December 2005
BLM Technologies Reports Banner Year in 2005
-- Company experienced 18 percent revenue increase over fiscal year 2004 --
MINNEAPOLIS, December 19, 2005 — Minneapolis-based BLM Technologies, Inc., a single source provider of technology consulting and branch automation solutions and services for the retail banking industry, reported record revenues for the fiscal year ending October 31, 2005. The company's annual revenue was up 18 percent over the prior fiscal year.
BLM's substantial revenue increase is due to the company's continued focus on the banking vertical market. The company has expanded its sales force, adding two experienced banking sales associates. BLM has also expanded the network of hardware solutions it offers its customers, with an emphasis on check scanners, printers and counterfeit detection devices.
"We have high expectations for the upcoming year, as more banks make the necessary infrastructure modifications to transition to Check 21 and continue to accept our cost effective service solutions," said Ron Meinhardt, president of BLM Technologies. "We will continue to leverage our knowledge to be a single source provider of solutions to our banking customers."
On January 1, 2006, BLM Technologies will also expand an existing service relationship with a large regional bank based in San Francisco to include on-site services for an additional 300 locations in Colorado and New Mexico. BLM currently provides on-site services to more than 1,000 of the bank's locations, spanning eleven states. The top tier bank has been BLM's customer for more than five years.
< BACK > < NEXT >
BLM Technologies Reports Banner Year in 2005
-- Company experienced 18 percent revenue increase over fiscal year 2004 --
MINNEAPOLIS, December 19, 2005 — Minneapolis-based BLM Technologies, Inc., a single source provider of technology consulting and branch automation solutions and services for the retail banking industry, reported record revenues for the fiscal year ending October 31, 2005. The company's annual revenue was up 18 percent over the prior fiscal year.
BLM's substantial revenue increase is due to the company's continued focus on the banking vertical market. The company has expanded its sales force, adding two experienced banking sales associates. BLM has also expanded the network of hardware solutions it offers its customers, with an emphasis on check scanners, printers and counterfeit detection devices.
"We have high expectations for the upcoming year, as more banks make the necessary infrastructure modifications to transition to Check 21 and continue to accept our cost effective service solutions," said Ron Meinhardt, president of BLM Technologies. "We will continue to leverage our knowledge to be a single source provider of solutions to our banking customers."
On January 1, 2006, BLM Technologies will also expand an existing service relationship with a large regional bank based in San Francisco to include on-site services for an additional 300 locations in Colorado and New Mexico. BLM currently provides on-site services to more than 1,000 of the bank's locations, spanning eleven states. The top tier bank has been BLM's customer for more than five years.
< BACK > < NEXT >