BillSoft® Restates Financial Growth

OVERLAND PARK, Kan.--(BUSINESS WIRE)-- BillSoft, Inc., the national leader in the indirect tax technology industry, announced today a restatement of previously released financial numbers.

The previously reported gross revenue increase of 18% has been restated to 14% for the fiscal year that ended March 31, 2011. The net income figure for the fiscal year is 7.5%. BillSoft CEO Tim Lopatofsky said, “Our recently hired CFO, at my request, conducted an internal audit and made some year-end adjustments to our annualized growth numbers. While that number turned out to be a bit lower, our profit and growth projections are still on a positive track for the remainder of our fiscal year.”

Founded in 1997, BillSoft provides value to clients through innovation, best of class solutions to challenging tax issues and by providing support to clients in communication and retail sales and use industries. For more information about BillSoft, please visit www.billsoft.com.

BillSoft and EZTax are registered trademarks of BillSoft, Incorporated.

CONTACT:

BillSoft
Phil Hermanson, 1-800-525-8175, ext. 159

KEYWORDS:   United States  North America  Kansas

INDUSTRY KEYWORDS:   Technology  Software  Telecommunications  Other Technology  Mobile/Wireless  VoIP  Professional Services  Accounting  Consulting

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