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Breakthrough Quarters, 2009 Results
Medina, Ohio-based GHI Internet Services, a leading interactive media, internet marketing and SaaS software company and the Internet Division to parent company Griffith Holdings, Inc. reported to its board solid first, second, and third quarter results for 2009. Profits, earnings, revenue growth, and continued margin expansion marked the best first three quarters in the company's 10 year history capped with a run rate for annuity revenues growing at 15% from the previous year and one time project work up 52%.
"GHI's Internet Division's performance this year is nothing but "totally unexpected", said Frank Griffith, Griffith Holdings chairman and CEO. We started the year bracing for the market downturn and since then have found every single operating and financial indicator within the business is up, and up significantly. And the third quarter ended with the strongest momentum in the company's history, posting strong operating and superior financial performance achieving two important product development milestones: (1) GHI's Search Engine Marketing Staff delivered on its 750th client engagement and (2) GHI's SaaS-based HTML Email Software, CleanAir™, began self-securing and automatically implementing new email marketing clients without technical staff involvement ... a must-have value for both our clients and our profitability."
Financial Results
GHI's profit increased 58% percent compared to the previous period a year ago. Revenue trends improved as a result of stronger than expected sales within GHI's Website Redesign Practice Group and it's portfolio of internet marketing products: Organic, PPC, and Social Media Search Engine Marketing Services. GHI's industry-unique web site maintenance services, called Connecting Smarter™, continued to grow as we added more features to that retainer integrating Search Engine Marketing Services and HTML Email Software Services to the traditional marketing and website maintenance capabilities. "Revenue growth from expanded investment in GHI's many web properties through organic search engine marketing and our continued commitment to third party channel partners, coupled with a growing, referral-oriented client base that now exceeds 1,000 clients, have driven this improvement," said Jeff Reusser, GHI's Chief Financial Officer.
Internet Marketing and Web Design
Strong demand and continued Search Engine Marketing Service contract retention for GHI's Internet Marketing Services has been the highlight for the year thus far. The company added 61 new clients with significant penetration into accounts in Southern Ohio, New York, Texas, California, and Illinois. Net additional growth in our Web Redesign Practice contributed 105 new projects amounting to an increase of 84% reflecting strong demand within our existing client base for additional products and services consumption. And finally, our opt-in HTML email software, CleanAir™, generated 29 new clients showing renewed strength in GHI's belief in and commitment to the SaaS market and business model.
Software as a Service (SaaS)
GHI believes strongly in the future of web-based, web-hosted solutions as the primary method for licensing and using software. GHI will make many investments in this area over the next few years hoping to strengthen our position within the end-user client market and our channel base. We will be adding products and services in the coming quarters like Ecommerce, Content Management, Help Desk, and Project Planning.
International
GHI's international incubators delivered on more than 40 projects in 2009 for GHI and our channel partners. We continue to make special technology, infrastructure and training investments in our African shops in Nigeria and Uganda. Both firms have quality staff and skills who have contributed profitably on every project. We plan to leverage their resources in our ever-growing web site maintenance services group.
About Griffith Holdings
Founded in 1993, Griffith Holdings, Inc. (GHI) is a global communications firm helping more than 4,500 clients connect smarter with their markets through a customized combination of internet, marketing and telecom services.
GHI delivers this customer connection service through three business units.
GHI
Internet Services is an interactive media firm specializing in web site design, Internet marketing services, and ASP solutions.
GHI Marketing Services is a sales and marketing consulting firm specializing in go-to-market strategies for high-tech clients.
GHI Telecom Services is a telecommunications expense management firm providing voice, data, and IP networking services saving more than $16,000,000 for clients in the past 8 years.
Whether clients use the Internet, telephone, and / or traditional marketing services to reach their audiences, GHI's communications solutions connect their brands, people, products, and processes to their markets. Smarter.
For more information call 330.723.3136
or visit our family of web properties:
www.griffithholdings.com
www.ghiis.com
www.ghims.com
www.ghits.com
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