News of impressive results continued for Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, whose 1st quarter fiscal results for the 2015 fiscal year were released to owners of the twelve-year-old business earlier today.
In his quarterly newsletter to stockholders, Xtend President Scott Collins wrote, “I couldn’t be happier with the way the team has come out of the gate in this first fiscal quarter. We are more than 10% ahead on our overall sales, we are under budget from an expense standpoint, and we are ahead of our revenue measurements in nearly every major brand. I am pleased that we carried the momentum of a strong 2014 into all of our business units this winter. And we have a strong opportunity pipeline teed up to execute upon for the next several business quarters.”
According to Collins, the CUSO experienced 1st quarter growth over the same period in 2014 numbers, led by its Member Reach e-Communication brand (+70%), its Compliance Monitoring practice (+46%), its Xtension Call Center (+27%) and its Loan Servicing unit (+5%). “We had a very strong first quarter last year and we were coming off a very solid finish to the year, so I was anxious to see how the team would respond,” said Collins. “As the numbers bear out, our team continues to execute effectively, and the demand for our products and services continues to resonate across the industry. And it’s a win-win that our services designed to drive income for our customer-owners are leading the way.”