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QHR Announces Support Revenue of $2,150,000 for 2008
Friday, January 25, 2008
(QHR – TSX Venture Exchange) Mr. Al Hildebrandt, President and CEO of the Company, is
pleased to report that the Company’s wholly owned subsidiary, QHR Software Inc. has increased its support and recurring revenue for 2008 to approximately $2,150,000.
Annual support services billings for 2008 is up $100,000 from 2007 and represents the sixth consecutive year with growth in this important revenue area. The growth of annually recurring support service revenue is being fuelled by the addition of new clients and the adoption of additional HR functionality by existing clients. The progress of the financial contribution of support agreements to the ongoing financial health of QHR can be demonstrated as follows:
Support
Revenue
2008 2007 2006 2005 2004 2003
$2,150,000 $2,050,000 $1,750,000 $1,400,000 $1,000,000 $750,000
Support revenue provides a reliable annual source of capital for the operations of the Company. The combination of recurring revenue from HR software and its Electronic Medical Record software now exceeds $3,850,000 annually.
© 2008, QHR Technologies Inc.
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