Fontana, CA (November 14, 2023) – AGent Information Software (AIFS), the parent company of Auto-Graphics, Inc. (A-G), released 2023 third-quarter financials today.
In the third quarter of 2023, AIFS reported a net income YTD of $98,863. Recurring revenue remains solid at $3,893k at quarter-end, a slight increase from 2023. The company’s cash position remains solid at the end of the third quarter of 2023, with strong receipts expected in the beginning of the final quarter of 2023. Focus remains on product development/programming of our product lines as the company looks to add staffing to these areas.
In early Q3, Auto-Graphics was awarded the SHAREit contract to provide statewide resource-sharing in Texas by The Texas State Library and Archives Commission (TSLAC). The contract, which began on September 1, 2023, provides a framework to implement SHAREit as the new statewide interlibrary loan solution for Texas public libraries over the next fiscal year. Adding Texas to our already strong presence in this region will allow them along with A-G’s existing customers in Arkansas, Louisiana, and Kansas the opportunity to engage in resource sharing across state lines. A-G also implemented VERSO for The San Diego Zoo Wildlife Alliance in Q3.
As 2023 draws to a close, the A-G team is focused on opportunities for growing the VERSO and SHAREit customer base in 2024. The introduction of a new cataloging module and an enhanced report writer for SHAREit and VERSO were developed with the direct input of our user group and advisory board to address major workflow issues for staff called upon to perform numerous tasks within the library. The new modules – conceptualized and developed from the ground up – are designed to allow library staff to do more with fewer resources. The new modules will allow Auto-Graphics to participate in the bidding process for larger library systems, bringing in higher recurring revenue for the company. The sales team also anticipates new statewide resource-sharing RFP’s will be issued in 2024 where SHAREit will be a strong contender.
Product Manager, SHAREit
Product Manager – VERSO
Customer Service Manager
Chief Technology Officer
Dr. Murphy has been a director since December 2012. He has over 20 years experience as a successful software executive specializing in high-growth SaaS companies. He currently is CEO of GVNG Technology and Practitioner of Strategy at the Pepperdine Graziadio Business School. Dr. Murphy is an active member on the board of directors for several early-stage and private equity owned companies. He received his MBA from Pepperdine University and his Doctor of Business Administration (DBA) from the Alliance Manchester Business School at The University of Manchester.
Mr. Hicks, CPA, has been a director since February 2012. Mr. Hicks is Chairman of the Audit Committee. Mr. Hicks has been a practicing certified public accountant for over twenty-five years in addition to partnering and managing both an underground construction company and real estate development business. Currently, Mr. Hicks is a founder and senior partner of Hicks & Williams, LLP a certified public accounting firm providing tax, audit and management consulting services to small and medium size clients across the nation.
Mr. Heath has been a director since December 2012. Mr. Heath immigrated to California from Canada during the Internet commerce boom in 1999. Mr. Heath was formerly Vice President, Secondary Markets at Best Buy (2008-2010) and founded Dealtree.com in 1999, where he was CTO & COO from (2001-2010). Mr. Heath has developed expert system technologies for managing online sales channels and created several online marketplaces supporting secondary market sales. Mr. Heath is an Internet technology and business operations consultant and serves as President of Heath Investment Properties LLC. Mr. Heath is an active member of Rotary, and currently serves a Technology Director for District 5320 in Southern California.
Ken Kerr has been a director since April 2020. During his career, he served in a variety of leadership positions in sales, marketing, and operations with companies in startup, turnaround, and expansion. Most recently he was CEO/CFO of Advisys, Inc., a SaaS company providing financial planning solutions to Fortune 100 banks, brokerages and insurance companies, and thousands of independent financial advisers. He retired from Advisys in 2018 and now consults with businesses to improve profits and productivity through effective employee engagement strategies. Ken graduated Cum Laude from UCLA with a bachelor’s degree in English Literature and has an MBA with an emphasis in Technology Management from the University of Phoenix.
Product Manager, SHAREit – Customer Services
Product Manager, VERSO – Technical Services
Director of Information Technology
Controller
Director of Customer Service and Quality Assurance
Chief Operations Officer
Vice President of Sales
President