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Dallas, TX., June 03, 2021 (GLOBE NEWSWIRE) -- GEX Management Inc (OTC PINK: GXXM), a Dallas based management consulting company, announced the close of a strong fiscal quarter ended March 31, 2021 following solid fiscal year 2020 results. The company’s multi-pronged growth initiatives and expansive business development programs have resulted in a solid 200%+ increase in revenue for the quarter ending March 2021 compared to the similar period last year. This follows an almost doubling of year-over-year sales for fiscal year 2020 compared to the prior fiscal year, despite a challenging pandemic-fueled business environment. Besides strong revenue numbers, the company also recorded a solid 13% expansion in gross margins for the fiscal year ended 2020 compared to the prior fiscal year period and continues to maintain strong gross margin levels headed into 2021.
Sri Vanamali, the CEO of GEX stated, “ At a time when many of our peers in the global consulting and professional services business have been adversely impacted by the coronavirus pandemic, GEX has managed to not only thrive but also ramp-up business operations despite facing numerous challenges with regard to the global supply chain. This success has been attributable to our singular focus on developing high quality products and services for our enterprise clients, enhancing end-to-end process and operational efficiencies via targeted cost rationalization initiatives and adapting rapidly to a virtual business environment without comprising the quality of service to our customers and business partners.”
Additionally, GEX has invested considerable resources in restructuring and reorganizing its operational and staffing infrastructure over the past two years – an initiative that has started to show exceptional results, as demonstrated by the consistently strong sales numbers over the last several quarters. In terms of expanding its business lines, GEX has built a solid strategic path that includes delivering cutting edge enterprise technology solutions to Fortune 50 clients across the globe, developing strategic road maps to VC backed high growth tech startups and advising C-Suite executives on corporate strategies to achieve organic & inorganic growth via long term corporate consulting executive level engagements.
“These corporate growth and cost rationalization initiatives have exceeded our initial target to achieve over 50% improvement in YoY sales by almost doubling those figures within the same timeframe, while consistently maintaining an average of over 80% gross margin in each of the previous three quarters”, said Sri Vanamali. “In addition to our solid revenue and margin expansion efforts, we have continued to significantly reduce the outstanding debt on our balance sheet, remove much of the toxic debt and debt-like instruments carried over from the previous years, and have started to build a strong balance sheet in preparation for the exciting organic and inorganic strategies lined up, as we look forward to the next phase of our growth journey”.
About GEX Management
GEX Management, Inc. is a Management Consulting company providing high end Strategy and Enterprise Technology Consulting solutions to public and private companies across a variety of industry sectors. http://www.gexmanagement.com
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