TechTeam Global, Inc., whose corporate headquarters is located in Southfield, reported 13.8% growth over year’s first quarter to $46.2 million. Revenue increased 20.9%.
The IT company's net income rose to $904,000 for the three months ending March 31; up from $337,000 (or 3 cents a share) in the same quarter in 2006.
During the last quarter, the company also completed acquisition of SQM Sverige AB, an IT outsourcing company located in Stockholm, Sweden.
With approximately 2,500 employees worldwide (including 1,500 in the United States), TechTeam is continuing to grow.
- In January, they added Kevin P. Burke as Senior Vice President, and in February, they announced the appointment of Jeff Flading as Vice President of its Department of Defense Division.
- Last month TRW Automotive, an automotive safety systems leader based in Livonia, selected TechTeam to provide managed infrastructure support services. The three-year contract calls for TechTeam to provide applications support and infrastructure support for all of TRW’s North American locations.
- Last week, TechTeam’s wholly owned subsidiary TechTeam Government Solutions, Inc. was chosen by a non-profit educational institution to provide an integrated IT service management solution. TechTeam partnered with Computer Associates (CA) and Oak Tree Enterprise Solutions, Inc. to land the contract, estimated in value at $4.2 million in revenue over three years. Two one-year option years could potentially bring the contract up to $7 million.
Laura C. Szczybor, director of corporate communications, said that the company would see periodic openings throughout their operations as they continue to grow.
For more information on TechTeam, visit techteam.com.
Source: Laura C. Szczybor, TechTeam
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.