Managed IT and Printer Services Co.
This is a full-service technology solutions company offering sales, service and support for technology needs such as networking, managed services, print and document management, security, and telephony. Located in the northern Connecticut/ western Massachusetts area, it is an authorized dealer for HP, Xerox, Lexmark and Okidata printers. With 342 active customers in 2007, the Company specializes in small to medium size companies as well as institutions of higher education, public and private schools, healthcare, and legal, accounting, insurance and real estate firms.
In 2007 gross profits were almost $1.2 million with information technology (?IT?) services generating over $1.3 million in revenue and $721, 202 in gross profits. Most of the IT revenue was generated from prepaid contracts and managed service contracts which include 24/7 network monitoring. Revenue from its printer management division totaled $713,000 and after deducting the cost of printer parts, toner, and direct labor and benefits showed a gross profit of $238,577. Having added 359 printers under management in the first two months of 2008, this division is growing rapidly and management expects this channel of recurring revenue to increase by 12% in 2008. Hardware and software sales totaled $1,365,711 in 2007 but have been decreasing as the company focuses on increasing gross margins and the hardware market has become commoditized.
Over twenty years of continued growth and profitability through several business and industry cycles, its diverse customer base as well as its recurring revenue make this company a very attractive acquisition candidate.