMMEDIATE RELEASE—March 11, 2009—Ann Arbor, MI: Logic Solutions, Inc., a leader in software development, web site implementation, and web applications, today announced double digit revenue growth for calendar 2008. Additionally, the company added 27 new development customers and a number of new employees during the year and expects continued growth in 2009.
“2008 proved to be one of Logic’s more successful years in business,” said Jimmy Hsiao, CEO for Logic Solutions. “Our revenue growth exceeded plan and we further broadened our range of services, including the expansion of our e-learning courseware development practice, the expansion of our IT management capability, the addition of multi-language help desk support, and the launch of our China Business Development practice.”
“Although the current economic environment is clearly challenging, we are cautiously optimistic about continued growth,” Hsiao continued. “We anticipate growing revenue at 20 percent and plan to add staff in marketing and technical project management. We also see a strong opportunity in strategic partnerships and will aggressively build our roster of new partners in 2009.”
Logic also announced that recurring revenue from web application development contracts for 2008 grew by over $2M, the highest level in the company’s 14 year history.
In Logic’s China Services practice, which provides support for U.S.-based companies in China, the company added three new capabilities. In China, Logic now provides business development services, IT support and software implementation, and sourcing services to help identify new suppliers.