Southern Solutions continues to see growth in our Services Revenue for the Second Quarter and First Half of 2013. Overall revenue was up 17% for the first half over 2012. Services Revenue has been 47% of our total revenue year to date, compared to 23% this time last year. Recurring Services Revenue (monthly equipment maintenance & supply agreements and monthly Managed Network/IT Services) has represented 33% of our total revenue for 2013 and was 14% of the first half of 2012. We anticipate our growing services business to represent 52% of our total revenue for 2013.
Second Quarter Highlights:
– Total Services Revenue Increased 215% YOY (year over year)
– Equipment Maintenance Service Recurring Revenue Increased 499% YOY
– New Equipment Maintenance Agreements Increased 167% YOY
– Managed Network Services Recurring Revenue Increased 37% YOY
– Total Recurring Services Revenue Increased 218% YOY
– Non-Customer Transactions Increased 200% YOY
First Half Highlights:
– Total Services Revenue Increased 137% YOY
– Equipment Maintenance Service Recurring Revenue Increased 610% YOY
– New Equipment Maintenance Agreements Increased 129% YOY
– New Managed Network Services Customers Increased 20% YOY
– Total Recurring Services Revenue Increased 175% YOY
– Non-Customer Transactions Increased 320% YOY
Southern Solutions was established in 2006 as the authorized Xerox Sales agency in Southern Maryland. In 2010, we began offering equipment maintenance agreements for technical product support and supplies directly from Southern Solutions. Support is provided for Xerox & non-Xerox printers through our Print Management Solution. We also began offering IT Support and monthly Managed Network Services plans. We now have 546 customers, provide support through our Direct Southern Solutions Channel or Xerox Channel for 883 copier/printer/multifunction units, provide monthly Managed Network Services to 26 customers and directly manage over a million prints per month for our customers through our Print Management Solution.
