19% first quarter 2009
Posted By: grumpy on 2009-08-26
In Reply to: In the call it was 9%, now its 15%!! nm - kitty
I found this clipping interesting; see link for more.
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Gross profit for the first quarter of 2009 was $5,343,000, an increase of $1,189,000 or 29%, over first quarter 2008 gross profit of $4,154,000. As a percentage of revenue, gross profit increased to 36% in the first quarter of 2009 from 35% in the first quarter of 2008. This was down one point compared to the three most recent quarters due to the impact of the DeVenture acquisition on the company's gross profit margins. Approximately 62% of the Company's total revenue was processed on our BeyondTXT platform in the first quarter of 2009 compared to 64% in the first quarter of 2008. Most of this reduction relates to the addition of DeVenture in 2009. Approximately 53% of our BeyondTXT volume was edited using speech recognition technology in the first quarter of 2009 compared to 38% in the first quarter of 2008. The Company's goal is to increase this percentage to at least 60% over the next twelve months. The percentage of the Company's total volume processed offshore was 19% in the first quarter of 2009 compared to 16% in the first quarter of 2008.
Whenever we acquire a company, our top priority will always be to keep all of the customers, stated Sue McGrogan, Chief Operating Officer. It is typical to see lower gross profit margins initially from companies we acquire. As we integrate the newly acquired business, we have three primary strategies to help improve the gross profit margins of acquired businesses: migrating as much of the business as possible from older platforms to BeyondTXT to take advantage of the increased productivity inherent in our speech-recognition enabled platform, considering the use of offshore resources, especially for night and weekend coverage, and implementing our operating model to streamline the operation. These three strategies are really no different than what we do every day in our existing business. I want to thank our employees, including our new team from DeVenture, for the hard work necessary to integrate DeVenture quickly and the extra effort made to reach out to DeVenture's customers and employees to begin forming strong long-term relationships with Transcend. I'm also pleased with the progress we have made with the integration of TRS in April. Our customer retention remains high, with only one customer leaving Transcend in the first quarter due to a corporate decision unrelated to our service at the local customer level.
LINK/URL: Transcend First Quarter 2009
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Only per Quarter?
I have 3% of my work audited MONTHLY.
Here's a quarter, Louise.
Call someone who cares.
one of my companies gives an extra 8,000 per quarter for bonus
x
k, its digital TV signals by 2/2009...but
I still don't know what the details are
check out 02/12/2009 string
which is on about page 4 or 5 of this board right right now. Posts claiming to be from MDI MTs who say their accounts are going to VR this weekend. Post by C. Buckley not addressing the VR issue. MDI seems to be holding its cards pretty close to the vest, and if your particular account is not involved, you may not be notified until it is. Better to know ahead of time while you have time to do something about it?
Here's the link for their ad from June 16, 2009 (sm)
Hope this helps
When doing a search on google, it said there were omitted links due to duplicates, but I clicked to show them anyway and that's when I found the link for their ad on MTStars.
Our contracts will expire at the end of 2009
at which point we will have to sign all that HIPAA confidentiality stuff and probably noncompete agreements with Transcend too. While the 2009 MDI contract says they have to pay us a certain line rate for 12 months (and this would be binding on Transcend as well) I bet what we signed says we cannot compete for at least couple of years (and this would be binding on us as it pertains to what would now be Transcend accounts.) Don't have time to hunt up and read my contract right now but I would be very surprised if the noncompete agreement expired at the end of 2009. Way to easy to walk off with accounts that way.
.07 line pay offerered by Superscript in 2009
I would have liked to have had some part-time work, but the pay offered, with my 13 years' experience and passing their test, was 7 cents per line; way too low. I counteroffered asking for a higher rate, and she said she was unable to agree. So, I told her I could not accept .07 cents or .075 cents per line. That is my experience.
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