Jagged Peak, Inc.
3000 Bayport Dr, Suite 250
Tampa, FL 33607
FOR IMMEDIATE RELEASE
Jagged Peak Announces Financial Results for the Second Quarter of 2014
Net revenues increased 27% to $13.6 million.
TAMPA, FLORIDA – August 11, 2014 – Jagged Peak, Inc. (OTC BB: JGPK), a leading provider of enterprise-class e-commerce solutions and supply chain services, today announced financial results for the quarter ended June 27, 2014.
Revenues increased $2,908,200, or 27%, to $13,624,800 for the 13-week period ended June 27, 2014, as compared to $10,716,600 for the 13-week period ended June 28, 2013. Greater e-commerce order processing resulted in increases in both technology and fulfillment service revenues. Revenues from implementation of new client sites and on-going development for existing clients were consistent across these periods.
"I'm very pleased to say that we added key retail clients onto our EDGE platform in 2014," said Jagged Peak Chief Executive Officer, Paul Demirdjian. "To address this accelerated market demand for our eCommerce and omnichannel order management solutions, we've increased our research and development funding, expanded our distribution capacity and enhanced our customer support teams. We also added a second, full-service data center where we have begun deploying new client environments. We believe investing in these strategic areas will enable us to continue to build our new client roster without compromising the support we extend to our existing clients." "We are making significant investments in our new 175,000 square feet warehouse and expect to be at full capacity by the end of 2014," said Jagged Peak Chief Financial Officer, Albert Narvades. "We will continue to make additional investments in infrastructure and software to serve our growing clients."
This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties. Factors that could cause actual results to differ materially from those predicted in any such forward-looking statement include our ability to continue to lower our costs, our timely development and customers' acceptance of our products, including acceptance by key customers, pricing pressures, rapid technological changes in the industry, growth of the market, increased competition, our ability to attract and retain qualified personnel, adverse changes in general economic conditions in the U.S. and internationally, risks associated with foreign operations and political and economic uncertainties associated with current world events. These and other risks are detailed from time to time in the Jagged Peak, Inc. periodic reports filed with the Securities and Exchange Commission, including, but not limited to, its report on Form 10-K for its fiscal year ended December 27, 2013.
About Jagged Peak
Jagged Peak is a leading e-commerce solutions provider with software and services that enhance the scalability, flexibility and profitability of multi-channel online businesses. Its cornerstone technology is EDGE---an enterprise-class e-commerce platform that includes a full-featured e-commerce Platform (ECP) and robust Order Management System (OMS) as well as a Warehouse Management System (WMS) and Transportation Management System (TMS). These platform elements can be deployed alone or together through a license or SaaS delivery model to form an end-to-end, Cloud-based software suite that integrates the entire order life cycle with visibility across business units, distribution channels and trading partners---all while enabling the client to have complete control of its online brand. Combining its technology with a comprehensive array of eMarketing, customer support and IT professional services along with "anytime, anywhere" order fulfillment through its FlexNet multi-location warehouse network, Jagged Peak offers a rare and uniquely holistic approach to e-commerce. For more information, please visit www.jaggedpeak.com.
Jagged Peak, Inc.
Albert Narvades CFO
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