QSGI (CSGI.OB) Reports 24 Percent Increase, Expects More for Coming Year
IT asset management firm QSGI Inc. (OTCBB: QSGI) reported its financial results for the first quarter of 2007 today, revealing an amazing 24 percent increase in gross profit over the previous year. "We are pleased with the 24 percent increase in our gross profit, over 500 basis point increase in our gross margin, improved operating income ... which reflects our continued shift from a pure hardware re-marketer, towards a higher-margin IT services provider," Marc Sherman, chairman and CEO of QSGI, stated in a recent press release. "During the quarter, revenues within our Data Center Maintenance division increased 35 percent, while,…