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Cirrus Networks revenue continues climb; company inks new deal

31 Aug 2016

Cirrus Networks has won a $350,000 contract to supply Western Australia’s City of Armadale with a next generation data storage platform.

The platform is designed to provide a low latency, high performance solution for the local government’s business critical workloads, future proofing the city while lowering operational and administration costs.

Frank Richmond, Cirrus Networks managing director, says the contract demonstrates Cirrus Networks’ capability and understanding of the local government sector.

The win comes as the Perth-based IT solutions integrator announces it grew revenue by 31% hitting $19.5 million in the year to June 30, as well as an additional $4 million of annuity-based managed service contracts. However, the company reported an underlying loss of $1.6 million on the back of heavy investments, including the acquisition of L7 Solutions, the opening of its new Canberra offices, and the establishment of a managed services division including related cloud infrastructure.

Richmond says the results were ‘very pleasing’ for the company’s first year as a listed entity.

“To continue our strong revenue growth in H2 while restructuring the business after the L7 Solutions acquisition and opening a new location in Canberra, is an excellent achievement,” Richmond says.

“The delivery of continued revenue growth, improving underlying financial performance and operating cash while investing for future growth highlights the quality of our people and service offering in this competitive market.

“Through process, systems and people the business continues to build a foundation to deliver excellent results for shareholders.” 

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