Meridian Group Archived News Content
Meridian Group Reports Increased Earnings
on Revenue Growth and Acquisitions
Release Date: August 15, 2006
DEERFIELD, IL – Meridian Group, the international IT solutions provider, reported net earnings of $7.5 million on revenues of $240 million for the year ended March 31, 2006. Net earnings were up 14% and revenues up 21% on the prior year.
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Meridian Group Acquires Galaxy Data, Inc.
Release Date: June 1, 2006
DEERFIELD, IL - Meridian Group, the international IT solutions provider today completed the acquisition of Galaxy Data, Inc.Galaxy Data, Inc. is based in Milwaukee, Wisconsin and since its inception in 1990 has developed into a leading regional network integrator serving major Midwest accounts. Galaxy’s core competence is in the area of network design and implementation, specializing in local and wide area network (LAN/WAN) installations and complex integration projects. Lisa Pettay, Galaxy’s former owner continues as Galaxy’s President. Galaxy will operate as a stand-alone business unit and all Galaxy’s personnel stay with the company.
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Meridian Group Reports Solid Annual Results
07/15/2005
DEERFIELD, IL- Meridian Group, the international IT solutions provider, reported net earnings of $6.5 million on revenues of $197.6 million for the fiscal year ended March 31, 2005. Pre-tax earnings were $10 million. Ian Pye, Chairman and CEO commented, "The financial performance was very solid in view of our significant recent expenditure in branding, business software and the relocation to a new corporate headquarters which all took place during the year. These expenses are really an investment for the future and Meridian is positioned for a sustained period of expansion."
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Meridian Group Acquires Eakins Systems, Inc.
06/15/2005
DEERFIELD, IL- Meridian Group, the international IT solutions provider, completed the acquisition of Eakins Systems, Inc. (Eakins) in an asset purchase transaction. Eakins, a Mountain View, California systems integrator has been in business over 30 years and prides itself on being a leading edge supplier of cost-effective server and storage solutions to well known Bay Area companies. The acquisition is part of Meridian’s strategy to increase its West Coast coverage and the Mountain View office becomes Meridian’s Bay Area regional office for its existing and newly-hired sales and technical resources. Gil Eakins, the founder, continues as an advisor to Meridian. Meridian has recently completed 26 years of continuous profitability and employs 267 in 25 offices throughout the U.S. and U.K.
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Meridian Group Reports Solid Annual Results
07/15/2005
DEERFIELD, IL- Meridian Group, the international IT solutions provider, reported net earnings of $6.5 million on revenues of $197.6 million for the fiscal year ended March 31, 2005. Pre-tax earnings were $10 million. Ian Pye, Chairman and CEO commented, "The financial performance was very solid in view of our significant recent expenditure in branding, business software and the relocation to a new corporate headquarters which all took place during the year. These expenses are really an investment for the future and Meridian is positioned for a sustained period of expansion."
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Meridian Group Acquires Eakins Systems, Inc.
06/15/2005
DEERFIELD, IL- Meridian Group, the international IT solutions provider, completed the acquisition of Eakins Systems, Inc. (Eakins) in an asset purchase transaction. Eakins, a Mountain View, California systems integrator has been in business over 30 years and prides itself on being a leading edge supplier of cost-effective server and storage solutions to well known Bay Area companies. The acquisition is part of Meridian’s strategy to increase its West Coast coverage and the Mountain View office becomes Meridian’s Bay Area regional office for its existing and newly-hired sales and technical resources. Gil Eakins, the founder, continues as an advisor to Meridian. Meridian has recently completed 26 years of continuous profitability and employs 267 in 25 offices throughout the U.S. and U.K.
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Meridian Reports Annual Results, New Headquarters
08/30/2004
DEERFIELD, IL - Meridian Group, the international IT solutions provider, reported net earnings of $9.3 million on revenues of $193 million for its fiscal year ended March 31, 2004. Pre-tax earnings for the year were $13.8 million. Compared to last year, revenues and net earnings increased 25.5% and 20.4% respectively.
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Meridian Reports Robust 3rd Quarter Earnings
03/03/2004
DEERFIELD, IL - The Meridian Group, a leading privately held national IT solutions provider, reported net earnings of $7.6 million on revenues of $151 million for the nine-month period ended December 31, 2003. Pre-tax earnings of $10.9 million were 27% higher than for the comparable prior period on revenues, which increased by 29%.
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Meridian Interim Report
11/20/2003
DEERFIELD, IL - The Meridian Group, a leading privately-held national IT solutions provider, reported net earnings of $4.5 million on revenues of $100 million for the six-month period ended September 30, 2003. Pre-tax earnings of $7.6 million were 44% higher than for the comparable prior period on revenues which increased by 29%.
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Meridian's 24th Consecutive Year Of Profitability
DEERFIELD, IL - The Meridian Group, a leading privately-held IT solutions provider, announced its financial results for the year ended March 31, 2003. Meridian reported its 24th consecutive year of profitability. Net earnings were $7.7 million on revenues of $154 million. Pre-tax earnings were $12.8 million, an 18% increase on the previous year.
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Meridian Acquires Comtech
04/21/2003
DEERFIELD, IL - The Meridian Group, a leading privately-held national IT solutions provider, announced today the completion of the acquisition of Comtech Group USA, Inc. Headquartered in Lincolnshire, IL, Comtech is a long-standing IBM Premier Business Partner focused on midrange solutions. Comtech employs 62 people and recently reported net earnings of $2.9 million on revenues of $57 million for the year ended December 31, 2002. Pre-tax earnings were $4.6 million, a record for Comtech which was formed in 1992. Tim Patronik has been appointed President of Comtech which will operate as a stand-alone business unit of the Meridian Group.
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Marketing Expansion and Solid Third Quarter Results
02/15/2003
DEERFIELD, IL - The Meridian Group, a leading privately-held IT solutions provider, reported net earnings of $5.1 million on revenues of $117.2 million for the nine-month period ended December 31, 2002. Pretax earnings were $8.6 million. Ian Pye, Chief Executive Officer, commented that "although net earnings were flat compared to the comparable prior period, the performance was very satisfactory in an uncertain economic environment." Meridian is in its 24th year of consecutive profitability.
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Meridian Reports Increased Earnings, Announces Personnel Changes
11/15/2002
DEERFIELD, IL - The Meridian Group, a leading privately-held IT national solutions provider, reported net earnings of $3.0 million on revenues of $77.6 million for the six-month period ended September 30, 2002. Pretax earnings of $5.3 million were 10% higher than for the comparable prior period. Meridian is in its 24th year of consecutive profitability.
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Meridian Increases Net Earnings, Opens New Sales Offices
02/25/2002
DEERFIELD, IL - The Meridian Group, a leading independent IT leasing, reseller and services company, reported net earnings of $5.3 million for the nine months ended December 31, 2001, an increase of 68% over the comparable prior year period. Total revenue for the period was $150 million. The company opened three new sales offices recently in Indianapolis, Raleigh and Atlanta and is in the process of merging all of its information technology reseller programs and companies into a single solutions provider "Meridian IT Solutions" based in Schaumburg, IL.
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