Ramquest’s Profitability Trend Continues - Company Announces 32nd Consecutive Profitable Quarter
RamQuest, Inc., a recognized leader for providing solutions to the land title industry, announced today that the second quarter of 2009 marked the Company’s 32nd consecutive quarter of profitability. Despite recent economic conditions, RamQuest, a privately held company, continues to operate with positive operating cash flow and no debt.
The Company’s success is contributed to, in part, a company-wide commitment to understanding current industry issues and trends and complimenting that understanding with development of industry-leading business solutions and technology offerings. First to market with a number of innovative tools for the settlement services industry, such as enabling business to business communication with its Closing Market digital network, RamQuest further solidified its position as an industry leader and innovator with its announcement late last year that it would be investing more in Research and Development in 2009 than any other time in Company history.
“We’ve all been witness to the impact that this volatile market has had on companies in our industry including large-scale down sizing and bankruptcies,” said Mark McElroy, RamQuest president and chief executive officer. “It is a privilege for RamQuest to serve as a cornerstone in our industry – providing a solid business partner for our customers to count on day in and day out, relying on us in good times and bad.”
McElroy goes on to say that key players in the industry also affirm RamQuest’s position of strength as demonstrated by a statement made by minority investor, Old Republic National Title Insurance Company, in its 2008 Annual Report, “Another technology company that we have an ownership interest in, RamQuest Software, Inc., continued its success as a leading provider of title and escrow production software.”
“RamQuest will continue to enhance our position as a leader in our industry,” commented Steven Terry, chief operating officer at RamQuest. “RamQuest’s initiative to give back to the industry in the form of the development and launch of the RESPAready.com Community Forum is just one example.”
CCE is the foundation for RamQuest’s production solution and provides title companies with a comprehensive set of tools for managing the title insurance process including order processing, commitment policy, escrow accounting and HUD generation. RamQuest’s Closing Market network enables title companies to electronically connect to brokers, lenders, service providers, underwriters and other title companies making it easier to do business and eliminate costs by containing the process to a single electronic system and significantly reducing cycle time from order receipt to completion. Rounding out RamQuest's solution for the title industry are PaperlessCloser, the company's transaction management software and FileScan Plus, RamQuest's document imaging and management solution.
About RamQuest, Inc.
RamQuest, a Texas-based corporation founded in 1991, is the premier provider of solutions for the Land Title Industry. The Company’s products are currently in use for title closings in all 50 states with more than 40,000 active licenses nationwide. RamQuest’s state-of-the-art software suite provides a complete set of tools to facilitate and automate much of the work performed by title companies. For more information about RamQuest, visit www.ramquest.com.